The Biden-Harris Administration is announcing new actions to increase fairness in the rental market and further principles of fair housing.
In addition, the administration is rallying state and local stakeholders and private housing actors to drive further action to protect renters in line with the blueprint. As part of this effort, the administration is launching the Resident-Centered Housing Challenge,
Early commitments in support of the challenge, which would affect over 15 million rental units, include:have capped annual rental increases to 5 percent per year for federally or state subsidized affordable housing. Beginning in 2023, WHEDA policy applies to existing residents in properties utilizing state or federal Low-Income Housing Tax CreditsMembers of the Stewards of Affordable Housing for the Future , which collectively own or manage 145,000 housing units across the U.S.
The National Association of Realtors and its affiliate, the Institute of Real Estate Management, commit to creating new resources for property managers in their network of 1.5 million members that highlight ways they can incorporate resident-centered property management practices in their businesses.
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