Apartment Industry Releases Letter Calling for Regulatory Reform
WASHINGTON, D.C. — Statement from the National Apartment Association (NAA) and National Multifamily Housing Council (NMHC) on the apartment industry's letter in support of the Trump administration's commitment to regulatory reform:
"At a time when the multifamily industry is facing increasing pressure to meet booming housing demand across America, an overly burdensome regulatory infrastructure is forcing financers, developers and operators to manage a myriad series of compliance hurdles and rising costs. These unnecessary challenges cost time and money, ultimately worsening the country's housing crisis by impeding the expansion of available housing.
"President Trump's recent comments during his address to a joint session of Congress and the executive orders he has already signed are encouraging signs that the administration understands the risks posed by an overly burdensome regulatory environment.
"Excessive regulation and compliance uncertainty, at all levels, results in costly mandates that divert resources from the production and operation of multifamily housing. The letter highlights federal regulations that slow development or make it impossible to develop housing that is affordable, call in to question legitimate business practices designed to ensure safe and decent housing for residents, decrease access to capital and make it difficult to transfer family owned businesses from one generation to another.
"To that end, the apartment sector stands ready to work with the Trump administration and leaders in Congress to reform inefficient or outdated regulations to encourage economic growth, spur job creation and further expand housing for all Americans."
More information about apartments is available at www.weareapartments.org.
For more than 20 years, the National Apartment Association (NAA) and the National Multifamily Housing Council (NMHC) have partnered on behalf of America's apartment industry. Drawing on the knowledge and policy expertise of staff in Washington, D.C., as well as the advocacy power of 170 NAA state and local affiliated associations, NAA and NMHC provide a single voice for developers, owners and operators of multifamily rental housing. Apartments and their 39 million residents support more than 12 million jobs and contribute $1.3 trillion to the economy.