Clear Communication Important for Property Managers in 2022

In a manner, 2021 stands as a mirrored image of the general pandemic disaster, with its challenges and its successes, its setbacks and advances. And definitely, property managers have been using the waves of turmoil and progress within the title of their purchasers, residents and tenants. As my time period as IREM President winds down, I can replicate with satisfaction on the best way the trade rose–and continues to rise–to these challenges, forging a path into the post-pandemic regular for all of our constituents.

There’s no denying that the property administration trade stood on the entrance strains of one of many important problems with the disaster–the supply of unpolluted and wholesome locations to dwell and work. The trade response, marked primarily by a re-evaluation and enhancement of protocols already in place, was clear, swift and communicated properly.

We are able to’t underestimate this final level: clear communication to all constituents stays important, particularly within the midst of fixing directives from native, state and federal businesses. Certainly, as new variant strains of the virus proceed to rear their heads, we stay vigilant to ongoing adjustments in resident and tenant wants and the often-shifting mandates of these governmental authorities.

Over the previous 18-plus months, our partnerships with our stakeholders had been solid within the furnace of the financial slowdown and the specter of rental non-payment. Property managers throughout the nation–certainly, throughout the globe–needed to steadiness blanket eviction moratoriums with the person wants of their occupants, usually strolling a precarious tightrope between the monetary calls for of possession and customizing personalised cost deferrals.

After all, we introduced these issues to our elected officers. In the midst of the 12 months, we performed over 100 conferences with legislators and different officers to debate points necessary to the property administration trade, and we have now labored with greater than 400 trade organizations, reminiscent of NAR, NAA, NMHC, and BOMA to amplify our voices and impact change.

On the legislative entrance, IREM and its associate associations banded collectively to lend our insights to terminate the federal eviction moratorium, which led to August. These discussions proceed with a handful of states which have some type of moratorium nonetheless in place.

As Senior Director of Authorities Affairs Ted Thurn stories, we’ve been capable of work with the Administration and Congress to expedite funds for the Emergency Rental Help Program. That effort continues as we work with each entities to interrupt down boundaries in ERAP that unnecessarily complicate the distribution of funds to struggling renters and housing suppliers.

Going past COVID, we lent our mixed voices to the difficulty of limits on 1031 like-kind exchanges and had been rewarded with its final exclusion from the lately handed Home model of the Construct Again Higher invoice, together with capital features tax will increase, taxes on unrealized capital features, elevated property taxes, and carried-interest provisions. The proposal has now been despatched over to the Senate for consideration.

We’re notably happy with our March Advocacy Influence Day. Greater than 200 IREM members attended this digital occasion to study points affecting the actual property trade, reminiscent of COVID-19 reduction, the SAFE Banking Act and 1031s. And in July, our digital Congressional Briefing introduced collectively greater than 400 IREM members and 58 Congressional places of work.

In January, I’ll formally hand the gavel to my colleague Barry Blanton, CPM. However the work continues. Challenges stay, reminiscent of a COVID-driven expertise scarcity, the continuing risk of latest variants and points surrounding how hybrid work insurance policies will have an effect on each the house and the workplace.

IREM’s advocacy management will proceed as a prime precedence for our members, their companies and their purchasers. The IREM Authorities Affairs group has a lot of initiatives deliberate for 2022, together with our subsequent Advocacy Influence Day, Congressional Briefing, quarterly webinars and in-district conferences. And with stable communication all the time in thoughts, we’ll additionally maintain offering members useful assets reminiscent of our Public Coverage Priorities, Coverage Statements, Authorities Affairs Digest, and Advocacy Motion Middle.

Management might change. The vigilance that has been an IREM keystone since properly earlier than the pandemic started. 

Chip Watts is 2021 president of IREM. As well as, he serves as president and govt CPM for Watts Realty Co. Inc. in Birmingham, Ala.