A new House bill introduced Wednesday seeks to curb corporate and investment firm purchases of single-family homes, aiming to preserve homeownership opportunities for individual buyers.

The Strengthening Home Ownership in Florida Act (HB 401), sponsored by Rep. Berny Jacques, would empower local governments to restrict investor-owned housing, allowing counties and cities to designate areas exclusively for owner-occupied homes.

The real estate bill introduces a new category, “single-family hybrid housing,” covering rental homes owned by corporations, investment groups, or related entities. Under the proposal, an individual or affiliated entity owning more than three single-family properties in a county would no longer qualify for residential zoning.

“Evolving housing needs require adaptable policy frameworks that promote inclusivity and economic diversity within communities,” the bill states. It argues that distinguishing between owner-occupied housing and hybrid housing will help protect homeownership opportunities.

Local governments would have the authority to enforce these rules through zoning regulations, limiting hybrid housing in certain areas while allowing it elsewhere. However, the bill exempts government-owned properties, ensuring affordable housing projects remain unaffected.

As of 2023, Florida’s homeownership rate is 67.3%, according to the Federal Reserve Bank of St. Louis. Meanwhile, corporate investors continue expanding their footprint, now owning over 117,000 single-family homes, according to a 2024 report from Florida Trend.

The bill also includes exemptions for builders and developers, permitting them to construct and sell new homes without restrictions, provided the properties remain unoccupied until sold.

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