Bill > S2148

This bill aims to eliminate what are considered "junk fees" in the rental housing market by establishing new regulations for property owners of federally-backed or federally-assisted housing units. The bill prohibits owners from charging application fees and tenant screening fees, such as those for criminal background or credit checks, to potential renters. It also limits late payment fees to no more than 3% of the monthly rent and only allows such fees to be charged after 15 days past the due date. Additionally, the bill requires property owners to provide comprehensive disclosures before lease signing, including the total monthly amount due, a summary of past litigation, descriptions of maintenance or pest issues, and a 10-year history of rent increases. The legislation directs the Bureau of Consumer Financial Protection and the Federal Trade Commission to define "junk fees" within 180 days and establish rules preventing the reporting of unpaid junk fees to credit reporting agencies. The bill applies to various types of housing, including single-family and multi-family properties with federal backing, and covers a wide range of property owners from private entities to public housing agencies, with different federal agencies designated to oversee compliance based on the type of housing and mortgage.

Housing and Urban Affairs

https://www.congress.gov/bill/119th-congress/senate-bill/2148/all-info