The Federal Housing Finance Agency (FHFA) rescinded the Biden administration’s multifamily leasing policies that would have placed additional requirements on housing providers with loans from Fannie Mae or Freddie Mac.
These requirements would have included:
- An additional 30-day written notice of a rent increase;
- An additional 30-day written notice of a lease expiration; and
- A five-day grace period for late rent payments.
FHFA Director Bill Pulte’s announcement on X to revoke the policies supersedes a decision from February 21, 2025, to delay implementation until May 31, 2025.
Why This Matters: Many states and local governments have policies related to lease notices and grace periods for late fees. Owners will now not be subject to additional federal requirements.
