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| NAA FIVE |
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A weekly digest of key rental housing news and takeaways
prepared exclusively for NAA’s leadership
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| The Big Picture: The rental housing industry is searching for growth, evident in some of this week's latest news reports. While Iowa's Supreme Court has ruled on the CARES Act eviction language, Utah is also looking to clarify part of its eviction timeline. Built-for-rent homes continue to come online at a faster pace, and national median rent increased. |
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CARES Act 30-Day Notice: The Iowa Supreme Court unanimously reversed two lower court decisions that had dismissed eviction filings and held that the 30-day notice to vacate provision in the Coronavirus Aid, Relief and Economic Security Act (CARES Act) only applied to the 120-day moratorium in 2020. This is the first published CARES Act case in the country that has been a complete victory for the multifamily housing industry, holding that not only did the notice to vacate provisions of the CARES Act lapse, but that the 30-day notice to vacate only applied to rent default evictions. Learn more.
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Overregulation of Housing: "Behind the High Cost of Rent” highlights the unintended consequences of overregulating the rental housing industry. While these laws aim to protect renters, these measures, while often well-intentioned, risk exacerbating the very challenges they aim to resolve. Read more.
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Value of Advocacy: NAA responded to nearly 40 agency actions related to the Blueprint for a Renters Bill of Rights directive, including 34 comment letters to agency officials to help them understand impacts to housing markets and rental communities. NAA worked together with its coalition partners to further amplify the industry’s perspective with regulators contemplating major changes to federal policies. Every step of the way, its efforts were amplified by countless member and affiliate actions – 11,651 in 2024 alone – that provided critical state, local and industry perspective. Get Involved.
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FHFA Issues Pause: The Federal Housing Finance Agency (FHFA) has issued a three-month pause on its directive imposing three new federally mandated landlord and tenant requirements on covered multifamily properties financed through Fannie Mae and Freddie Mac. Given the imminent effective date of this directive, Feb. 28, FHFA’s announcement is a win for the industry. (NAA)
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