Definitions

In this Act: (1) Residential property The term residential property — (A) means property that is zoned or intended to be used as a dwelling for individuals or households, including multifamily housing, condominiums, manufactured homes, or single-family homes; and (B) does not include any place of short-term lodging. (2) Investment rental property The term investment rental property means real property that— (A) will not be rented to an entity, including any entity of the acquiring person, except for the sole purpose of maintaining, managing, or supervising the operation of the real property; and (B) will be held solely for rental or investment purposes. (3) Place of short-term lodging The term place of short-term lodging means a hotel, motel, inn, short-term rental, or other place of lodging that advertises at a price that is a nightly, hourly, or weekly rate.