The First 100 Days

NAA amplifies industry’s voice, delivers victories in the first 100 days of the new administration.

By Greg Brown, Nicole Upano and Owen Caine |

3 minute read

Nearly 100 days into a new presidential administration as well as a new Congress in Washington, NAA’s advocacy – bolstered by the support and engagement of members nationwide – is delivering results and standing strong for the rental housing industry. 

While supply shortages have eased in some markets nationwide, permits and new multifamily starts have drastically dropped – and the nation could face sharper housing shortages again as soon as next year. Further, elevated demand and increased costs - for everything from insurance to taxes, to labor and materials - continue to place upward pressure on rents and strain the wallets of housing providers and our residents alike. With housing affordability at the forefront, NAA’s core priorities remain to: 

  1. Bolster the nation’s housing supply 
  2. Lower costs 
  3. Protect the long-term viability of rental housing 
     

Read NAA’s 2025 Policy Priorities

Strong Foundation in Congress

Within just four short months, NAA’s advocacy secured the critical reintroduction of important housing bills and set the foundation for effective tax policies that bolster housing affordability and protect the long-term viability of rental housing. 

Comprehensive tax legislation is undoubtedly the key focus on Capitol Hill this year, and rental housing professionals introduced the industry’s core priorities at this year’s Advocate, NAA’s annual advocacy conference and Lobby Day. 

The event convened more than 800 attendees from across the country - including 224 first-time attendees – for an impressive 270+ meetings with members of Congress in one single day. Attendees introduced three main asks on tax policy: 

  1. Preserve the 20% qualified business income deduction, which would ultimately boost long-term housing affordability for America’s more than 40 million renters;   
  2. Enact expansions to the Low-Income Housing Tax Credit (LIHTC), broadening a longstanding and successful national public-private partnership to increase affordable housing options for those most in need; and   
  3. Protect business’s ability to claim state and local tax (SALT) deductions for property taxes, which avoids artificially raising property taxes by nearly 40%, ultimately saving jobs and promoting housing affordability. 

Read More About Industry Tax Priorities

Building on progress since the COVID-19 pandemic, industry advocates also urged members to cosponsor the Respect State Housing Laws Act. This legislation strikes the temporary, federal notice language from the CARES Act, eliminating any ambiguity about the requirement’s expiration in 2020. Industry professionals at Advocate secured an impressive 10 new cosponsors to the Respect State Housing Laws Act, including 2 in the Senate and 8 in the House – including one additional Democrat.  

Read More About NAA’s CARES Act Advocacy

NAA also continues to work alongside lawmakers in both chambers of Congress and in both parties on sustainable housing policy solutions.

  • NAA spearheaded the reintroduction the Choice in Affordable Housing Act which provides critical reforms to the U.S. Department of Housing and Urban Development’s (HUD) underfunded and overregulated Section 8 Housing Choice Voucher program. Read more. 

  • NAA and its affiliate partners also provided substantive input to U.S. House Financial Services Committee, Housing and Insurance Subcommittee, Chairman Mike Flood (R-Neb.)  and Ranking Member Emanuel Cleaver (D-Mo.) as they seek input on two important federal programs that fund states’ affordable housing and community development goals: The Department of Housing and Urban Development’s (HUD) Home Investment Partnership Program (HOME) and the Community Development Block Grant (CDBG) programs.

Focus on Deregulation 

Since January, NAA – alongside real estate industry coalition partners – has secured critical regulatory wins for the rental housing industry, many in response to a letter sent by NAA and the National Multifamily Housing Council (NHMC) to the White House in March. The letter requested a thorough review of 32 federal programs, rules and regulations at 10 different agencies – the ultimate goal: To increase housing supply, lower costs and improve housing affordability. Key wins to date include: 

The Federal Housing Finance Agency (FHFA)  rescinded its directive imposing three new federally mandated landlord-tenant requirements on covered multifamily housing financed through Fannie Mae and Freddie Mac (the Enterprises) which would have required changes to millions of leases. 

Deeper Dive 

In March, HUD Secretary Scott Turner and U.S. Department of the Interior (DOI) Secretary Doug Burgum announced the Joint Task Force on Federal Land for Housing. The Task Force aims to find federal land vacancies that can be used for new affordable housing units, assisting with land transfer operations, streamlining regulations and increasing awareness for the urgent need for more housing. 

Read More

HUD terminated the Affirmatively Furthering Fair Housing Rule. In December – under the Biden Administration – the Agency also rescinded a proposed rule on criminal screening. Under the Trump Administration, the Agency has removed many guidance documents and notices related to rental housing. NAA continues to monitor closely for rulemakings to be formally withdrawn and removed from the Federal Register. 

The Beneficial Ownership Information (BOI) pause on reporting enforcement for U.S. companies has been made permanent with FinCEN’s issuance of an interim final rule taking effect on March 26, 2025. The interim final rule  dramatically reduces  the rule’s scope of what BOI is subject to disclosure. 

The U.S. Environmental Protection Agency (EPA) announced that it will work with the U.S. Army Corps of Engineers (Army Corps) to review the definition of “Waters of the United States” (WOTUS) to align it with the Supreme Court’s finding in Sackett v. Environmental Protection Agency. An appropriately scoped revision to the WOTUS definition would provide much needed clarity and regulatory relief for developers across the country as they work to meet the nation’s rental housing needs.

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Federal Communications Commission (FCC) Chair Brendan Carr withdrew a Biden-era proposal from circulation that would have banned broadband bulk billing arrangements between property owners and internet service providers, including jeopardizing existing contracts. The Commission’s move ensures that residents can continue to benefit from economies of scale, decreased costs and increased access to high quality internet services in rental communities.

Deeper Dive 

President Trump has issued an executive order eliminating disparate impact liability as the industry knows it, ordering agency heads such as HUD Secretary Scott Turner to report about all applicable regulations, guidance, rules or orders, and take steps for their amendment or repeal. NAA and its members are committed to equal housing opportunity for all without regard to race, religion, color, sex, national origin, familial status or disability. However, NAA has maintained for years that more clarity is needed on the applicability of disparate impact liability, as it could be used to undermine housing providers' community policies and practices which serve legitimate, nondiscriminatory interests.

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The U.S. Department of Energy (DOE) announced actions to postpone mandated efficiency standards for home appliances, including air conditioners, washers and dryers and water heaters.

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DOE delayed the effective date for a new, final rule that changes the energy conservation standards for gas-fired instantaneous water heaters. Implementation is delayed until May 20, 2025.

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HUD has further delayed its HOME Investment Partnerships Program: Updates & Streamlining Final Rule, which imposed ten, new federally mandated landlord-tenant requirements for covered housing. Leases would have to include the HOME tenancy addendum which lays out new rights and responsibilities, such as significant "good cause" limitations on terminations of tenancy, anti-retaliation protections and the right to organize for tenants in covered housing. The tenancy addendum allows tenants to organize, create tenant associations, convene meetings, distribute literature and post information. The new effective date is October 30, 2025.

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The Federal Trade Commission (FTC) removed 300 blog postings from its website, including business guidance by blog which made it difficult for the rental housing industry to understand changes to their federal compliance responsibilities. Blog entries, such as “Price fixing by algorithm is still price fixing” and “Becoming a gold star property manager: Lessons from the FTC’s case against Greystar,” circumvented the established rulemaking process under the Administrative Procedure Act to ensure opportunities for public comment as FTC imposed new standards. Using its blog, the FTC has reinterpreted or expanded its authority under existing laws. 
 
Under the Biden Administration, the FTC also notably excluded the rental housing industry from a final rule on so-called “junk fees.”

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NAA is grateful for the Trump Administration's attention to these regulatory challenges. Without their swift action, federal overregulation of the rental housing industry would continue to impact the cost and availability of affordable housing for millions of Americans.  Read more. 

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