H.R. 8903: Renter Resource Center Act

The Renter Resource Center Act aims to create a system for renters to receive assistance regarding disputes related to their rental properties, particularly those owned by large institutional investors. The bill mandates the following key actions:

Establishment of a Renter Outreach Resource

The Secretary of Housing and Urban Development (HUD) will set up a renter outreach resource within 180 days of the bill's enactment. This resource will consist of:

• A toll-free telephone number
• A public website

These tools are designed to help renters notify federal agencies about issues such as:

• Potential violations of federal law
• Potential violations of state law
• Other rental disputes

Response and Documentation

The Secretary will implement procedures to:

• Promptly respond to renters about their disputes
• Document all responses

Responses will include information about actions taken by federal agencies and outcomes of the disputes where possible.

Investigation of Violations

The Secretary is required to investigate any dispute that suggests a violation of federal law. This may involve:

• Sharing information with relevant federal agencies
• Identifying the large institutional investor involved

Referral to State Authorities

When disputes involve potential violations of state law, HUD will provide renters with contact information for the appropriate state authorities.

Notification Requirements for Large Investors

Covered large institutional investors must:

• Provide written notice about the renter outreach resource to each tenant at the start of the lease and annually thereafter
• Feature information about the resource on their public websites

Annual Reporting to Congress

The Secretary must submit a public report to Congress by March 31 each year, detailing:

• The types and numbers of disputes reported
• Actions taken in response to these disputes
• The resolution outcomes, when practicable

The data shared will be anonymized to protect personal information.

Protection of Personal Information

Several measures will be established to ensure the confidentiality of sensitive personal information gathered through the outreach resource.

Annual Notification by Property Owners

Owners of properties managed by covered large institutional investors must annually confirm their status as such investors and report on the number of residential homes they control.

Definitions of Key Terms

Detailed definitions are provided within the bill, particularly regarding:

• What constitutes a "covered large institutional investor" and their investment control over properties
• What is defined as a "covered single-family home"

Exemptions and Purchase Definitions

The bill outlines specific exemptions for certain purchases and defines the "first-look period," which grants specific buyers the initial opportunity to purchase properties before they are widely listed.

Relevant Companies

• AMH - American Homes 4 Rent: As a large institutional owner of single-family homes, this company could be directly affected by the outreach requirements and dispute resolution processes outlined in the bill.
• INVH - Invitation Homes: Similarly, this company, which owns and rents single-family homes, may see impacts related to dispute management and investor responsibilities under the bill.
• REZI - Resideo Technologies: As a company engaged in the rental or leasing of homes, it could be subject to the requirements for notification and dispute reporting.