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Why Apartments Are Vital To America

Three multifamily housing associations are promoting a new brochure, "Why Apartments are Vital to America," which presents the industry's view of why multifamily housing is valuable to communities and families in the United States. The three organizations are the National Multi Housing Council (NMHC), its affiliated American Seniors Housing Association (ASHA) and the National Apartment Association (NAA).

According to the NMHC, more than 30 million people live in apartments and "the recent public policy emphasis on homeownership has obscured the fact that many Americans prefer apartment living to traditional single-family detached housing." Along with financial constraints, motivations for choosing apartment life include access to amenities and conveniences and freedom to relocate for job or lifestyle reasons.

The industry brochure says societal and industry changes are making apartments more desirable homes for many Americans and making apartment complexes a stronger and more integral part of many local communities. For example, construction of 100 new apartment units in the average city creates 121 local jobs and provides more than $5.2 million in local taxes, fees, wages and business receipts, according to the industry groups.

The brochure also notes that modern features being incorporated in some new apartment buildings can create a sense of community, rather than merely provide shelter. Examples of these desirable (but sadly not always available) features include on-site daycare facilities, online job training, after-school programs, gardening areas and nature trails. Increasing professionalism among apartment ownership and management companies implies higher standards of operation and tenant service and greater resources to maintain and improve apartment properties, according to the brochure.

"Why Apartments are Vital to America" also claims that multifamily housing promotes balanced suburban development. Specifically, apartments conserve land, supposedly promoting open space and avoiding sprawl. Apartments also use municipal infrastructure (e.g., roads, schools) more efficiently, the brochure states.

"In many ways, the changes in the apartment industry reflect the changing demographics and the evolving needs of our population," says Jonathan L. Kempner, president of NMHC. "Apartment providers are responding to these changes with design and service innovations targeting a broad spectrum of renters from lifestyle renters, [who are] seeking convenience and amenities, to empty nesters, [who are] seeking more social interaction."

A second promotional brochure from the same three organizations is "Choosing Your Home: Renting Can Make a Lot of Sense." This publication outlines the industry's arguments in favor of renting an apartment, rather than purchasing a single-family residence. Topics include the economic advantages of renting and the potential risks of homeownership. "Many individuals and families in all ages and income brackets actually prefer the convenience, freedom and flexibility of renting," says Kempner. "This new brochure can help households understand that for many, renting is often a better economic decision than buying."

Single copies of both apartment brochures are available free of charge. To receive a copy of "Why Apartments are Vital to America," call NMHC at 202-974-2300. To receive a copy of "Choosing Your Home: Renting Can Make a Lot of Sense," call NAA at 703-518-6141.

Marcie Geffner writes columns that give valuable "how-to" tips and tricks for home buyers and home sellers. Marcie has been covering real estate issues for more than eight years, formerly as senior editor of California Real Estate magazine and now on a freelance basis. Her articles have appeared in the Los Angeles Times and San Diego Union Tribune Sunday real estate sections as well as various real estate association magazines. You can e-mail Marcie at mgeff@worldnet.att.net.


Written by Marcie Geffner
 
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