Housing report

3 Takeaways from ULI’s Housing Report

A photo of the Stable Residents, Stable Properties presentation.

A study just released by the Urban Land Institute reveals what stakeholders across all sectors of the nation’s rental housing market see as the most pressing issues in today’s environment – and most importantly – what needs to be done. be done to provide more stability to tenants and landlords. .

The report, Stable Residents, Stable Properties, was written by visiting senior researcher Michael Spotts of ULI’s Terwilliger Center for Housing and was formulated based on 30 interviews and 280 survey responses from tenant advocates, tenants, government officials, housing affordability researchers, developers and landlords.

Spotts discussed the report and moderated a panel discussion with ULI Minnesota Executive Director Stephanie Brown and Urban Institute Senior Research Associate Christina Plerhoples Stacy about the findings in a Dec. 15 webinar.

“The stability of the residence/housing system will not be resolved without addressing root causes and long-term issues, Spotts wrote in the report.

Here are three key takeaways from the study:

A holistic approach

One of the main themes of the report, which delved into the challenges facing landlords and residents in today’s rental market, was the need for a more universal stakeholder approach to improve resident stability.

“…improving resident stability requires a holistic approach that considers both the needs of tenant households and the realities of high-quality property operations and management,” Spotts wrote in the study. “The challenges are not separate, but two sides of the same coin.”

bad faith actors

The study found that the overall outlook is often shaped by the few when it comes to the rental housing landscape, and this can have a disproportionate negative impact on stability and politics. Bad faith actors, whose numbers are usually very small, tend to have an impact on how tenants and landlords perceive the group in general.

“Problems created by bad faith actors have a toxic effect on political discourse, eroding trust and inhibiting good faith dialogue,” the report read.

Find common ground

The far-reaching report found key areas of agreement that could help form a solid plan of action moving forward. There was a general consensus that the market status quo was “unsustainable” and respondents showed strong support for public policy to increase affordability and neighborhood choice.

Landlords and property managers and tenant advocates agreed there was a need for more rental housing across a range of income levels, the addition of which could help cool rental prices and provide more options to tenants.

The study found common ground for implementing and improving resident stability best practices. Practitioners generally favored efforts that would identify and disseminate best practices to improve resident stability, while tenant advocates showed broad support for a “tenants bill of rights” that would outline a set of principles and recommendations. policies for local and state officials seeking to level the playing field and/or improve tenant protections.