SB1693 requires business entities to register residential rental properties with the Tennessee Secretary of State.
SB1693 amends Tennessee Code to mandate that business entities, including corporations, limited liability companies, limited liability partnerships, and limited partnerships, register their residential rental properties with the Secretary of State. This registration must occur within 60 days of January 1, 2027, or the date of property acquisition, whichever is later. The registration must include details such as the entity's name, property addresses, contact information, and the number of rental units. Failure to register on time results in a civil penalty of up to $2,000.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.