There are many types of investments, even within real estate. Multi-family real estate investors have added benefits from the opportunities provided to them by the National Apartment Association.
What is the National Apartment Association?
The National Apartment Association is the leading voice for the rental housing industry. Their mission is to serve as a trusted, preeminent resource for all stakeholders in the rental housing industry through advocacy, education and collaboration.
National Apartment Association’s Strategic Initiatives:
Help operators manage their businesses more efficiently and effectively
Establish a unified network to serve stakeholders
Create a viable industry marketplace
Raise influence with those who affect the rental housing industry
Optimize volunteer and staff resources
Create outstanding stakeholder experiences
“We lead the way home.” National Apartment Association
The National Apartment Association has national, state, and local levels of involvement. Trey Stone of Value Play L.L.C. served as the 2014 President of the Houston Apartment Association and firmly believes in the power of this network. He is an advocate for getting involved with the apartment association at any level.
Industry Support and Advocacy
There are many benefits of being involved with an association like this from educational opportunities to access to networking. The biggest benefit for Trey Stone is the advocacy and support it provides.
The National Apartment Association has a huge lobby for the rental housing industry. Real estate investors in this industry have access to this network and its resources, which sets them apart from other industries who don’t have this community to address local, state, and national politicians.
Support in a Crisis
One example of this support became clear during the pandemic. At first, the apartment industry workers were not deemed “essential.” Like many real estate investors, Trey grew concerned because he knows the importance of onsite managers and maintenance workers. Residents need these workers for their own safety and to maintain essential utilities like refrigeration for important medicine. He called their local representative from the National Apartment Association, David Mintz. Right when he reached out to David, Trey realized he had just received an email addressing this issue. David and the other advocates from the Texas Apartment Association had already reached out to the local government and received updated information and exceptions for teams like Trey’s. This information was so important during this crisis because he was able to email it out to his employees so they could go to work confidently, knowing they had this documentation to support their reason for being onsite during the pandemic.
An ongoing example of this support is the National Apartment Association’s involvement with legislation. They have access to local, state, and national lawmakers. Trey recalls being inspired by the delegation who would visit the state capital or the nation’s capital to sit down with senators, congressmen, and White House officials and discuss how certain policies or proposed bills would impact the apartment industry. These industry leaders had the opportunity to break it down for the legislators so they could understand the impacts of the proposed laws.
Most of the time, the association delegates visited the capitals in an attempt to prevent problematic legislation. Their presence and involvement is crucial because the people writing the bills don’t always understand the ramifications of them. The ability to loop in industry professionals really makes a difference for the entire apartment industry.
For example, their involvement can prevent redundant legislation. Sometimes laws are proposed because of a specific instance and there is no thorough check to see if this instance had been addressed before. The association’s involvement helps prevent redundancy by having representatives from the industry there to point out that the legislation already exists. Sometimes the focus should be on enforcing laws already in place.
The association also advocates for allowing affordable housing to grow by enabling new property development. It points out any laws that contradict the mission to provide affordable housing. Delegates from the association also defend investors from hidden taxes or fraudulent fees. This professional association serves as an advocate for everyone involved in rental housing.
Other real estate groups and professional associations do not have the same type of advocacy that multi-family property investors have because of the National Apartment Association. While there are many benefits, you can see what sets this association apart from their advocacy efforts. The rental housing industry is a well organized industry compared to others largely because of the leadership of the National Apartment Association. It’s a great benefit for all multi-family property investors.