White House’s Impact on the Rental Housing Industry

Last year, the rental housing industry was rocked with the announcement of the proposed Renters’ Bill of Rights. The White House took aim at the rental housing industry by introducing policies that add more unnecessary regulations to owners/operators. NAA’s President and CEO, Bob Pinnegar, participated in a Housing Provider Listening Session and expressed his concerns. He stated that “creating artificial confusion by overlaying a federal bill of rights over state and local laws and the leasing contract itself will drive providers from the industry and further hurt affordability and renters.”  He went onto discuss how rental housing is already regulated by every branch of government and is highly dependent on local conditions, policy priorities and the needs of the local housing market. While the White House is focused on supporting renters and their “rights”, they are neglecting the needs and struggles rental housing providers face.

As if additional regulations weren’t already a burden to the rental housing industry, the White House also been cracking down on so called hidden junk fees. The White House’s efforts come from concerns that renters find themselves surprised by hidden fees for background credit checks, paying their rent online, or trash collection. The rental housing industry strives to provide transparency, but additional amenities, services, and maintenance come at a cost. Additional fees cover the increasing expenses necessary to provide quality housing to residents.

While some residents expect these services to be free or low cost, inflation has increased the cost of nearly all apartment amenities and services. These additional fees allow for clean and safe fitness rooms, pools, and parking garages. The misconception that additional fees are going directly to the owner/operator is being driven by the White House’s lack of knowledge and support for the rental housing industry. Government overreach can stifle economic growth and potentially push management companies out of local jurisdictions.  

While it’s important for rental housing providers to be transparent, consumers must be realistic about the cost of doing business in 2024. Our society accepts inflation for food, gas, clothing and other essential goods but pushes back at acknowledging increased expenses for housing. Let’s do better than the White House about understanding and supporting the struggles for local property owners.