Requires tenants in Enterprise-backed multifamily properties to be given at least 30 days’ notice before they can be required to vacate
Today, the Federal Housing Finance Agency (FHFA) announced that tenants of multifamily properties with mortgages backed by Fannie Mae or Freddie Mac (the Enterprises) who are subject to eviction for nonpayment of rent must be given 30 days’ notice to vacate before the tenant can be required to leave the unit. This requirement applies to all Enterprise-backed multifamily properties, regardless of whether the loan is in forbearance.
FHFA is working closely with the Enterprises to communicate the 30-day notice requirement to landlords of and tenants living in Enterprise-backed properties.
The Centers for Disease Control and Prevention’s (CDC) eviction moratorium expires on July 31, 2021.
“Many families across the country, particularly renters, are still struggling financially due to the COVID-19 pandemic. It is important to clearly communicate available protections to both landlords and tenants,” said Acting Director Sandra L. Thompson. “FHFA wants to ensure tenants in Enterprise-backed multifamily properties know their right to receive at least 30-days of notice before they are required to vacate their rental unit.”
On June 24, 2021, the White House published a Fact Sheet outlining various federal initiatives to promote housing stability by supporting vulnerable tenants and preventing foreclosures. FHFA’s website also has a Fact Sheet on tenant protections for Enterprise-backed properties in response to COVID-19.
In addition, Emergency Rental Assistance funds made available by federal legislation are available to tenants who are behind on rent or continuing to experience hardship due to the COVID-19 pandemic. Tenants can learn more about Emergency Rental Assistance programs by visiting the Consumer Financial Protection Bureau’s online Rental Assistance Finder.