Washington, D.C. - Recent reporting indicates that the Federal Trade Commission (FTC) is considering litigation regarding rental housing fees. Last year, the FTC specifically excluded rental housing providers from its final Trade Regulation Rule on Unfair and Deceptive Fees based on thousands of public comments demonstrating that rental housing transactions fundamentally differ from other business sectors and are already regulated under state law.
NMHC and our members strongly encourage the FTC to respect its own final rule and not to proceed with the potential costly litigation that will only make operating rental housing more expensive.
Moreover, NMHC has long been committed to enhancing renter choice and transparency through the creation of the Multifamily Information Transaction Standards (MITS) data model. MITS, originally released in 2003, has helped many rental housing providers enhance the effectiveness of technology and make it easier for renters to understand fee structures. Following months of work and public comment, MITS has issued new updates that further improve the model and improve the rental housing experience. More information about MITS can be found here.
NMHC encourages the new administration and the FTC, as well as members of Congress from both parties, to look for ways we can work together to lower costs, enhance the rental housing experience for renters and expand housing supply to create the housing so badly needed in communities across the country.
Based in Washington, D.C., the National Multifamily Housing Council (NMHC) is where rental housers and suppliers come together to help meet America’s housing needs by creating inclusive and resilient communities where people build their lives. We bring together the owners, managers, developers and suppliers who provide rental homes for 40 million Americans from every walk of life—including seniors, teachers, firefighters, healthcare workers, families with children and many others. NMHC provides a forum for leadership and advocacy that promotes thriving rental housing communities for all. For more information, contact NMHC at (202) 974-2300 or email the Council or visit NMHC's website at nmhc.org.
