Company: BHM
Filing Date: 2025-04-07
Form Type: POS AM
Source: 0001104659-25-032524
Chunk: 36

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-04-07
Form: POS AM
Chunk 36
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 COVID-19.” We can provide no assurance as to the extent property
values and operating fundamentals in these markets will improve, if at all. If the recent economic downturn in these markets returns or
if we fail to accurately predict the timing of economic improvement in these markets, the value of our properties could decline and our
ability to execute our business plan may be adversely affected to a greater extent than if we owned a real estate portfolio that was more
geographically diversified, which could adversely affect our financial condition, operating results, and ability to make distributions
to our stockholders and cause the value of our Series A Redeemable Preferred Stock or Class A common stock to decline.

We may not be able to effectively control the timing and costs relating to the renovation and maintenance of our properties, which may adversely affect our operating results and ability to make distributions to our stockholders.

Our properties may require
some level of renovation either immediately upon their acquisition or in the future following expiration of a lease or otherwise. We may
acquire properties that we plan to extensively renovate. We may also acquire properties that we expect to be in good condition only to
discover unforeseen defects and problems that require extensive renovation and capital expenditures. To the extent properties are leased
to existing residents, renovations may be postponed until the resident vacates the premises, and we will pay the costs of renovating.
In addition, from time to time, we may perform ongoing maintenance or make ongoing capital improvements and replacements and perform significant
renovations and repairs that resident deposits and insurance may not cover. Because our portfolio consists of geographically dispersed
properties, our ability to adequately monitor or manage any such renovations or maintenance may be more limited or subject to greater
inefficiencies than if our properties were more geographically concentrated.

Our properties have infrastructure
and appliances of varying ages and conditions. Consequently, we routinely retain independent contractors and trade professionals to perform
physical repair work and are exposed to all of the risks inherent in property renovation and maintenance, including potential cost overruns,
increases in labor and materials costs, delays by contractors in completing work, delays in the timing of receiving necessary work permits,
certificates of occupancy, and poor workmanship. Additionally, containment measures arising from any future outbreaks of infectious disease,
which may include COVID-19 or a future pandemic, may also interfere with the ability of our associates, suppliers, and other business
partners to carry out their assigned tasks or supply materials, services, or funding at ordinary levels of performance relative to the
conduct