EP#93 ACCIDENTALLY INSTITUTIONAL: The ROAD Act's Impact on Mid-Sized SFR Investors

When the ROAD to Housing Act became law, hundreds of single-family rental operators were instantly branded for the first time as "institutional" — despite many of them having no ties to Wall Street or any institutional capital. And while all the attention has gone toward big-name private equity groups and REITs, much less attention has gone toward the far greater number of local and regional SFR investors suddenly swept up in the legislation. What do they think of ROAD's new regulatory red tape on SFR, and how have their businesses been impacted by it. In this special episode, rental housing economist Jay Parsons speaks with seven different SFR operators who represent the bulk of the firms impacted by ROAD, but all with unique strategies, geographic footprints and perspectives. For them, the irony of ironies is that they're too small to have much voice on regulatory topics but big enough to be swept up into the legislation. In this episode, you'll hear parts of their stories — and much of their frustration around being branded as "institutional" due to the law lumping all firms with 350+ single-family houses into that desgination. Additionally in this episode, Jay shares his take on ROAD now that it's become law ... not due to the President signing the bill, but because he didn't veto it either ... allowing it to become law after a 10-day holding period. Jay also brings back recurring segments like "Good Question," "In the News" and "Rental Housing Trivia."