We can rein in corporate landlords by limiting the size and concentration of holdings of investment vehicle landlords and levying financial penalties on institutional purchases.
Restrict corporate and private equity landlords by limiting the size and concentration of investment-vehicle home holdings and penalizing institutional purchases.
Occurrences
Evidence
legacy_unverified · Source version not recorded · locator unknown
The codified law defines a large institutional investor as a for-profit investment entity with control of at least 350 single-family homes; it provides that no such investor may purchase or contract to purchase a single-family home, subject to exceptions, and authorizes civil penalties up to $1,000,000 per violation or three times the purchase price.
unverified · Source version 61741 · locator unknown
The Senate recorded Vote 182 on H.R. 6644 on June 22, 2026; the motion was agreed to 85-5, and Schiff (D-CA) voted Yea.
Assessments
Public Law 119-101 created a federal restriction on large institutional investors controlling at least 350 single-family homes from purchasing additional single-family homes, with civil penalties up to $1,000,000 per violation or three times the purchase price. That substantially matches the promise to limit concentrated institutional home holdings and penalize institutional purchases. Schiff was serving as U.S. Senator for California and voted Yea on the final Senate motion for H.R. 6644 on June 22, 2026, so the outcome was delivered during the same federal term with direct legislative support from him, even though the law includes exceptions and does not require broad divestiture of prior holdings.