The vibrant apartment industry and its 40 million residents contribute $ 3.4 trillion to the U.S. economy annually. The industry’s future health and competitiveness are impacted by the overarching, critical issues of housing affordability and regulatory reform in addition to singular policy priorities.
Critical Policy Issues
Support credible and proven policies to address the housing affordability crisis–while opposing failed policies such as rent control and counterproductive eviction restrictions. As part of this effort, we must increase supply by breaking down barriers to construction.
At a time when the multifamily industry is facing increasing pressure to meet booming demand, an overly burdensome regulatory infrastructure is forcing financers, developers, and operators to manage numerous compliance hurdles and rising costs. These counterproductive regulations prevent the apartment industry from meeting the demand for housing.
Priority Policy Issues
Rent control laws set a ceiling on rents and severely limit or prohibit property owners from raising rents. Rather than improving the availability of affordable housing, rent control laws exacerbate shortages, cause existing buildings to deteriorate and disproportionately benefit higher-income households.
Continue to clarify federal policy on emotional support animals, disparate impact, accessibility and other areas of fair housing law and regulation.
Preserve necessary resident screening tools and ensure that consumer reporting reforms do not make screening impracticable or hinder apartment providers from properly managing risk.
Enact beneficial tax provisions such as a fix to the floating rate of the Low-Income Housing Tax Credit, FIRPTA reform and a Middle-Income Tax Credit and ensure proper implementation of the Tax Cuts and Jobs Act, especially on depreciation, pass-through income and opportunity zones.
Significant Policy Issues
Construction & Development
Finance & Capital Markets
- Violence Against Women Act (VAWA)
- Rental Assistance Demostration (RAD)
- Fair Market Rents (FMRs) & Small Area Fair Market Rents (SAFMRs)
- American Community Survey
Labor & Employment