The apartment sector is a vibrant and robust industry that helps 39 million renters and contributes $1.3 trillion to the U.S. economy annually. The industry’s future health and competitiveness is impacted by the overarching, critical issues of housing affordability and regulatory reform in addition to singular policy priorities.
Critical Policy Issues
Housing Affordability
A growing number of working families are struggling to find housing they can afford.
And as the number of renters has reached an all-time high, the surge in demand has placed significant pressure on the available apartment supply, making it difficult for millions of families nationwide to find quality rental housing that is affordable across the income spectrum.
Regulatory Reform
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.
The industry, and particularly apartment owners and developers, must balance a wide array of concerns regarding project viability, regulatory cost and compliance at all levels of government.
Priority Policy Issues
Rent control
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.
Flood Insurance
Reform the National Flood Insurance Program to support more effective coverage for the apartment housing industry including a long-term reauthorization and private market solutions.
Fair Housing
Clarify and update fair housing compliance requirements related to occupancy standards, emotional support animals and other areas of fair housing law and regulation.
Data Security
Ensure federal data security and breach notification laws are structured appropriately for rental housing providers and do not impose overly burdensome compliance obligations.
Housing Finance Reform
Ensure the continuation of a federal guarantee and preserve the ability of Fannie Mae and Freddie Mac to provide necessary capital financing to the apartment industry.
Consumer Reporting
Preserve necessary resident screening tools and ensure that consumer reporting reforms do not unnecessarily hinder business operations for apartment providers.
Tax
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.
Section 8 Rental Assistance
Modernize the program to remove obstacles to participation by apartment providers and expand affordable housing options for low-and moderate-income Americans.
Accessibility
Seek protections from costly, frivolous ADA and Fair Housing design and construction lawsuits.
Construction and Development
Establish federal incentives for local governments to eliminate barriers to greater new apartment development through infrastructure investment and financial rewards.
Music Licensing
Clarify and streamline federal music licensing requirements for apartment providers.
Significant Policy Issues
Construction & Development
Finance & Capital Markets
Risk Management
Housing Policy
Labor & Employment
Immigration
Energy Policy
Operations
Military Housing
