NAA Five, for the Week Ending March 14th, 2025

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NAAHQ // March 14, 2025
NAA
 
NAA FIVE
A weekly digest of key rental housing news and takeaways
prepared exclusively for NAA’s leadership
 
The Big Picture: Additional spending cuts at the U.S. Department of Housing and Urban Development (HUD) dominated media conversations this week, specifically potential cuts to the Green and Resilient Retrofit Program. Other notable stories covered the latest in inflation and rent trends
This week’s top stories
What We're Advocating

Tax Policy: NAA recently joined associations from across the real estate and hospitality and lodging industries to strongly oppose “any proposal that would cap or eliminate the ability of a business to claim a federal tax deduction for its state and local property tax payments.” Read the letter

Deeper Dive: The latest episode of the NAA Apartmentcast features a conversation with NAA’s Owen Caine on important tax policies to preserve, enact and protect this year. Listen here

What We're Saying

WOTUS: On Wednesday, the U.S. Environmental Protection Agency (EPA) announced that it will review the current definition of “Waters of the United States.” Read more

“Regulations and their associated costs greatly impact housing development, and the National Apartment Association (NAA) applauds the EPA for taking swift action to review the current definition of “Waters of the United States,” NAA’s Nicole Upano told Multifamily Dive. “NAA looks forward to working alongside the agency to ensure the rule strikes a better balance of strong protections for our natural environment and understandable regulations for housing development.” 

Top Employers: Yesterday, NAA announced the recipients of the 2025 NAA Top Employers Awards, which recognize member organizations that foster environments of collaboration, innovation and hard work. Read more

“In an ever-changing landscape, the rental housing industry has prioritized recruitment and retention,” said NAA’s Bob Pinnegar. “This year’s recipients of the NAA Top Employers Awards have shown great leadership in ensuring valuable learning experiences and incredible workplace environments.” 

What We're Doing

Regulatory Costs: NAA’s Leah Cuffy joined the NAA Apartmentcast to discuss recent research sponsored by NAA and NMHC on the cost of regulation. Listen here and read more about the study

#NAAGives: Submissions are now open for the 2025 #NAAGives Wall, a charitable giving display for this year’s Apartmentalize. Share your photos by March 31st and amplify to your local members. 

What We're Hearing

HUD Cuts: “The Trump administration is halting a $1 billion program that helps preserve affordable housing, threatening projects that keep tens of thousands of units livable for low-income Americans… the over $1 billion Green and Resilient Retrofit Program, passed by Congress in 2022, is intended for energy-efficiency improvements.” Read more in the Associated Press.