FHFA Announces Tenant Protection Policies
New Fannie Mae and Freddie Mac multifamily mortgage loans must include tenant protections that include 30-day notices for rent increases and lease expirations.
WASHINGTON – The Federal Housing Finance Agency (FHFA) announced tenant-protection policy changes for all new multifamily mortgage loan applications financed by Fannie Mae and Freddie Mac
The new policies represent “the first time that tenant protections will be a standard component” of Fannie Mae or Freddie Mac financing, the FHFA said. It will apply to all new multifamily mortgage loan applications signed on or after Feb. 28, 2025.
Covered housing providers will be required to provide tenants with the following:
- 30-day written notice of a rent increase
- 30-day written notice of a lease expiration
- 5-day grace period for rent payments
“The tenant protections announced today are the culmination of a collaborative effort between FHFA, the Enterprises (Fannie Mae and Freddie Mac), tenants and landlords to address challenges faced in rental housing today,” FHFA Director Sandra L. Thompson said. “These requirements reflect basic best practices to ensure housing providers effectively communicate with tenants and that tenants understand their rights and responsibilities under their leases.”
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