This is the first time that tenant protections will be a standard component of multifamily financing by the government-sponsored enterprises (GSEs). They are being implemented after FHFA’s ongoing engagement with market participants and key stakeholders on tenant issues. Housing providers with new Fannie Mae and Freddie Mac loans signed on or after the policy effective date will be required to provide tenants the following: A 30-day written notice of a rent increase; A 30-day written notice of a lease expiration; and A five-day grace period for rent payments. “The tenant protections announced today are the culmination of a collaborative effort between FHFA, the [GSEs], tenants, and landlords to address challenges faced in rental housing today,” stated FHFA director Sandra L. Thompson. “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" https://lnkd.in/eCB-YJUs