This bill requires the Secretary of Housing and Urban Development (HUD) to create a renter outreach resource within 180 days. The resource must include a toll-free telephone number and a public website. It is intended to help renters of residential properties owned by "covered large institutional investors" notify federal agencies about disputes, share information with other federal agencies, monitor disputes, and resolve disputes where practicable.
The bill directs HUD to set up procedures to promptly respond to renters who use the resource, provide written responses when appropriate, and document those responses. Responses should, where appropriate, say what steps HUD or other federal agencies have taken, any response from the investor, and any outcomes of the dispute.
HUD must process and investigate information about possible violations of federal law reported through the resource, share such information with relevant federal agencies as appropriate, and identify the appropriate covered large institutional investor. A covered large institutional investor may respond to HUD requests for information and may state whether it owns the property described.
When a renter reports a possible violation of state law or another state-level dispute, HUD must give the renter contact information for the appropriate state authority.
Covered large institutional investors must provide each renter at move-in and annually with written notice about the HUD renter outreach resource and the name, phone, and email of the person or entity the investor uses to receive and address renter disputes. Investors must update that contact information within 30 days if it changes. Investors must also prominently display information about the HUD outreach resource on their public websites.
HUD must send a public annual report to Congress by March 31 each year that analyzes and aggregates information received under the act. The report must include counts and types of disputes about potential federal law violations, state law violations, and other renter matters, and, where practicable, information about dispute resolutions. Any data in the report must be aggregated or anonymized to protect personally identifiable information. HUD must protect personally identifiable information in line with existing confidentiality standards.
Owners that meet the bill's definition of a covered large institutional investor must notify HUD each year by December 31 whether they remain a covered large institutional investor and must identify how many covered single-family homes they control and the city and State for each home, unless they own 10 or fewer covered homes in a city.
The bill defines a "covered large institutional investor" broadly as a for-profit entity that invests in, owns, rents, or holds covered single-family homes and that has direct or indirect investment control of at least 350 covered single-family homes (with several exclusions). A "covered single-family home" generally means a property with two or fewer dwelling units intended for one household, with several specific exclusions and exceptions described in the bill.
No publicly available information on funding or cost estimates is included in the bill text. The bill requires HUD to establish and operate the outreach resource and to produce annual reports, but it does not specify appropriations or cost figures.
No publicly available information about proponents' views is included in the bill text or metadata provided.
No publicly available information about opponents' views is included in the bill text or metadata provided.