Government Affairs Digest - February 2024

News from HQ

IREM is in D.C. for Advocacy Impact Day + ESG Summit

Over 100 members are attending IREM’s Advocacy Impact Day + ESG Summit on February 27 and 28. During our first-ever full-day of programming, attendees will learn about the sustainability challenges facing the industry and how to advocate for the future of real estate.

The next day, members will go to the Hill and meet with their federal legislators to discuss important issues affecting the property management industry, such as:

Choice in Affordable Housing Act (H.R.4606/S.32)
The Choice in Affordable Housing Act would provide $500 million to create a Housing Partnership Fund. The funds would be distributed to Public Housing Agencies (PHAs) to offer a signing bonus to a landlord with a unit in an area with less than 20% poverty; and to provide security deposit assistance, so that tenants can better afford to meet required deposits and landlords are assured greater protection against damages.

Respect State Housing Laws Act (H.R.802/S.3755)
The Respect State Housing Laws Act (H.R.802) would eliminate a provision that requires a 30-day notice period before a property manager may begin eviction proceedings against a tenant in federally assisted or federally backed housing.

Sustainability
IREM strongly believes members and their businesses should make sustainable management practices a priority. As sustainable property management continues to evolve, property managers will need to consider many factors when creating a sustainability strategy.

Review the Fact Sheets members provided legislators on these important issues.

IREM testifies before House Financial Services Committee

Ralph Amicucci, CPM^®, Esq., and IREM Instructor, testified before the House Financial Services Committee, Subcommittee on Housing and Insurance on February 22 addressing “Restoring Prosperity in American Communities: Examining the Failures of Status Quo Housing Policy.”

Part of Mr. Amicucci’s testimony addressed how hard-working Americans are unable to rent or buy homes due to increased housing costs. He also stated how the rising costs are driven by a lack of supply created by barriers to development, and to burdensome laws currently in existence, that increasingly make it extremely challenging, if not impossible, to build housing at almost any price point—particularly a price affordable to low- and middle-class families.

View Mr. Amicucci's testimony here.

Recent Real Estate Coalition Letters

IREM, along with other real estate organizations, has signed on to several coalition letters on various industry initiatives including:

2/12/24 - Real Estate Coalition Letter to HFSC on HR 802/S.3755

The coalition wrote to members of the House Financial Services Committee (HFSC) urging them to pass the Respect State Housing Laws Act out of committee.

2/7/24 - FTC Coalition Letter on Necessary Rental House Fees

In response to the Federal Trade Commission’s (“FTC”) Notice of Proposed Rulemaking and Request for Public Comment for the Proposed Trade Regulation Rule on Unfair or Deceptive Fees or “junk fees”, the coalition advises the FTC to refrain from imposing the onerous obligations proposed in the NPRM upon private rental housing providers and instead focus on leveraging federal resources to bolster new affordable housing.

1/29/24 - HUD Rule on 30-Day Notification Coalition Letter

In response to the Department of Housing and Urban Development’s (“HUD”) Proposed Rule for the 30-day Notification Requirement Prior to Termination of Lease for Nonpayment of Rent, the coalition urges HUD to focus on solutions that will help tenants at risk for eviction. This proposed rule will disincentivize participation in HUD programs, ultimately resulting in more housing scarcity and higher rents.

IREM's bill tracking

Our objective is to empower our members, which is why IREM tracks federal and state legislative proposals that could affect the property management industry.

Please check out the list of bills we are currently tracking during the 2024 legislative season.

Bill Tracking