Fannie Mae Announces New Plans for Tenant Protections at GSE-Financed Multifamily Properties
Fannie Mae (FNMA) has announced new tenant protections for multifamily properties with GSE-backed mortgages, effective February 28, 2025. The Enterprise Multifamily Lease Standards Policy requires borrowers to include three minimum standards in tenant leases:
- 30-day notice for rent increases
- 30-day notice for lease expiration
- 5-day grace period for late rent payments
Fannie Mae and Freddie Mac have published FAQs and a policy grid to aid implementation. In 2023, Fannie Mae financed about 482,000 multifamily rental units, mostly affordable for households earning up to 120% of area median income. The policy aims to support housing stability and aligns with Fannie Mae's mission to expand access to affordable and sustainable housing.
Fannie Mae (FNMA) ha annunciato nuove protezioni per gli inquilini per proprietà multifamiliari con mutui garantiti da GSE, che entreranno in vigore il 28 febbraio 2025. La Politica degli Standard di Locazione Multifamiliare dell'Enterprise richiede ai mutuatari di includere tre standard minimi nei contratti di locazione degli inquilini:
- preavviso di 30 giorni per gli aumenti dell'affitto
- preavviso di 30 giorni per la scadenza del contratto di locazione
- periodo di grazia di 5 giorni per i pagamenti dell'affitto in ritardo
Fannie Mae e Freddie Mac hanno pubblicato FAQ e una griglia politica per agevolare l'implementazione. Nel 2023, Fannie Mae ha finanziato circa 482.000 unità di affitto multifamiliare, per lo più a prezzi accessibili per famiglie con un reddito fino al 120% del reddito medio della zona. La politica mira a supportare la stabilità abitativa e si allinea con la missione di Fannie Mae di ampliare l'accesso a alloggi accessibili e sostenibili.
Fannie Mae (FNMA) ha anunciado nuevas protecciones para los inquilinos de propiedades multifamiliares con hipotecas respaldadas por GSE, que entrarán en vigor el 28 de febrero de 2025. La Política de Normas de Arrendamiento Multifamiliar de la Empresa requiere que los prestatarios incluyan tres estándares mínimos en los contratos de arrendamiento de inquilinos:
- aviso de 30 días para aumentos de alquiler
- aviso de 30 días para la expiración del contrato de arrendamiento
- período de gracia de 5 días para pagos de alquiler atrasados
Fannie Mae y Freddie Mac han publicado preguntas frecuentes y una cuadrícula de políticas para ayudar en la implementación. En 2023, Fannie Mae financió aproximadamente 482,000 unidades de alquiler multifamiliar, mayormente asequibles para familias que ganan hasta el 120% del ingreso medio del área. La política tiene como objetivo apoyar la estabilidad habitacional y se alinea con la misión de Fannie Mae de expandir el acceso a la vivienda asequible y sostenible.
팬니 메이(FNMA)는 GSE 지원 모기지가 있는 다가구 재산에 대한 새로운 세입자 보호 조치를 2025년 2월 28일부터 시행한다고 발표했습니다. 기업 다가구 임대 기준 정책은 차용인이 세입자 임대 계약에 세 가지 최소 기준을 포함해야 한다고 요구합니다:
- 임대료 인상 30일 전에 통지
- 임대 계약 만료 30일 전에 통지
- 연체된 임대료에 대한 5일의 유예 기간
팬니 메이와 프레디 맥은 구현을 돕기 위해 FAQ 및 정책 그리드를 발표했습니다. 2023년에는 팬니 메이가 약 482,000개의 다가구 임대 유닛을 재정 지원했으며, 이는 주거 평균 소득의 120%까지 벌어들이는 가구에게 주로 저렴했습니다. 이 정책은 주거 안정을 지원하는 것을 목표로 하며 팬니 메이의 사명인 저렴하고 지속 가능한 주택 접근성을 확대하는 것과 일치합니다.
Fannie Mae (FNMA) a annoncé de nouvelles protections pour les locataires des propriétés multifamiliales avec des hypothèques soutenues par GSE, en vigueur le 28 février 2025. La Politique des Normes de Location Multifamiliale de l'Enterprise exige que les emprunteurs incluent trois normes minimales dans les baux des locataires :
- un préavis de 30 jours pour les augmentations de loyer
- un préavis de 30 jours pour l'expiration du bail
- une période de grâce de 5 jours pour les paiements de loyer en retard
Fannie Mae et Freddie Mac ont publié des FAQ et une grille de politique pour aider à la mise en œuvre. En 2023, Fannie Mae a financé environ 482 000 unités locatives multifamiliales, principalement abordables pour les ménages gagnant jusqu'à 120 % du revenu médian de la région. La politique vise à soutenir la stabilité du logement et s'aligne sur la mission de Fannie Mae d'élargir l'accès à un logement abordable et durable.
Fannie Mae (FNMA) hat neue Mieter Schutzmaßnahmen für Mehrfamilienhäuser mit von GSE gestützten Hypotheken angekündigt, die am 28. Februar 2025 in Kraft treten. Die Richtlinie zu den Unternehmens-Mietstandards für Mehrfamilienhäuser verpflichtet Kreditnehmer, drei Mindeststandards in Mietverträgen aufzunehmen:
- 30 Tage Vorankündigung bei Mieterhöhungen
- 30 Tage Vorankündigung bei Mietvertragsablauf
- 5-tägige Nachfrist für verspätete Mietzahlungen
Fannie Mae und Freddie Mac haben FAQs und ein Richtlinienraster veröffentlicht, um die Umsetzung zu unterstützen. Im Jahr 2023 finanzierte Fannie Mae etwa 482.000 Mehrfamilienmieteinheiten, die größtenteils für Haushalte erschwinglich sind, die bis zu 120 % des durchschnittlichen Einkommens der Region verdienen. Die Richtlinie zielt darauf ab, die Wohnstabilität zu unterstützen und steht im Einklang mit der Mission von Fannie Mae, den Zugang zu erschwinglichem und nachhaltigem Wohnraum zu erweitern.
- Implementation of tenant protection measures, potentially improving tenant satisfaction and stability
- Alignment with Fannie Mae's mission to expand access to affordable and sustainable housing
- Financed approximately 482,000 multifamily rental units in 2023, majority affordable for households earning up to 120% of area median income
- Potential increased administrative burden for borrowers to comply with new lease standards
- Possible resistance from property owners due to reduced flexibility in lease terms
Notification and Grace Period Lease Requirements for New Multifamily Loans Begin February 2025
Under the policy, which is effective beginning February 28, 2025, all new GSE-backed loans will require multifamily borrowers to include the following three minimum standards within tenant leases*:
- 30-Day Notice of Rent Increases: Renters will receive written notice of a rent increase at least 30 calendar days prior to said increase.
- 30-Day Notice of Lease Expiration: Renters will receive written notice of the scheduled expiration of the residential lease at least 30 calendar days prior to said expiration.
- 5-Day Grace Period for Late Rent Payments: Renters will receive a minimum five calendar day period from the rent due date before late fees or other penalties can be charged.
To provide additional transparency to tenants and to help lenders and borrowers implement the new requirements, Fannie Mae and Freddie Mac today published FAQs related to the standards and an initial policy grid that outlines the policy, applicability, updates to loan documents, implementation requirements for borrowers, and monitoring and enforcement details. Fannie Mae will provide additional details to lenders and borrowers prior to the February 2025 effective date and will publish on its website information to help tenants understand their rights and responsibilities.
"Fannie Mae is committed to implementing protections that support housing stability for the individuals and families who live in the multifamily rental properties we back. The new Enterprise Multifamily Lease Standards align with our mission to expand access to housing that is both affordable and sustainable. They reflect our comprehensive Renter Needs Research and methodical approach to analyzing renter obstacles and outcomes and will provide the industry with consistent expectations regarding tenant notification and grace period practices," said Michele Evans, Executive Vice President and Head of Multifamily, Fannie Mae. "We look forward to continuing to work closely with FHFA, Freddie Mac, our lenders and borrowers, and other multifamily housing stakeholders on these and other important solutions to address the challenges faced by renter households across the country."
Fannie Mae is a leading source of multifamily mortgage financing in America. In 2023, the company financed approximately 482,000 units of multifamily rental housing, a significant majority of which were affordable to households earning at or below
*The policy requirement will apply to all multifamily properties for which new loan applications with Fannie Mae or Freddie Mac are signed on or after February 28, 2025, with the following exceptions: Manufactured Housing Communities, which fall under a separate tenant protections policy established by Duty to Serve; existing credit facilities including loans funded through credit facility agreements that pre-date February 28, 2025; loans for cooperative housing corporations; and loans that were originated using third-party (i.e., non-Enterprise) form loan documents.
About Fannie Mae
Fannie Mae advances equitable and sustainable access to homeownership and quality, affordable rental housing for millions of people across America. We enable the 30-year fixed-rate mortgage and drive responsible innovation to make homebuying and renting easier, fairer, and more accessible. To learn more, visit:
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FAQ
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