The House of Representatives has tweaked the Senate-approved 21st Century ROAD to Housing Act by removing a provision requiring institutional investors who own build-to-rent (BTR) single-family housing to sell their properties within seven years of construction.
The Hill reports the provision was opposed by conservative representatives who insisted the provision created a government intrusion into the housing market. The revised bill now states that institutional investors do not need to sell or divest “any covered single-family home purchased before or after the date of enactment of this Act.”
The House version keeps the Senate’s larger ban on institutional investors from owning more than 350 single-family homes. The bill will now require passage by the House before returning to the Senate for its approval of the revision. It is not clear whether the Senate will accept the deletion of its BTR provision.
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