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My name is Will, and I am a tenant in Lexington, KY.

I have been fortunate to find an affordable apartment in my city . However, I am all too aware that this would not have been possible if both I and my partner did not have full-time jobs that pay more than the federal minimum wage. I also worry that our circumstances could change at any time. If our landlord decides to raise our rent, or if we have to move for any reason, it is very likely that we would be hard pressed to remain financially stable.

I acknowledge that I am very lucky to be in my current living situation, but I also know that I and many others are only one or two steps away from finding ourselves in less fortunate living situations largely because of decisions that will be out of our hands with the way things are now. No one should have to constantly worry that they may wake up one day and suddenly find themselves in an unsustainable living situation. Everyone deserves the right to secure, safe, and fair housing, and the Federal Housing Finance Agency has the chance to bring us closer to that reality.

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.