Senate Democrats File Antitrust Case Against Corporate Real Estate Owners

A new Senate bill would require institutional investors who buy homes in bulk to report their large purchases to federal regulators, putting corporate renters within the reach of antitrust enforcement agencies at the Federal Trade Commission and the Justice Department.

The bill, introduced by Minnesota Sen. Amy Klobuchar and eight other Senate Democrats, would impose new reporting and transparency requirements on corporate investors, including private equity firms and real estate investment trusts, that make significant investments in the U.S. rental housing stock. So far, the bill has not gained a single Republican co-sponsor, meaning its prospects for passage are limited in both the Senate and the GOP-controlled House of Representatives.