U.S. Single Family Rental REITs "Get The Show On the ROAD" Goldsmith

Research evidence excerpt

U.S. Single Family Rental REITs "Get The Show On the ROAD" Goldsmith

Global Research

17 June 2026ab

U.S. Single Family Rental REITs Equities

AmericasGet The Show On the ROAD

Real Estate

Michael Goldsmith

Compromise version of the bill allows for BTR with no max holding period Analyst

Overall, the agreed upon revised version of the 21st Century ROAD to Housing Act by michael.goldsmith@ubs.com

The Senate Banking & House Financial Services Committees provides a clarified path +1-212-713 2951

forward for institutional landlords. For the SFR REITs, key provisions in this version are Ami Probandt

grandfathered institutional portfolios with institutional buyers permitted to buy from Analyst

other institutions and a carve out to allow for institutional buyers to purchase homes ami.probandt@ubs.com

from homebuilders (incl. BTR and scatter site) with no maximum holding period. While +1-212-713 2078

the bill still needs to pass the Senate, likely by the end of July, the act has bipartisan Mary Mahrer

support, and the Trump administration has also indicated support. Assuming the bill is Analyst

passed, AMH indicated it believes it's unlikely that a new housing bill will be brought up mary.mahrer@ubs.com

at the national level near-term. However, we think that there could still be changes in +1-212-713 9014

regulations for institutional owners that emerge at the state or local level. Kathryn Graves, PhD

Associate Analyst

How does this impact the SFR REITs? kathryn.graves@ubs.com

+1-212-713 4871

In our view, there are puts and takes from the ROAD to Housing. As a positive,

institutional owners would continue to be able to grow externally through both

acquisitions from homebuilders and dedicated BTR developments. There is no change to

the in-place portfolios of scatter site homes.