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House passes bill requiring out-of-state owners of large single-family portfolios to maintain in-state contacts
Summary
The House passed House Bill 399, which requires nonresident owners of 25 or more single-family rental homes in Georgia to employ a local broker or agent and maintain an identified in-state point of contact for tenant complaints; the bill passed 163–4.
The House passed House Bill 399, a bill that requires nonresident owners of 25 or more single-family rental homes in Georgia to employ a local broker or real-estate agent and to designate at least one person in-state to receive tenant complaints. The bill passed following floor debate by a vote of 163 yeas and 4 nays.
Representative Oliver, sponsor of HB 399, told members the bill targets large out-of-state investors and hedge funds that have acquired significant shares of single-family housing stock, particularly in the Atlanta region. She said that two companies — Invitation Homes and Progress Residential — each…
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