State Senate Takes Aim at ‘Institutional’ Landlords

COLUMBUS, Ohio (News Talk 1480 WHBC) – They are being called “institutional” landlords.

Out-of-state corporate entities that buy a large number of homes in one fell swoop, many times not living up to their landlord-tenant agreements or even providing basic services.

It has inspired bipartisan Senate Bill 76 in Columbus.

The bill takes corporations owning 50 or more homes in a county, charging them $1500 per month for each one- to three-unit dwelling they own.

State Senator Kirk Schuring says it’ll only apply to new sales.

He says the bill is meant more as a deterrent to such large-scale purchases.