IREM’s 2024 advocacy update

In today’s dynamic political landscape, advocacy remains a vital tool for our members, their businesses, and their clients. IREM is at the forefront of driving meaningful change, amplifying our voices, building alliances, shaping policies, fostering accountability, and embracing innovation.

Although legislation that would benefit the entire industry has been proposed in Congress, such as the Choice in Affordable Housing Act and the Respect State Housing Laws Act, there have also been proposals at the federal and state levels that would undermine the goals of fostering a healthy and equitable housing market, increasing supply, and creating successful communities. 

This article looks at the federal and state issues affecting property managers and owners and provides an overview of the IREM team’s implemented initiatives, such as Advocacy Impact Day, our calls to action, and Coalition letters.  

Federal issues

IREM testifies before Financial Services Committee

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

Amicucci addressed how some hard-working Americans cannot 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 burdensome laws currently in existence. These factors increasingly make it extremely challenging, if not impossible, to build housing at almost any price point—particularly at a price affordable to low- and middle-class families.

View Mr. Amicucci’s testimony here.

Congressional hearing on commercial real estate 

On April 30, the House Oversight Subcommittee on Health Care and Financial Services held a hearing, “Health of the Commercial Real Estate Markets and Removing Regulatory Hurdles to Ensure Continued Strength.”

IREM, the National Association of REALTORS® (NAR), and CCIM Institute (CCIM) submitted a letter to the Committee, stating that commercial real estate suffered heavy blows during the COVID-19 pandemic, and these impacts did not go away with the lifting of COVID-related restrictions. Office occupancy remains low as many companies permanently pivoted to more liberal work-from-home policies. Businesses continue to rebuild and recover from the losses they experienced during the pandemic, and the commercial real estate industry is working to adjust to the new market realities it produced.

We asked that the country’s financial regulators and lawmakers consider prudent but flexible policies that assist this critical sector’s recovery, not arbitrary requirements that will further reduce values and leave both lenders and commercial real estate borrowers in danger. 

Letter on insurance affordability  

In June, IREM and several housing organizations submitted a letter to the Biden administration, members of Congress, and federal agencies, addressing the volatility in the property insurance market over recent years and how it hinders housing providers’ ability to deliver the housing that is so desperately needed. Rising insurance costs are one of several factors beyond the control of housing providers, driving price increases.

The letter outlined several policy solutions that would assist in alleviating the negative impacts of rising insurance rates on housing affordability, homeowners, residents, and the real estate markets nationwide, including:

• Explore the establishment of a federal backstop/guaranty.
• Adjust HUD’s operating cost adjustment factor (OCAF) methodology.
• Modernize and coordinate insurance requirements under federally backed loans.
• Expand the reach of existing federal grants and programs.
• Establish federal support for community-based insurance.

State issues

Several states introduced bills that would be destructive to the industry in 2024. For example:  

Illinois sought to lift statewide rent control preemption, but the bill stalled before being considered in the Senate and House committees of jurisdiction.

Iowa also sought to lift preemption but never received a floor vote. While a key committee recommended passage, the legislature adjourned before the bill moved further.  

The Michigan legislature introduced Senate Bill 801, which would eliminate a housing provider’s ability to screen prospective tenants properly. The bill was referred to a Committee, where it did not receive further action.

The California State Assembly is considering Senate Bill 1103, which would disrupt the commercial leasing landscape by imposing requirements detrimental to property owners, small businesses, and nonprofits. IREM sent out a Call to Action asking all our members in California to contact their Assembly Members and ask them to oppose this proposal, as it would negatively affect the property management industry.

The Rhode Island House considered several bills, which, if passed, would negatively affect the property management industry in the state. The proposals under consideration include:

• House Bill 7049 & 7372 – Rent control
• House Bill 7174 – Prohibits landlords from inquiring about an applicant’s prior incarceration and discriminating against those who have been released from prison.
• House Bill 7960 – Provides for just cause evictions for residential landlord tenancies.

All of the bills were referred to committee for further study.

Advocacy Impact Day + ESG Summit

IREM partnered with the IREM Foundation to present an expanded and elevated event titled the Advocacy Impact Day + ESG Summit. The event took place on Feb. 27 and 28 and included a full day of programming providing environmental, social, and corporate governance (ESG) education, networking opportunities, and an advocacy orientation.

During the full-day orientation, attendees also learned how to conduct successful meetings with legislators while gaining knowledge about one of the most significant issues affecting the property management industry: sustainability.

Information on the 2025 Advocacy Impact Day will be out soon.

Advocacy initiatives and resources

During the past year, the IREM Government Affairs team has been very busy advocating for our industry’s interests. Although the following does not capture all the initiatives the team has been conducting, it provides a brief overview of the actions achieved. 

• Calls to action: Using VoterVoice, an online grassroots advocacy platform, you can easily connect with your federal or state representatives to support or oppose a legislative proposal. With a few clicks, ready-made messages go directly to your representatives. Click on our Call to Action Demonstration Video to learn more about the platform.
• Coalition letters: IREM has signed onto several coalition letters with our housing organization partners, which include NAR, NAA, NMHC, and BOMA, to amplify our voices and utilize our strength in numbers. IREM frequently signs letters to Congress and other agencies advocating for issues important to real estate management.
• Podcasts and webinars: We frequently conduct live webinars and podcasts on engaging, relevant, and informative public policy issues. This content is recorded and available on-demand as an exclusive ongoing member resource.
• Policy priorities and statements: We identify our priorities by surveying IREM national and chapter leaders. The Advocacy Committee originates policy statements, which are updated as necessary. IREM and our members use these statements for guidance on legislative and regulatory issues.
• Government Affairs Digest: Our monthly e-newsletter is distributed to national/chapter leaders and subscribers. Our objective is to inform IREM members of Government Affairs activities and update them on current legislative and regulatory issues, including flood insurance, rent control, and much more.
• Tracking legislation: IREM closely monitors proposed legislation and regulations at state and federal levels.