The U.S. Department of Agriculture’s Rural Housing Service (is delivering on the Trump administration’s mandates to reduce regulatory burden by publishing a final rule rescinding the regulatory requirement of the minimum 30-day notice for nonpayment of rent before initiating eviction proceedings.
The final rule removes burdensome and duplicative requirements for RHS Multifamily Housing Program borrowers.
The final rule previously introduced additional unnecessary regulatory oversight for RHS Multifamily Housing properties for compliance with the Coronavirus Aid, Relief, and Economic Security Act.
Additionally, the requirement for the borrower to disseminate information on federal funding available during a presidentially declared national emergency will be rescinded, as RHS will distribute the associated information during such circumstances.
Click here for more details on the final rule published in the Federal Register.
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