A newly filed House Bill 401 in the Florida State Legislature is taking aim to protect Florida’s housing market from multi-national investment companies buying up entire neighborhoods or huge swaths of homes to convert them in to permanent rental properties.
Florida has see at least two major single-family home price spikes in the past two-decades, in some cases double and even tripling the cost to buy a new home.
The National Rental Home Council is firing back against the new House Bill, saying it restricts who can rent homes in certain communities, and would take away hosing choices for Floridians. Primarily, though, the National Rental Home Council opposes the proposed bill because it would limit the huge profits made by owners, builders, operators, capital providers, vendors, manufacturers, professional service firms and business partners who are the members of the NRHC.
