Four associations who serve the rental housing industry, with funding from Yardi Systems (Yardi), are partnering to develop a comprehensive strategy to ensure the long-term success of the industry, both amid the COVID-19 pandemic and as the nation’s economy begins to recover. The Institute of Real Estate Management (IREM), National Apartment Association (NAA), National Multifamily Housing Council (NMHC) and National Association of Residential Property Managers (NARPM) are combining their collective resources in this effort.
“Yardi is pleased to contribute $1M to help the rental housing industry recover from the hardship caused by the COVID-19 pandemic and its economic fallout. With nearly 40 million Americans living in apartments, the rental housing industry plays a critical role in housing them safely and securely. We are delighted that the four major associations who serve the rental housing industry—NAA, NMHC, IREM, NARPM—will share knowledge, develop industry benchmarks, research new ways of operating and provide forward-thinking solutions for the benefit of residents, owners and the rental housing industry,” said Anant Yardi, president and founder of Yardi.
“IREM fully supports the efforts of Yardi and our industry association partners to position residential real estate for long-term growth,” says Denise Froemming, IREM CEO and executive vice president. “Developing shared resources and working toward common goals will help all of us navigate the legislative, operational and economic issues we currently face. Collectively, we can inspire more meaningful action, leading to favorable outcomes for our members and the industry as a whole.”
Robert Pinnegar, president and CEO of the National Apartment Association, said, “NAA welcomes this initiative and looks forward to partnering with our colleagues to develop valuable solutions to property management issues—some of which the industry faced prior to the COVID-19 crisis but many of which were exacerbated by the pandemic. Expanding our regulatory and legislative footprint in state and local governments so they understand the needs of the industry will be one key to success.”
“NMHC is proud to once again partner with Yardi and our allied associations in the mission of jump starting the multifamily industry in the short term as we continue the recovery from COVID-19, and developing a disciplined, sustainable path to ongoing success,” said Doug Bibby, NMHC president. “The pandemic has posed unparalleled challenges to our residents, colleagues and firms. But we now have a singular opportunity to work together in pursuit of long-term prosperity. This collaboration is an important step to that shared goal.”
Gail Phillips, CAE, CEO of the National Association of Residential Property Managers, stated, “NARPM® is delighted to be part of this Yardi initiative. The pandemic has forced the industry to go through many changes in both business functions and advocating on pressures legislatively. The partnership of these four individual organizations will ensure that all areas in the rental housing arena are addressed through the sharing of our respective knowledge and advocacy efforts. This action will give strength in educating the entire industry.”
Any industry groups who would like to contribute to this effort should contact NAA’s Robert Pinnegar.