With U.S. Rental Demand Rising and Supply Limited, Apartment Industry Sets 2015 Congressional Priorities

The National Multifamily Housing Council and the National Apartment Association issued a joint news release today, listing priorities for Congressional action in 2015.

“For the fourth time in the past five years, 2014 saw an increase of more than 1 million new renters. Additionally, over the past decade, 8 million rental households were created, which is the highest number on record,” said NAA President and CEO Douglas S. Culkin, CAE.  “The surge in apartment demand has outstripped supply. As a result, we need to be building an estimated 300,000 to 400,000 new apartments a year to meet expected demand.”

• Housing Finance Reform: Ensure housing finance reform proposals include a federal guarantee and recognize the unique characteristics of the multifamily industry.
• Tax Reform: Support tax reform that promotes economic growth and investment in rental housing without unfairly burdening apartment owners and renters relative to other asset classes.
• Immigration Reform: Seek immigration reform that improves temporary worker visa programs and prevents apartment firms from being required to enforce immigration laws.
• Energy Policy: Ensure that national energy policy limits reliance on inflexible codes and mandates, and supports new research and incentive-based strategies, as well as trusted energy and building technology programs.
• Data Security: Advance sensible privacy and data security policies.
• Telecommunications: Protect apartment owner and resident interests as policymakers consider in-building and outdoor coverage and capacity issues.