Bill > H1010

This bill aims to curb housing market manipulation by limiting the number of single-family homes that business entities can purchase for rental purposes in North Carolina counties with populations over 150,000. Specifically, the bill prohibits a person or their affiliates from acquiring more than 100 single-family homes in these "qualifying counties" for rental use. The legislation recognizes the importance of individual home ownership as a means of building personal wealth and seeks to prevent large-scale corporate purchasing that could artificially inflate housing prices and reduce home ownership opportunities. The bill provides enforcement mechanisms through the Attorney General's office and allows aggrieved individuals or county commissioners to bring civil actions against violators. Potential penalties include civil fines of $100 per day per improperly acquired home, damages up to $50,000 or three times the total damages, and possible equitable relief. The law defines key terms such as "person" (which includes business entities but not governmental organizations), "single-family home" (detached or semi-detached residential structures), and "affiliate" (related business entities). The bill becomes effective immediately upon becoming law and applies to real estate purchases from that point forward.

Government Affairs

https://www.ncleg.gov/BillLookUp/2025/H1010