The Big Picture
On January 30, 2026, the Federal Trade Commission (FTC) announced that the agency will pursue an Advance Notice of Proposed Rulemaking (ANPRM) concerning “fees in the rental housing market.” As required in the federal rulemaking process, the agency submitted its draft rule to the Executive Office of the President for approval. The Commission voted 2-0 to refer the ANPRM to the presidential Office of Management and Budget (OMB).
Per Executive Orders 12866 and 14215, the FTC submitted the proposed rule for review by the Office of Information and Regulatory Affairs (OIRA) within the OMB because it is expected as a “significant regulatory action.” OIRA will also ensure alignment with President Trump’s priorities.
Public information about the proposed rule is limited at this time. However, two settlements the FTC made in September 2024 and, more recently in December 2025, could indicate the direction of the agency’s rulemaking. In the FTC’s announcement, Chairman Andrew Ferguson also issued the following statement on the ANPRM which may be instructive:
"For too long, Americans have been unjustly squeezed of their hard-earned pay by hidden fees and other unfair or deceptive business practices in housing rental markets. The American consumer deserves honesty and transparency in housing rental agreements. To that end, we will be soliciting public comment on the need for a new rule to prevent the imposition of deceptive or unfair fees on renters seeking long-term housing options. Congress has empowered the FTC to promulgate rules that aid in enforcing our nation’s laws against unfair or deceptive trade practices and a new rule may enhance our capacity to bring enforcement actions against violators of those laws. The President has prioritized reducing cost of living and affordability in the housing market; the Trump-Vance FTC is delivering on both."
What’s Next
After the proposed rule is approved by OIRA, the ANPRM will be published in the Federal Register and the agency will seek public input. National Apartment Association (NAA) members can count on NAA to voice the rental housing industry’s perspective on price transparency throughout the federal rulemaking process. NAA affiliate partners should also be on the lookout for opportunities to amplify the industry’s message.
Transparency is fundamental to every aspect of a housing provider’s business model. Housing providers communicate expected rental housing costs to applicants and residents throughout the leasing process and detail these costs in lease documents for renters to reference at any time. Housing providers use fees to facilitate essential business practices and to provide residents with concierge-type services or benefits throughout the lifecycle of their residency. Yet housing providers require flexibility to develop their own policies and practices that best suit their own business structure and the unique needs of the residents they serve.