Advocating for the real estate industry, and especially for real estate managers, has always been among IREM’s highest priorities, because a thriving real estate community leads to thriving communities. However, guiding public policy to favorable outcomes for our industry doesn’t just happen. It takes a concerted effort on the part of IREM’s leaders, members, and our coalition partners to be heard. It’s the power of the strength in numbers that amplifies our voice.
On January 12, 2022, IREM’s Government Affairs team led a webinar to review the progress made in public policy efforts last year, and the team’s 2022 outlook. Here’s a snapshot of that discussion.
Why advocacy?
Our local and federal legislators don’t always understand how certain public policy issues can negatively affect the health of our community. Nor should they be expected to be fully aware of all these issues. It’s an intricate web that weaves the real estate markets to jobs to taxes to the future and a lot more. As real estate management experts, IREM members can untangle that knot by educating key legislators to help ensure they are well informed before making public policy decisions.
A look back at 2021
2021 was a massive year for real estate legislation. The eviction moratorium lifted, but was extended in several states. We experienced the American Rescue Plan Act of 2021, designed to provide support for renters and landlords, and the Biden administration’s infrastructure bill. All these measures have had a profound impact on the real estate community. IREM’s Advocacy team, led by Ted Thurn, has worked hard to explain, engage, and compel our members to take action - our members are the most important tool in our advocacy toolbox.
Education
Educating our members is critical to the success of IREM’s advocacy. To bring our members up-to-speed on the issues that impact them the most, last year IREM’s Government Affairs team made 15 presentations at IREM chapters all across the U.S., and hosted more than 10 webinars and podcasts on public policy in real estate. Topics extended beyond the COVID-motivated legislative issues to the latest in cannabis regulations, ADA requirements, and affordable housing.
Meeting with legislators
The heart of all advocacy efforts are the meetings with legislators. While we’ve worked through virtual meetings, speaking with our legislators in person makes a bigger impact – long and short term. And it’s important to keep it going. If our members are fortunate enough to land a face-to-face with a key lawmaker, it’s equally important to maintain the dialogue with diligent follow-through. Last year IREM members interacted with legislators more than 100 times, deepening the connection of real estate management to Capitol Hill.
Coalition partnerships
As a leader in real estate management, IREM members pack a punch when it comes time to address the public policies that make a difference in the lives of so many. When we join our coalition partners, our strength is immeasurable. Uniting with organizations from the NAR to the NAA, NMHC, BOMA, CCIM and many more broadens our reach and underscores our message. Last year IREM partnered with more than 400 industry organizations to effect change that supports the many facets of the real estate community. And in 2022, we plan to dig deeper.
2022 public policy priorities
The date change doesn’t mean what was started last year has been wrapped up. We’ve made a lot of progress in key areas, including deciphering and executing the provisions of the Emergency Rental Assistance Program (ERAP), part of the American Rescue Plan Act of 2021. The real estate industry has emerged from the grip of the CDC eviction moratorium. And the Biden infrastructure bill did not include the elements most damaging to our community, including 1031 like-kind exchange limits, a tax on unrealized capital gains and a step-up in basis. Whew! Dodged that bullet.
This year the IREM Government Affairs team will keep an eye on the loose ends from last year while addressing:
- The 2022 elections
- The Americans with Disabilities Act
- Assistance animals
- Data security
- Affordable housing
- Pandemic preparation and response
These are just some of the issues we intend to focus on. And we don’t really know what surprises this year may bring. Public policy continues to loom large for our members. As a critical driver of the global economy, our efforts to lead and guide public policy to real estate-friendly outcomes remain strong, and among the highest priorities for IREM.