Article published on League of Minnesota Cities on Feb 6, 2023
The bill would prohibit certain corporations, real estate developers, and residential building contractors from purchasing single-family homes to flip to rental properties.
The House Housing Finance and Policy Committee on Jan. 31 discussed HF 685 (Rep. Esther Agbaje, DFL-Minneapolis), a bill that would prohibit real estate developers and residential building contractors from purchasing single-family homes for the purpose of converting them to rental housing.
The bill was passed on an 8-5 party-line vote and referred to the House Judiciary Finance and Civil Law Committee.
The Senate companion, SF 365 (Sen. Liz Boldon, DFL-Rochester), awaits a hearing in the Senate Housing and Homelessness Prevention Committee.