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November 8, 2017
Industry Divided Over Home Sharing
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The debate over the role of short-term rentals in the apartment industry heated up in the past weeks as home-sharing giant Airbnb made several significant announcements and one staunch opponent sought a court order to stop the company from contracting with its residents nationwide.

Earlier this week, Airbnb announced that one of San Francisco’s largest residential landlords, Veritas Investments, is partnering with the company to allow residents in five of its buildings the option of renting out their apartments on the home-sharing platform.

At the same time, Airbnb said it is also teaming up with upstart Pillow to manage short-term rentals at apartment properties and also announced the first Airbnb-branded apartment building in Miami.

As apartment owners and managers grapple with the question of whether short-term rentals are a boon or a bane for residents, new NMHC research shows a significant divide between how older and younger renters feel about home sharing. In fact, 49 percent of renters under 25 said they were interested in home-sharing opportunities while 32 percent of renters 65+ said they would not rent in a community that permitted short-term rentals.

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ANALYSIS

The Multifamily Owner's Guide to the Republican Tax Package

House Republicans recently released tax reform legislation that would cut tax rates for individuals and businesses. Here’s a look at who is impacted by the changes, as well as other key provisions. The House Ways and Means Committee began marking up the package this week, beginning what will surely be a long and complex legislative process.

FINANCE

Banks Remain Stingy with Construction Dollars

Over the past two years, banks wary of taking on construction risk have lowered leverage, increased rates and applied more conservative underwriting.

ADVOCACY

NMHC Chairman Testifies on Housing Finance Reform

"The apartment industry is extremely capital intensive,” said NMHC Chairman Bob DeWitt before the House Financial Services Subcommittee on Housing and Insurance last week. “Therefore, it is critical that housing finance reform provide consistent access to debt capital across geographies, markets and product types if we are to meet the current and future demand for rental housing in America.

MEETINGS

Highlights from the 2017 NMHC OPTECH Conference & Expo.

More than 1,700 apartment execs and tech partners came together for this year’s OPTECH in Las Vegas. Catch up on all the buzz with our meeting recap.

RESEARCH

What 272K Renters Said Would Stop Them from Signing a Lease

The 2017 NMHC/Kingsley Associates Renter Preferences Report is here—and there’s never been data like this. The report features responses from 272,000+ renters in 80 markets on their favorite unit features and community amenities, pricing expectations, deal breakers and more. Check out this infographic for the highlights—or click here to order.

PARTNERSHIPS

NMHC Selects Shelters to Shutters as Charity of Choice for 2018

For the second year, NMHC’s designated beneficiary charity is Shelters to Shutters, a non-profit that transitions people from homelessness to economic self-sufficiency by partnering with apartment management companies. In honor of NMHC’s 40th anniversary, the partners are also launching a “40 for 40” campaign to sign up 40 new multifamily partners to the S2S program. 
In Case You Missed It
A hand-selected collection of noteworthy articles on a wide variety of issues of interest to apartment executives.
IRS E-Filing Deadline for People in Disaster Areas Closes Nov. 18

More People Think Renting Is a Better Deal Than Buying (feat. NMHC’s Rick Haughey) (paywall)

7 Regulatory Roll Backs You Might Have Missed

America’s Affordable Housing Stock Dropped 60% from 2010 to 2016

Enviros and Developers: A YIMBY Love Story

NMHC/NAA Host Housing Policy Forum to Discuss How to Solve the Affordability Crisis

Freddie Mac: For Many Renting Is a Strategic Choice

What Life Is Like Inside WeWork’s Communal Housing Project

How Long Will Houston's Multifamily Post-Harvey Bounce Last?

NMHC, NAA Urge “Consistent Access” to Debt

Mobile Apps Help Overcome Labor Quality Worries

Are Incentives the Key to Solving the Affordable Housing Crisis?

Why the Commercial Real Estate Industry Is Still Hesitant to Share Data

Defend Against Applicant Identity Fraud with Identity Verification
Multifamily Market Dashboard

A Broke, and Broken, Flood Insurance Program

Given federal requirements to purchase insurance with only a month remaining before the latest extension on the National Flood Insurance Program expires on Dec. 8, Congress must quickly act on reauthorization legislation. The program, virtually the only available option for flood damage protection for property owners, including multifamily owners, is both broke and broken.

The program has been in the red since Hurricane Katrina flooded New Orleans in 2005, underscoring a serious need for key fundamental reforms to keep the much-needed program afloat.

NMHC/NAA have long supported programmatic reforms and continue to work with members of Congress to advance legislative measures that will ensure affordable flood insurance is available to multifamily property owners. (Read our latest NFIP article here.) We expect that Congress could move on a reauthorization package as soon as this week. For more information on NFIP, click here


Upcoming Meetings

November 9, 2017, Whiskey Blue, Atlanta, GA

2018 NMHC Apartment Strategies Outlook Conference

January 16, 2018, Hilton Orlando Bonnet Creek/Waldorf Astoria , Orlando, FL

January 16 - 18, 2018, Hilton Orlando Bonnet Creek/Waldorf Astoria, Orlando, FL
About Apartment Wire
A must-read for top apartment industry professionals, Apartment Wire is a timely review of emerging trends in apartment finance, development, management and technology and more, featuring both exclusive content from NMHC's staff of experts and provocative articles from across the web.
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