Hendricks Goes to the Whitehouse to Represent Landlords
Earlier this month, Hendricks Property Management went to Washington D.C., with other professional NARPM® Property Managers in tow, to meet with our Senators and House Reps in person. We discussed H.R. 802/S. 3755 regarding the CARES Act 30 Day Notice to Vacate, H.R. 4606/S.32 regarding strengthening the Housing Choice Voucher Program, and H.R. 3507/S.1688 regarding eliminating barriers that increase the cost of housing.
The CARES Act introduced numerous temporary protective measures for tenants facing unprecedented financial hardship due to the COVID-19 pandemic. One such provision is the 30-day notice landlords must provide to tenants before they can initiate eviction proceedings for non-payment of rent. H.R. 802 and S. 3755 propose making this extended notice period permanent. Although this measure aims to provide tenants with additional time to find housing or resources, it also extends the period landlords must wait before reclaiming their property. This has implications for your property's cash flow and vacancy cycles.
The Housing Choice Voucher Program is a vital component of the nation's commitment to supporting families in need of affordable housing. While the intention behind H.R. 4606 and S.32 is admirable—aimed at providing more resources and greater access to this program—it does carry ramifications for landlords and property managers. By engaging with senators and representatives, we sought to convey the real-world implications of these program changes. Our discussions focused on ensuring that increased support does not come at the expense of property owners' autonomy and financial viability.
Lastly, we turned our attention to H.R. 3507 and S.1688, which concentrate on reducing bottlenecks that drive up housing costs. Lowering these barriers could potentially make property development more accessible and profitable for real estate investors and provide more affordable housing options for consumers. We discussed the importance of prudent regulatory reform that strikes a balance between accelerating development and maintaining quality, safety, and community integrity. For you, the property owner, these measures could mean growth opportunities and a chance to contribute positively to the housing market.
Our discussions in D.C. were just the beginning. Hendricks Property Management will continue to serve as your advocate, staying at the forefront of legislative analysis so that we not only anticipate changes but adapt strategies that safeguard your interests.
It's through professional leadership that we aim to deliver on our promise of trustworthiness and problem-solving for you, our valued clients. We are committed to keeping you informed and providing guidance that navigates the complexities of federal legislation impacting the industry.