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Tenant groups push FHFA for rent‑related conditions on Enterprise financing after testimony on eviction and displacement
Summary
Tenant organizations and a former resident testified that rent hikes and investor behavior at Enterprise‑backed properties are driving displacement; they urged FHFA to require stronger rent protections in Enterprise‑backed financing rather than voluntary pilots.
Tenant organizers and an individual tenant described a rental market in which rapid rent increases and consolidation are leading to displacement and homelessness, and they urged FHFA to consider stronger rent‑related conditions in Equitable Housing Finance plans.
The National Tenant Union Federation cited a 30.4% average rent increase nationwide between 2019 and 2023 and argued that voluntary, small pilot rent‑restriction programs will not adequately protect tenants. Harvey Nash, who identified himself as a former resident of an Enterprise‑backed property, described losing his home after repeated rent hikes and said the plans "are doing nothing meaningful" unless they address rent increases directly.
Why it matters: Stakeholders argued that Enterprise financing can shape landlord behavior and that conditions attached to purchases or loan terms could help preserve affordability in neighborhoods where Enterprise‑backed financing plays a role. Tenant groups asked FHFA to consider stronger, enforceable conditions rather than voluntary programs limited in scale.
Quote: "If these plans don't include rent regulation, you're doing nothing meaningful to increase affordable housing for tenants," a tenant speaker said. FHFA staff did not announce policy changes during the session.
Next steps: Tenant groups said they will submit detailed written comments and urged FHFA to consider operationally feasible mechanisms to link Enterprise financing to preservation outcomes.
