On Wednesday, the Biden administration unveiled actions it plans to take to protect people living in rental housing, which accounts for about 35% of the U.S. population, in over 44 million households.
that people are starting to"breathe just a little bit easier" because fewer families are facing eviction than before the pandemic.
The agencies also plan to collect a broad range of data that look at such practices as the creation of tenant background checks and how they are used, and how landlords use a renter’s source of income to make housing decisions. The move marks the first time that the FTC has issued a request so it can gather information to examine unfair practices in the rental market.
Last year, the two federal mortgage corporations purchased a combined $142 billion in multifamily loans, supporting over 1 million units. The White House is hoping for movement in that same direction for 2023, which would mean an investment in an estimated 700,000 affordable units. The White House left the door open for even more commitments from interested parties to create new benefits for renters that “enhance their economic mobility, build credit, and prepare them for homeownership.” The administration also called for more stakeholders to improve the quality of communication on tenant rights, eliminate hidden fees, charges and add-ons, as well as opening up pathways to eviction mitigation and prevention.
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