Yahoo Finance Freddie Mac Multifamily White Paper Surveys Statewide Tenant Protections
MCLEAN, Va., Feb. 06, 2023 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) Multifamily today released a first-of-its-kind comparative analysis of tenant protections provided by state landlord tenant acts. The research offers a full accounting of 18 different tenant protection topics and provides examples of the nuanced approaches different states have taken to govern the unique relationship between landlords and tenants. The full report is available at FreddieMac.com.
“Freddie Mac believes this research can serve as a resource for the public and industry stakeholders who are seeking a better understanding of the state laws that govern the relationship between landlords and renters,” said Corey Aber, vice president of Multifamily Mission, Policy & Strategy for Freddie Mac. “Our research shows that each state has sought to address tenant protections in its own unique way. This work provides a strong foundation for efforts to better understand the complex legal landscape that governs the renting experience.”
Freddie Mac divided its comparative analysis of the 18 tenant protections topics into five categories, including: tenant screening; rent, late payments, and security deposits; habitability and retaliation; pre-eviction protections including notice and opportunity to cure lease violations; and, eviction fees, right to counsel and eviction diversion programs.
The researchers highlighted several key trends and outliers in how states address tenant protections, including that:
Seven states have laws prohibiting a landlord's use of certain information, such as a tenant's criminal history, when screening tenants.
Three states have state-wide limits on rent increases.
Forty-four states require landlords to give tenants notice of rent payment defaults before the landlord can begin the eviction process.
Forty-four states have laws that prohibit eviction or other forms of retaliation by a landlord in response to a tenant's exercise of their legal rights.
Three states grant certain tenants a right to counsel in an eviction proceeding.
In addition to publishing the research paper, Freddie Mac provided a spreadsheet breakout of tenant protections in place across all 50 states, Guam, and the District of Columbia.
Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability, affordability and equity in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More: Website | Consumers | Twitter | LinkedIn | Facebook | Instagram | YouTube
MEDIA CONTACT:
Kate Hartig
(703) 903-3802
Kate_Hartig@FreddieMac.com
