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  • Comment Detail

  • Date: 07/21/23
    First Name: Ryan
    Last Name: Rice
    Email: spamrhinoceros@gmail.com
    Organization Type: other
    Organization: Homes Guarantee Campaign

  • Comment

    In the 10 years I have lived in this building (which was funded in part with a federal mortgage), I have experienced large annual rent increases. Most years, the rent increase has completely eclipsed the cost-of-living wage increase I get from my employer. Add inflation to the mix, and we have an untenable situation on our hands.

    The Federal Housing Finance Agency should protect tenants by limiting annual rent hikes to 1.5 times the Consumer Price Index or 3%, whichever is lower, in properties with federally backed mortgages. These limits should be applied universally as a requirement to all federally backed mortgage programs.

    In addition to limits on rent hikes, the FHFA should prohibit evictions without good cause, ban source of income discrimination, enforce and expand existing protections against discrimination, require safe and accessible housing conditions, create a landlord registry, require fair and standardized leases, ensure tenants have the right to organize, and create an Office of Tenant Protections to enforce these rights in all properties with federally backed mortgages.