Today, Freddie Mac and Fannie Mae jointly published a framework for the new residential lease standards that were announced last month by the Federal Housing Finance Agency. This framework is part of our ongoing effort to enhance tenant protections and opportunities for renters.

For new Freddie Mac Multifamily loans that go under application on or after February 28, 2025, the policy requires:

  • a 5-day grace period for late rent payments
  • a 30-day notice of rent increase 
  • a 30-day notice of a lease term’s scheduled expiration

While many borrowers already provide these protections, the new policy would bring properties with a Freddie Mac or Fannie Mae Multifamily loan to a common standard.

The framework outlines for lenders, borrowers and other market participants how we’ll implement the new requirements. You’ll find this new framework in the Originate & Underwrite section of our website:

We developed the framework after consulting borrowers, lenders, advocates and others. Working with all of you, and across the multifamily industry, we’ll continue to support resident-centered housing practices and efforts to improve outcomes for our nation’s renters.

Read the press release.