2022 Apartment Industry Policy Priorities
Rental housing is a robust, diverse industry that provides a home for one-third of the nation, supports 17.5 million jobs and generates over $3.4 trillion in economic activity. The policy challenges facing the industry, especially in the age of COVID-19, are equal in scale and scope - touching every sector of the industry from new development to property management- and encompassing firms of all shapes and sizes. As their advocates, we focus on issues that reduce operational risk and enable efficient operations, preserve housing affordability and ensure the continued viability of rental housing providers for the long-term.
For 2022, the industry's priorities reflect the near-term concerns of the housing crisis exacerbated by the COVID-19 pandemic and the broader need to maintain the health and competitiveness of the rental housing industry for the long-term we urge Congress and the Administration to:
- Support credible and proven policies to address housing affordability and stability including financial assistance for renters, while opposing approaches that undermine the effective operation and financial health of rental housing - such as rent control and eviction measures that unduly burden necessary operations.
- Maintain and expand tax policy that preserves and encourages investment in multifamily housing.
- Promote strategies that reduce barriers to new construction and rehabilitation to address housing supply shortages.
- Ensure dedicated assistance is available for renters and property owners to maintain the stability of America’s renters and the housing industry at large.
- Increase funding and improve the Section 8 Housing Choice Voucher Program to enable greater private housing provider participation and expand affordable housing options for low- and moderate-income Americans.
- Support funding for unmet infrastructure needs that directly impact housing.
- Expand operational risk coverage as it relates to cybersecurity, liability, pandemics and reauthorize and reform the National Flood Insurance Program (NFIP)
- Ensure federal fair housing policy protects equal opportunity in housing while supporting housing providers’ ability to develop, own and operate their properties without undue risk and compliance uncertainty.
- Enact a federal data privacy, security and breach notification standard that pre-empts the patchwork of state laws that leave consumers vulnerable and impose burdensome compliance obligations.
- Accelerate broadband deployment and modernization in multifamily communities across the country, protect the current facilities-based partnership model that encourages digital infrastructure expansion, and enable consumer access, affordability, and connectivity.
- Ensure the continued ability by Fannie Mae, Freddie Mac and the Federal Housing Administration to provide adequate capital financing to the apartment industry.
- Preserve necessary resident screening tools and ensure that consumer reporting reforms do not make screening impracticable or hinder apartment providers from properly managing risk.
- Pursue labor and immigration policy that ensures an adequate workforce supply for the multifamily industry.
- Pursue innovative, cost-effective energy efficiency strategies that incentivize sustainable and resilient communities.
Significant Policy Issues
Construction & Development
Finance & Capital Markets
- HUD Multifamily Programs
- Community Reinvestment Act
- Foreign Investment in Real Property Tax Act (FIRPTA)
- Corporate Transparency Act
Housing Policy
Operations
Immigration
Energy & Enviroment
- Energy Efficiency
- Indoor Environmental Quality
- Resiliency
Labor & Employment
- Davis-Bacon Wages
- Employer/Employee Relations
- Workforce Development
Tax Policy
- Carried Interest
- Estate Tax
- Taxation of Unrealized Cap Gains at Death (Stepped Up Basis)
- Low-Income and Middle-Income Housing Tax Credits (LIHTC/MIHTC)
- Opportunity Zones
Staff Resource
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NMHC Advocacy Overview
NMHC’s 1,700+ members develop, own, operate and finance a wide variety of apartment homes—from suburban garden-style apartments to more urban mid- and high-rise apartment homes—for Americans across the income spectrum.
Cost of Regulations
Regulations Account for 40.6% of Multifamily Development Cost, Driving Up Housing Costs and Worsening Affordability