AZ HB2705

Corporations and limited liability companies owning 10 or more single-family residences in Arizona must register with the Corporation Commission's securities division before purchasing additional properties, including disclosure of beneficial owners.

Corporate and LLC purchases of single-family homes are capped at 50 units per calendar year, with a maximum ownership limit of 2,000 single-family residences statewide.

Purchases by any single corporate entity cannot exceed 5% of total single-family residences in any census tract.

County recorders may not record deeds for corporate home purchases without a certificate of registration, and deeds must state the property is not the owner's primary residence.

Violations of registration requirements carry civil penalties up to $20,000 per violation, with penalties deposited into the state housing trust fund; exemptions apply to governmental entities, nonprofits, land trusts, group homes, and employers renting to employees.