Freddie Mac: New Tenant Protections For MHCs

As part of its efforts to protect affordable housing, Freddie Mac announced new tenant protections for Manufactured Housing Communities (MHC). The protections include renewable lease terms, written notice of rent increases, grace periods for late rental payments, and rights governing the sale of manufactured homes at MHCs. They are intended to protect people who own manufactured homes but pay rent on the property beneath them. “Manufactured housing communities often represent the most affordable multifamily housing option available in many areas, particularly rural areas,” said Debby Jenkins, executive vice president of Freddie Mac Multifamily.  “We have been ramping up our tenant protections offering since 2018, and today we’re making these protections a requirement for all future transactions.” Restrictive zoning ordinances and…