Housing (Renters)

HB 6243 amends Michigan law to prohibit large institutional investors from purchasing single-family homes, with the restriction applying to entities that control more than 100 such properties and manage at least $375 million in assets. The bill defines specific exceptions that allow these investors to continue buying homes through build-to-rent programs, renovate-to-rent initiatives that meet structural standards, and homeownership assistance schemes that offer financial support or credit reporting benefits to renters. Additionally, the legislation permits acquisitions resulting from foreclosure or loss mitigation efforts, provided the properties are sold within a commercially reasonable timeframe, and allows for the transfer of homes already owned by these investors prior to the law's effective date.

HB 4846 creates a new, faster process for property owners to remove squatters (unlawful occupants) from residential properties without a court hearing. Owners or their agents must submit a verified complaint to the sheriff detailing that the occupant is not a tenant, family member, or owner and has been asked to leave. The sheriff then serves an immediate notice to vacate, removes occupants (possibly arresting them for trespass), and allows owners to change locks with sheriff assistance (at owner cost). Wrongfully removed occupants can sue for triple the fair market rent of the dwelling, plus attorney fees, with courts prioritizing these cases. This procedure does not replace standard eviction processes for lease violations.