The federal, state and local policy issues impacting the apartment industry are numerous and wide-ranging, and affect how property owners and managers provide safe, affordable housing to 37 million Americans. The myriad of issues include bed bugs, taxes and fees, building codes, tax reform and more. Overarching these complex issues is the need for Congress to create a balanced housing policy that recognizes the critical role of apartments in providing shelter for Americans.
Below are some of the policy topics NAA provides an abundance of research and support materials on. This material is offered exclusively to our members. If you are a member, make sure to sign in to access this valuable information.
The Issues Affecting You
The 2017 NAA/NMHC policy priorities document provides the framework for the apartment industry's key federal legislative and regulatory issues. They cover a wide range of topics that can impact our members' businesses and the industry at large, positively or negatively. Learn more about the issues.
Addressing the growing shortage of quality affordable housing for Americans is a top industry priority. Today regulatory barriers, limited financing, and compliance and construction costs inhibit the private sector from constructing, rehabilitating and operating apartments at rents in line with median incomes.
Business Management and Operations
Government action or inaction on issues can impact the day-to-day management of apartments by raising costs, adding liability risk and creating ambiguities. A burdensome regulatory environment can also increase expenses and acts as a disincentive to invest in affordable housing solutions.
Today, 300,000 to 400,000 new apartments are needed annually just to keep up with demand, yet that number was reached only once in the past decade. The availability of consistently reliable and competitively priced sources of financing is the most essential factor in the apartment industry's ability to meet the nation’s growing demand for rental housing.
Development and Building Codes
Building codes, industry standards and best practices ensure building safety. However, it is crucial that codes and standards balance what is technologically feasible and cost effective as well as reflect the unique needs of apartments to ensure that housing remains affordable.
Environment and Energy
Compared with other housing types, apartments are significantly more environmentally sustainable and resource efficient. To ensure this continues, policymakers must balance environmental stewardship and economic growth as well as invest in the future through sustainability incentives and technology.
Rent Regulation is a government-enforced price control policy targeting market rate rental housing. Rent regulation policies vary in degrees and aliases including rent control, rent stabilization, temporary rent control, and mandatory inclusionary zoning, to name a few.
Taxes and Fees
Policymakers are calling for reform of the nation’s overly complex tax code to foster economic competitiveness and economic growth. The apartment industry supports tax policies that promote economic growth and investment in rental housing without unfairly burdening apartment owners and renters relative to other asset classes.