As the Trump administration continues to prioritize regulatory reform, NMHC and NAA are working closely with administration officials on a number of key regulatory issues such as Davis Bacon, disparate impact, emotional support animal, Section 8 and Affirmatively Furthering Fair Housing (AFFH) reform.
Apartment firms are burdened by duplicative and compliance-heavy regulations that slow or prevent development of housing that is affordable; challenge business practices designed to ensure safe and decent housing for residents; and decrease access to capital. In fact, a recent study by NMHC and the National Association of Home Builders (NAHB), based on responses from a variety of multifamily developers throughout the country, found that on average 32 percent of multifamily development costs are attributable to the costs associated with complying with local, state and federal regulations.
As the multifamily sector is under increasing pressure to meet growing demand across the country, federal, state and local governments must reduce barriers to developing more rental housing and leverage the strength of the private sector to both produce new housing and preserve existing apartments. While many regulatory hurdles and costs, such as impact fees, continual environmental reviews and antiquated zoning processes, are within the purview of state and local policymakers, there are a wide array of existing federal regulations that contribute to making housing less economically feasible to develop.
More information on NMHC/NAA’s efforts on regulatory reform can be found here.
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