The Housing Acquisitions Review and Transparency Act (HART Act) requires large investors and companies to notify federal regulators when they buy residential properties, treating multiple purchases within a single year as one combined acquisition for reporting purposes. The bill modifies federal antitrust law to ensure that institutional buyers of homes, rental properties, and real estate investment trusts must file premerger notification with the Federal Trade Commission and Department of Justice when their annual residential property purchases meet certain thresholds. This applies to single-family homes, multifamily buildings, condominiums, and manufactured homes, but excludes short-term lodging like hotels and Airbnb-style rentals. The Federal Trade Commission and Department of Justice must create new rules within a specified timeframe to establish what information these buyers must disclose and set the specific dollar or property thresholds that trigger reporting requirements. The bill aims to increase transparency around corporate and institutional residential property acquisitions to help regulators monitor whether such purchases may harm housing market competition.
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