Housing Industry Coalition Sounds Alarm on “Chilling Effect” of New BTR Language
The National Multifamily Housing Council (NMHC), National Housing Conference, the Mortgage Bankers Association, the Real Estate Roundtable and dozens of housing groups have sent a letter to Congressional leaders. The groups expressed deep concern about language in the 21st Century ROAD to Housing Act, now pending before the Senate, that would effectively eliminate the production of Build-to-Rent (BTR) housing.
“The bill includes new language addressing concerns expressed by President Trump and others about
institutional investors in single-family rentals,” according to the letter. “The Administration committed to exempt the important subset of BTR housing. Yet, as written, the language would have a chilling effect on the entire BTR supply chain by requiring firms owning more than 350 units to dispose of them after seven years.
“Because BTR developments require large-scale investment and benefit from economies of scale, most firms operate beyond that threshold,” the letter states. “They cannot invest under the risk of forced sales and potential losses driven by arbitrary deadlines.”
In a statement, NMHC vowed to “continue to engage with lawmakers to remove the BTR language from the bill and return the legislation to the original goals of the Members of Congress and Administration supporting it.”
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
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Essex Property Trust, Inc.
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Josh A
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Bob Tuteur
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