Blueprint for a Renters Bill of Rights impact?

Question

I am not trying to incite any political debate. I genuinely would like to understand the risks to Mom and Pop landlords like myself. We currently own SFR portfolio in Memphis and Little Rock. Do you think there will be enough checks and balances? Does it change your long term strategy?

I don't want to overreact but at the same time, I am genuinely afraid of another federal level mandates like the COVID eviction moratorium (which I am still shocked could even be enforced as long as it was).

Nathan Gesner · Answer

That plan is not going anywhere. I wouldn't waste any time worrying about it.

Joel Broyles · Answer

I'm also not trying to provoke politics here. I think it's just too soon to know how to view this accurately. On its face, looks concerning. The way I'm viewing this at this point: most asset classes have a maturation process which involves increased regulatory framework and oversight. SFR investing was a highly fragmented mom/pop "industry" until 10 years ago and really the last 5 as the REITS achieved some scale. 2020-2022 added fuel to the narrative: large institutional landlords buying up property, average person/family chasing rising prices and now rates kick in to really drive (un)affordability issues. It's to be expected that headlines will drive policy changes - especially when both sides of the aisle benefit from the narrative. And, to be fair, some of the big REITs have had bad press and operational challenges which doesn't help their case. Overall: too soon to tell, but keeping an eye on it. I think the bigger risk short-term is Fed policy mistakes causing unintended negative consequences to a housing market that's already challenged by structural inflation, higher rates and insufficient inventory.

Warren A. · Answer

The states our rentals are in are red and landlord friendly. I am trying to gauge if Blueprint for a Renters Bill of Rights will eventually make landlord friendly states too tenant friendly to the point that will drive out investors.

John Underwood · Answer

Red states seems to be more landlord friendly, not sure what your 2 states are.

I can evict a non paying tenant in 4 weeks or less.

Blueprint for a Renters Bill of Rights impact?

Blueprint for a Renters Bill of Rights impact?

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