Manufactured Housing Communities (MHCs) are an important source of affordable housing, especially in rural areas, and Fannie Mae is committed to expanding and strengthening tenant protections in the MHCs that we finance.
As we continue our focus to increase the number of tenants who receive these protections, Guide Update 21-19 announced that for loans committed on or after December 31, 2021, Tenant Site Lease Protections (TSLPs) must be implemented on 100 percent of Site Leases – both owner-occupied and tenant-occupied.
TSLPs preserve the affordability and stability of MHCs across the country and are an important tool to safeguard the rights of tenants. Our TSLP requirements go above and beyond most current state and local requirements.
In 2021, we also introduced a simplified method for implementing the protections, which reduces the operational effort for owners to implement and ensures that community residents receive notice of the protections available to them.
Questions? Please reach out to the MHC Financing Team:
Check out additional resources available on our website
We look forward to working with you in 2022 on your next MHC loan.