In addition to advocating for critical relief in the next COVID-19 package, NMHC continues to advocate on issues that impact the industry’s long-term health and competitiveness. We remain focused on the overarching 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.
Priorities for Additional COVID-19 Relief
The apartment industry is playing a critical role as we seek to contain the COVID-19 outbreak across the nation. Apartment operators, employees and residents need economic relief immediately to avoid a collapse of the rental housing sector that provides homes for 40 million Americans. As Congress looks at the next phase of relief, NMHC continues to make the case for critically needed emergency relief. Learn about NMHC COVID-19 advocacy efforts >>>
Emergency Rental Assistance
Create a temporary rental assistance program for those impacted by the COVID-19 emergency and who are struggling to pay their rent.
Mitigate the Impact of the CDC’s Eviction Moratorium
Establish a rental assistance program to support property owners and renters who are financially impacted by the moratorium
Expanded Mortgage Forbearance
Provide mortgage forbearance protection to all multifamily properties and align the protections with local, state or federal eviction moratoria.
Create credit and liquidity facilities for mortgage servicers and rental property owners under the Federal Reserve.
Access for Multifamily in Federal Lending Programs:
Ensure eligibility for all apartment owners and developers in the Small Business Administration’s Paycheck Protection and the Federal Reserve’s Mainstreet Lending Programs.
Enact Liability Protections:
Provide targeted liability protections from COVID-19-related litigation for apartment firms that work to follow applicable public health guidelines in reopening.
Provide Pandemic Risk Insurance/Recovery Funding:
Establish a federal economic business recovery fund and enact the Pandemic Risk Insurance Act to help apartment owners recover from this pandemic and prepare for the next.
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