The White House announced a plan to promote rent affordability and strengthen tenant protections, including a non-binding "Blueprint for a Renters Bill of Rights." The plan involves federal agencies gathering data to inform future policy, while state and local governments are asked to strengthen their policies. The plan includes regulating security deposits, allowing tenants to organize, increasing access to affordable housing, and protecting tenants against discrimination and eviction. The plan aims to end unfair tenant practices and hold companies accountable. The Federal Housing Finance Agency is asked to examine ways to stop extreme rent increases, and tenants of public housing and project-based rental assistance will get a minimum 30-day cushion before landlords can terminate their lease.
Some housing advocates are asking for more, particularly holding corporate landlords accountable for their behavior. This new plan will be an important thing to pay attention to as rental property owners this could negatively impact your business. For more information visit: https://www.forbes.com/sites/anafaguy/2023/01/25/biden-proposes-renters-bill-of-rights---heres-what-it-will-do/?sh=57945ab750f3