Senate Democrats Make Antitrust Case Against Corporate Landlords
Senator Amy Klobuchar and others introduced a bill that would require private equity firms and other corporations that buy homes to report large transactions to regulators.
A subdivision of Atlanta, where large investors have become a powerful force in the local housing market.
Photographer: Elijah Nouvelage/BloombergA new Senate bill would require institutional investors that buy homes in bulk to report large purchases to federal regulators, putting corporate landlords within the reach of antitrust enforcers at the Federal Trade Commission and Justice Department.
Legislation introduced by Minnesota Senator Amy Klobuchar and eight other Senate Democrats would create new reporting and transparency requirements for corporate investors, including private equity firms and real estate investment trusts, that make sizable investments in America’s rental housing stock. So far the bill hasn't garnered any Republican cosponsors, meaning its prospects for passage are limited in both the Senate and the GOP-controlled House.