Bill > S1194

This bill establishes comprehensive protections for manufactured home community residents by creating new requirements for federally backed financing programs. Specifically, the bill mandates that loan programs for manufactured home communities can only provide financing to borrowers who include specific tenant protections in their lease agreements. These protections include guaranteed one-year lease terms, advance written notice of rent increases (with at least 60 days' notice and additional notice for increases over 5%), a 5-day grace period for rent payments, a 15-day window to cure rent payment defaults, and rights for manufactured home owners to sell their homes within the community without relocation. The bill also creates a 16-member Manufactured Home Community Lending Standards Commission to develop additional consumer protection standards and establishes significant penalties for borrowers who violate these tenant protections, including potential loss of future federal financing and mandatory payments to injured tenants. The legislation aims to provide more stability and fairness for manufactured home residents by ensuring their lease agreements include fundamental consumer safeguards and giving them more predictability and security in their housing arrangements. Importantly, the bill does not require new federal funding and allows states to implement even stronger tenant protections beyond those outlined in the federal legislation.

Housing and Urban Affairs

https://www.congress.gov/bill/119th-congress/senate-bill/1194/all-info