An Introduction to “From the Hill”
Providing Insight and Perspective to the Real Estate Investor
By David Howard
The National Rental Home Council (NRHC) is proud to have been invited by REI INK to write a column focused on relevant policy issues and developments on a federal, state, and local level impacting the single-family rental home industry. Each month we’ll endeavor to provide insight and perspective on both the opportunities and challenges shaping the industry’s policy agenda, and we’ll attempt to do so in a way that is useful and actionable for you.
The quality of REI INK’s readership and breadth of coverage offer NRHC a compelling opportunity to share information concerning regulatory and legislative happenings affecting the course of the industry. And when I say affecting the course of the industry, what I mean is the decision-making impacting your business and your investment.
Single-family rental homes play a critical role in the U.S. housing market, accounting for 40% of all the rental housing in the country. Housing touches on every aspect of people’s lives and is central to creating strong communities and vibrant neighborhoods. Because housing is such a central part of lives, we believe all Americans should be supported by policies that provide access to quality housing, no matter where they are on the continuum of renting or owning. This is only possible when industry and policymakers work collaboratively to create the best mix of housing possible.
NRHC’s policy agenda is focused squarely on the effort to encourage and incentivize responsible development and investment. Specifically, our platform encompasses the following priorities:
» Addressing the housing supply crisis by investing in communities and neighborhoods to support a housing market that can meet the needs of all Americans and their families
» Enhancing the diversity of housing opportunities by creating and delivering a greater range of choice for housing consumers
» Advocating for common sense regulation governing housing development, specifically reducing NIMBYism at the local level
» Creating policy that allows builders to do what they do best — build more housing, both ‘for sale’ and ‘for rent’
» Opposing efforts to bottleneck the flow of capital and investment into local housing markets
Additionally, NRHC firmly believes in the importance of fostering public policies that support homeownership and provide Americans with the opportunity to become homeowners. But, we also recognize that homeownership may not be the right option for everyone at every point in their lives. For this reason, we encourage the development of policies that accommodate the diversity of needs facing housing consumers, policies that are meant to expand the range of options available for all Americans in the pursuit of quality housing.
The ongoing development and maturation of the single-family rental home industry is focused on providing a viable source of stabilized long-term rental housing responsive to the needs and lifestyle preferences of today’s housing consumers. To the extent that we are able to provide more housing, we are better positioned to meet those needs. We believe this to be the most effective way to alleviate current and future housing supply challenges and to address the needs of residents.
Additional oversight initiatives and regulatory barriers only serve to limit the ability of rental housing providers to do what they do best — provide more housing. Further, expanded regulatory and oversight measures are especially concerning for the individuals and small local businesses who collectively account for over 85% of the market for single-family rental homes.
Thanks again to REI INK for the opportunity to share with you news and insight on the policy issues I find most pressing for the industry. I hope you find this column to be helpful, or at least an interesting read. I am always anxious for feedback, input, and occasional criticism so be sure to email me at dhoward@rentalhomecouncil.org with any comments or thoughts you may have.
