The bill would require owners seeking certain federally backed loans for manufactured home communities to include minimum protections in leases across communities they own. Protections include renewable one-year leases, advance notice and explanations of rent increases, time to pay overdue rent, and rights for residents who own their homes to sell or transfer them. It would also require notice and good-faith negotiations with tenants before a community is sold, limit reasons for ending a tenancy, and create penalties for certain violations. A federal commission would recommend stronger protections, and the housing finance regulator would develop a standard site lease.
If you rent a site in a manufactured home community whose owner uses a covered loan program, the bill would require the owner to provide the listed lease protections. These include written notice of rent increases, a five-day grace period for rent, and a 15-day period to cure missed rent. Residents who own their homes would have certain rights to sell or transfer them. The bill would also make covered properties and some existing tenant-protection programs publicly available online. State or local laws could provide stronger protections.
The bill authorizes no additional funding. It directs that expenses be paid from amounts otherwise available to the Department of Housing and Urban Development or the Federal Housing Finance Agency.
No publicly available information.
No publicly available information.