Tennessee HB1501 amends residential landlord registries to require REITs to register with local government and notify of changes.
Tennessee HB1501 amends the state code to mandate that real estate investment trusts (REITs) owning, operating, or financing ten or more dwelling units within a municipality must register with the local government. The REIT must provide specific information, including the entity's name, contact details, and the addresses of each dwelling unit. If any information or ownership changes, the REIT must notify the local government within thirty days. Failure to register or notify of changes can result in a fine of fifty dollars per week. The act takes effect July 1, 2026.
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