Advertisement
Enjoy access to a free NMLS renewal class when you attend an in-person event.
Wednesday, the Federal Housing Finance Agency (FHFA) announced that tenants of multi-family properties must be given 30 days notice to vacate before the tenant is required to leave the premise.
KEY TAKEAWAYS
- Those who are subject to eviction for nonpayment of rent must be given 30 days notice to vacate before the tenant is required to leave the premise.
- This policy applies to all multi-family properties backed by the Enterprises.
- The Center for Disease Control (CDC) moratorium on evictions will expire on July 31, 2021.
The Federal Housing Finance Agency (FHFA) announced Wednesday that tenants of multi-family 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 is required to leave the premise. This policy applies to all multi-family properties backed by the Enterprises.
“Many families across the country, particularly renters, are still struggling financially due to the COVID-19 pandemic,” said Acting Director Sandra L. Thompson. “It is important to clearly communicate available protections to both landlords and tenants. 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.”
The Center for Disease Control (CDC) moratorium on evictions will expire on July 31, 2021. The White House published a fact sheet on tenant protections for Enterprise-backed properties, and Emergency Rental Assistance will be made available for tenants who are behind on rent or still experiencing hardships due to the pandemic.
For more information on options to assist homeowners and renters impacted by the COVID-19 pandemic, please visit FHFA.gov or CFPB.gov/housing.
