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
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.
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 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.
Clarify and update fair housing compliance requirements related to occupancy standards, emotional support animals and other areas of fair housing law and regulation.
Preserve necessary resident screening tools and ensure that consumer reporting reforms do not unnecessarily hinder business operations for apartment providers.
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
Labor & Employment