The Biden administration could strengthen tenant protections on a national scale by leveraging federally backed mortgages to mandate rent stabilization and bar discrimination in rental housing.
Tenant advocates want the government to take stronger action against landlords whose properties are backed by federal mortgages, reports Mike Ludwig in Truthout, accusing landlords of price gouging.
As Ludwig explains, “About 12 million rental units are in properties backed by Fannie Mae and Freddy Mac in a federal program created by Congress and managed by the Federal Housing Finance Agency (FHFA) that backs mortgages and home loans across the country.” This amounts to 25 percent of the nation’s multifamily housing.
Now, the Biden administration is weighing a proposal to attach rent control regulations to federally financed rental properties, part of the administration’s effort to create a ‘Renters Bill of Rights.’
According to the article, “The FHFA is wrapping up a public comment period on the proposal to enforce renter protections at federally financed properties, and tenants and members of Congress are also calling for ‘good cause’ eviction protections, the right to safe and habitable living conditions, the right to organize among tenants, and access to a national database of landlords who operate federally backed properties.” Activists also want to see protections for voucher recipients, who are often discriminated against.
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