Discover more from Multifamily Minute
What You Should Know About the National Multifamily Housing Council
One of the greatest strengths of the multifamily finance industry is the community itself. Learn about one such community you might want to be a part of!
The National Multifamily Housing Council (NMHC) is a non-profit trade and advocacy group for the multifamily industry. Playing the role of an active public policy group, the NMHC donates to candidates that support the apartment housing industry, while advocating for a plethora of policies, including those that will help strengthen America’s supply of affordable housing. Additionally, the NMHC conducts research on important industry issues and trends, helping those both a part of and outside of the industry make sense of market trends, sales figures, and debt and equity financing for multifamily acquisitions and development projects.
Membership in the National Multifamily Housing Council is extended to both individuals as well as entities and provides a wide swath of networking opportunities, including three annual meetings, a fully accessible membership directory, and a variety of educational resources for members of any experience level. With everything they have to offer, becoming a member could be a valuable investment for an investor, owner, or developer.
Should You Become a Member of the NMHC?
While there are many groups to join within the multifamily finance community, it is important to know which ones are worth joining. This is particularly important when membership requires some sort of fee. Unlike groups such as the American Apartment Owners Association or the Landlord’s Association, which have a heavier focus on providing discounted services for members, the National Multifamily Housing Council is more of a high-level public policy group, and, has some hefty membership fees that reflect that. Membership to the NMHC is offered at three different tiers, including:
Advisory Committee Membership ($5,000/year): Advisory Committee membership is the lowest tier and the least expensive option for potential members. Benefits of this tier include two free attendance passes for the NMHC’s Annual Meeting in January, and one reduced attendance pass (at $700), as well as three free attendance passes for the NMHC’s Membership Meeting that typically takes place in September. In addition, members will gain access to each of the NMHC’s newsletters, as well as the ability to send one mailing to the entire NMHC membership list. Other benefits include the ability to attend NMHC forums, free consultations with NMHC staff, access to the NMHC research library, and reduced fees for job postings on the NHMC job and internship board.
Board of Directors Membership ($15,000/year —$10,000 for the first year): Board of Directors membership is the middle tier of membership available from the NMHC. Members at this level, in addition to all of the basic benefits offered in the Advisory Committee membership, gain another pass for an additional representative to attend the NMHC’s Annual Meeting in January. This tier also grants members eligibility to serve as NMHC officers and chair NMHC committees, attend private industry events with government leaders and business executives, sponsor NMHC events, and represent the council in front of Congress and other governmental committees.
Executive Committee Membership ($20,000/year): The Executive Committee Membership adds an extra level of exclusivity by remaining invitation only. In addition to offering all of the benefits of each of the other membership tiers, Executive Committee membership provides members access to three exclusive peer roundtables each year, as well as the ability to attend exclusive VIP events and luncheons.
For any high-level employee or executive in a mid-size or larger real estate investment or development firm, brokerage, or a major supplier to the apartment industry who wants to focus on building industry relationships, even an advisory committee membership could be a great idea at a decent enough price. Still, $5,000 per year for annual membership dues may seem relatively steep for some, but for those who share that sentiment, an NMHC membership likely wouldn't be worth the investment anyway. Furthermore, at $15,000 and $20,000 respectively, Board of Directors and Executive Committee memberships may not be a worthwhile investment unless you’re a high-level executive at a top firm with a specific interest in learning about and shaping public policy initiatives.
That said, if the $5000 fee isn’t enough to turn you away, there is a good chance that the benefits to be found through a membership with the National Multifamily Housing Council are well worth your attention, and could help build your business.