The multifamily industry has found itself increasingly embroiled in legal disputes and legislative scrutiny.
After a dramatic decline during the pandemic, multifamily-related legal proceedings have surged, with over 100,000 cases already filed this year, led by states like Florida and Georgia.
“The industry is not feeling the love,” said Ayiesha Beverly, general counsel for the National Apartment Association (NAA).
And politicians are also busy working on new legislation affecting the sector. On a federal level, the NAA has identified three pivotal bills:
- S. 3755/H.R. 802, "The Respect State Housing Laws Act,” which would repeal the 30-day notice requirement under the CARES Act
- S. 1688/H.R. 3507, "The Yes In My Back Yard Act," meant to remove local barriers to housing development
- S. 32/HR. 4606, “The Choice in Affordable Housing Act,” which would reform the Section 8 program to encourage landlord participation
Additionally, the Federal Trade Commission proposed a rule banning "junk fees," while HUD plans to impose a 10% annual cap on rent increases in certain subsidized housing properties.
There were also 74 state-level bills related to rent control filed in the first quarter of 2024 alone.
Multifamily property managers face the formidable task of navigating a rapidly evolving regulatory environment. Staying vigilant and informed, and consulting legal experts as needed, will be crucial to maintaining compliance and operational efficiency.
PayProp users can rest assured their rental payment platform will be at the forefront of any legislative changes to multifamily law. Our team of property and tech experts diligently monitors industry news and promptly updates the platform to reflect the latest legal requirements.
More housing policy headlines
Does new Renters Bill of Rights endorse national rent control? – PayProp blog
Do landlords have to provide AC? – The Washington Post
Regulators take aim at internet bundles for multifamily properties – Propmodo
