#ICYMI 2021 Owners & Officers Luncheon

2021 Owners and Officers Luncheon

This year's Luncheon was engaging, insightful, and thought-provoking. From housing market stats to political power dynamics, industry fan-favorite, Luke Wickham, and government affairs guru, Lee Steinhauer came to inform. If you missed this year's event, check out some of the fun facts and key takeaways below. 

Luke Wickham

Senior Managing Director of Investments, Instituional Property Advisors

Key Takeaways

In the aftermath (arguably current-math) of the pandemic, for the industry, things are looking up. A year ago we were playing defense and now we are playing offense. If you do not want to take Mr. Wickham's word for it, numbers do not lie. Check out some of the stats below.

• According to RealPage, rents are up 6.7%. However, if you look at the weekly average on CoStar, rent growth is sitting at nearly 12% (as of 08/10/2021).
• Across the region in markets and submarkets alike, occupancy sits above 90%.
• Throughout Florida, in-migration continues to increase.

Moderately Fun Facts

• Tampa is the hottest market in the state right now.

Lee Steinhauer

Government Affairs & Legal Counsel, AAGO | GOBA

Key Takeaways

Explaining memes is not Steinhauer's strong suit. (we're kidding!) Although evolving, scrutiny is not new to the industry. As we see more challenging lawmakers take office, it has become increasingly difficult to engage in some local issues. Over the course of the pandemic, the industry has faced a number of challenges, such as opposing a rent freeze referendum and having to learn how to navigate a patchwork of varying emergency rental assistance programs. 

Where We Are Now: The Issues

Impact Fees, Impact Fees, and more Impact Fees

• Local governments have increasingly looked at impact fees as an opportunity for revenue growth. However, the passage of HB 337 makes increasing impact fees and the frequency thereof a bit more difficult (kind of).

Environmental Sustainability

• EV Infrastructure Requirements
• Rights of Nature

Tenants Rights | Source of Income

• A growing trend, a handful of counties and municipalities in the state have passed anti-discrimination, source of income ordinances. Essentially, these ordinances make source of income a protected class and in most circumstances mandate participation in a voluntary federal program. 

Looking forward

Although a flourishing industry, uphill battles- rules, regulations, and otherwise can and will persist making advocacy efforts that much more important. 

Watch the full recap of this year's Owners & Officers Luncheon, below.