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FHFA Tenant Protection

June 5, 2023

On May 30, the Federal Housing Finance Agency (FHFA) issued a Request for Input (RFI) on multifamily tenant protections. Comments are due July 31, 2023.

FHFA’s goals are to:

• Gather perspectives from tenants, lenders, property owners, developers, mortgage industry groups, and others on the challenges facing tenants at multifamily properties and the ways in which to address these challenges through tenant protections; and
• Improve data collection to better quantify the size and scope of challenges experienced by tenants at multifamily properties.

The RFI follows the Biden administration’s January 2023 announcement seeking to “increase fairness in the rental market and further principles of fair housing.” In conjunction with the announcement, the administration released a "Blueprint for a Renters Bill of Rights," outlining key steps federal agencies were taking in order to promote greater access to safe and affordable housing.

The Blueprint stated that FHFA and the GSEs would:

“Launch a process to conduct stakeholder outreach and engagement to identify the opportunities and challenges of adopting and enforcing tenant protections including policies that limit egregious rent increases at properties with Enterprise-backed mortgages going forward.”

CREFC will examine the RFI closely over the coming weeks and work with members to provide recommendations to FHFA.

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