Company: BHM
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001104659-25-026164
Chunk: 53

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 53
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 we are subject to HOA rules and regulations. HOAs have
the power to increase monthly charges and make assessments for capital improvements and common area repairs and maintenance. Property
taxes, HOA fees, and insurance premiums are subject to significant increases, which can be outside of our control. If the costs associated
with property taxes, HOA fees and assessments, or insurance rise significantly and we are unable to increase rental rates due to rent
control laws or other regulations to offset such increases, our results of operations would be negatively affected.

Our investments are and will continue to be concentrated in our markets and in the residential properties sector of the real estate industry, which exposes us to seasonal fluctuations in rental demand and downturns in our markets or in the residential properties sector.

Our
investments in real estate assets are and will continue to be concentrated in our markets and in the residential properties sector of
the real estate industry. A downturn or slowdown in the rental demand for housing caused by adverse economic, regulatory, or environmental
conditions, or other events, in our markets may have a greater impact on the value of our properties or our operating results than if
we had more fully diversified our investments. We believe that there are seasonal fluctuations in rental demand with demand higher in
the spring and summer than in the late fall and winter. Such seasonal fluctuations may impact our operating results. Any future outbreaks
of infectious disease, which may include COVID-19 or a future pandemic, could also result in demand for residential rental properties
decreasing substantially and/or occupancy decreasing materially. See “—Our business, results of operations, financial condition,
and cash flows may be adversely affected by pandemics and outbreaks of infectious disease, which may include COVID-19.”

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In
addition to general, regional, national, and international economic conditions, our operating performance will be impacted by the economic
conditions in our markets. We base a substantial part of our business plan on our belief that property values and operating fundamentals
for residential properties in our markets will continue to improve over the near to intermediate term. However, these markets have experienced
substantial economic downturns in recent years and could experience similar or worse economic downturns in the future. Additionally, a
significant outbreak of infectious disease in the human population or pandemic may result in a widespread health crisis adversely affecting
the economies and financial markets of many countries, resulting in an economic downturn that could negatively affect our business, results
of operations, and financial