In the wake of the COVID-19 outbreak, NMHC’s government affairs team has been working tirelessly to make the case to Congress for critically needed relief for the rental industry, housing professionals and our residents. Learn about NMHC COVID-19 advocacy efforts >>>
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
Housing Affordability
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.
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. These counterproductive regulations prevent the apartment industry from meeting the demand for housing.
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
Continue to clarify federal policy on emotional support animals, disparate impact, accessibility and other areas of fair housing law and regulation.
Data Security & Privacy
Enact a federal data privacy, security and breach notification standard that pre-empts the emerging patchwork of state laws that leave consumers vulnerable and impose overly burdensome compliance obligations on housing providers.
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.
Resident Screening
Preserve necessary resident screening tools and ensure that consumer reporting reforms do not make screening impracticable or hinder apartment providers from properly managing risk.
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 Housing Choice Vouchers
Revitalize the Section 8 program to enable greater participation by private housing providers and expand affordable options for low-and moderate-income Americans. Also maintain the voluntary nature of the program.
Infrastructure
Establish federal incentives for local governments to remove barriers to housing development and rehabilitation as part of any major investment in the nation’s infrastructure and support funding for unmet infrastructure needs that directly impact housing.
Significant Policy Issues
Construction & Development
Finance & Capital Markets
Housing Policy
- Violence Against Women Act (VAWA)
- Rental Assistance Demostration (RAD)
- Fair Market Rents (FMRs) & Small Area Fair Market Rents (SAFMRs)
- American Community Survey
Labor & Employment
Immigration
Energy & Enviroment
Operations
- Evictions
- Music Licensing
- U.S. Postal Reform & Package Delivery
- Short-term Rental
- Broadband & Connectivity
Military Housing
