The bill, H.B. No. 2968, introduces new regulations for corporate owners of single-family homes used for rental purposes in Texas. It establishes a registration requirement for these corporate owners, mandating them to file a registration statement with the Secretary of State that includes details such as the corporate name, address, type of business entity, and the number of single-family homes owned. The Secretary of State is authorized to charge a reasonable fee for the registration and renewal of certificates, which will expire annually. Additionally, the bill imposes a civil penalty of $500 per day for non-compliance with the registration requirements.

Furthermore, the bill mandates the Texas Real Estate Research Center to conduct an annual study and report on the activities of corporate owners regarding the purchase, rental, and sale of single-family homes. This report will analyze trends, assess the impact of corporate ownership on housing costs, and provide insights into the real estate market dynamics. The bill also includes provisions that prevent county clerks from recording title transfers for single-family homes purchased by corporate owners unless specific registration documentation is provided. The implementation of these regulations is set to begin on January 1, 2026, with the initial report due by June 1, 2026.

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