NAA Click & Lease Forms Update
Dear NAA Click & Lease User,
The NAA Click & Lease Program will be updated on February 12, 2025 to include the following changes to your lease forms. The Release Notes, which are accessible when logged into your NAA Click & Lease Program, include copies of these upcoming forms.
Should you have any questions about these changes, please contact NAA. As always, we recommend you and your local legal counsel review all new and/or updated forms before implementing them into your leasing operations.
On July 12, 2024, the Federal Housing Finance Agency (FHFA) announced the new Multifamily Lease Standards Policy (the Policy) for multifamily properties financed by Fannie Mae and Freddie Mac (the Enterprises). The Policy will apply to all new loans for which an application is signed on or after February 28, 2025.
This Policy introduces three key standards that will be incorporated into residential leases:
- 30-Day Notice of Rent Increase: Requires written notice of any rent increase at least 30 calendar days before the increase takes effect.
- 30-Day Notice of Lease Expiration: Requires written notice of the scheduled lease expiration at least 30 calendar days prior to the expiration date.
- 5-Day Grace Period for Late Rent Payments: Provides a minimum five-calendar-day grace period from the rent due date before late fees or penalties can be applied.
Additional Resources: The Enterprises have provided the following resources:
New Form:
- Federal Housing Finance Agency (FHFA) Amendment to Lease Contract
- This new form will be automatically enabled in the print menu.
- The following default fields will appear on the form:
- ADDRESS
- UNIT-NUMBER
- CITY
- ZIP
- DATE-OF-LEASE
- OWNER
- RESIDENT-1 thru RESIDENT-6
- A new field appears on this form. This new field will be available in the “FHFA Addendum” section of the lease editor. A recurring default value may be saved:
- FHFA-SPECIAL-PROVISIONS
- This form will be available for eSignature.
- This form will be available in the following states:
- Alabama
- Arizona
- California
- Colorado
- Delaware
- Dist. of Columbia
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Utah
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
- Forms for states not listed above will be released as soon as possible.
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