The Rent Roll with Jay Parsons EP#78 Richard Ross & Mike Kingsella | The Bizarre Push To Kill Build-To-Rent
Apr 2, 2026
Richard Ross, CEO of Quinn Residences, a major build-to-rent operator; Mike Kingsella, Head of Up For Growth, a pro-housing federal policy advocate. They discuss the sudden market freeze from new legislation, how vague drafting and a seven-year rule threaten BTR financing, why switching to for-sale is not simple, and strategies to convince lawmakers to protect rental production.
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BTR Fills The Gap For Families Not Ready To Buy
- BTR serves families who have outgrown apartments but can't buy due to down payments, credit, or affordability; treating BTR as collateral damage ignores renters' needs.
- Jay Parsons emphasizes many residents are real families seeking rental homes as a step toward ownership.
Senate Bill Imposes Seven Year Sell Requirement On BTR
- The 21st Century Road to Housing Act's Section 901 would force owners of 350+ single-family units to sell new units within seven years, effectively banning most BTR detached-home development.
- Jay Parsons and Richard Ross explain the rule applies to one- and two-unit structures, exempts 3+ attached units, and was written so poorly it creates huge market uncertainty.
Capital Markets Immediately Paused New BTR Projects
- Since the Senate passed the bill, lenders and equity providers have largely paused new BTR construction financing, freezing roughly a 50,000-unit-per-year pipeline.
- Jay Parsons cites FHA and other lenders halting underwriting and JV partners pausing deals out of regulatory risk fear.