Rental company buying up homes in area leaves some residents wary



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American Homes 4 Rent has purchased dozens of homes across Johnson County, including these in Grassy Creek Commons in Greenwood. Scott Roberson / Daily Journal


American Homes 4 Rent has purchased dozens of homes across Johnson County, including these in Heritage in Franklin. Scott Roberson / Daily Journal


In the span of just more than a year, a rental home company has bought hundreds of homes throughout Johnson County and is renting them for prices of about $1,000 or more per month.

Neighborhoods of homes once owned by families are turning into rental communities.

American Homes 4 Rent of Agoura Hills, Calif., now owns about 350 houses in Johnson County and approximately 1,800 in central Indiana — a buying blitz that started in June 2012. In some Franklin and Greenwood neighborhoods, the company has bought up to six houses on the same street, including Colonial Way and Bridlewood Drive in the Heritage subdivision in Franklin.

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