The Florida Apartment Association’s Inspire 2024 conference was such a successful event, we couldn’t pass up the opportunity to talk about it! Marked by a noticeably positive and collaborative atmosphere, attendees consistently commented on the friendly and engaging interactions throughout the conference. For those who couldn’t make it, we thought we’d share more about what took place in both conversations and in sessions to shed light on Florida’s top challenges, concerns and legislative progress.
The FAA's recent legislative successes contributed to the overall positive sentiment at the event. The association has effectively advocated for policies that benefit various stakeholders, including investors, owners, and renters. These were some of the legislative focuses that were signed into law by Governor DeSantis this year:
FAA continues to observe over 80 bills that will impact the industry. You can learn more about FAA’s legislative advocacy work and their 2025 legislative priorities here.
One of the prominent topics at the event was the affordable housing crisis in Florida. FAA has demonstrated its commitment to this issue by partnering in a comprehensive survey to understand the depth of the crisis.
Serving as a potential model for other associations, this survey has provided the FAA with significant credibility in advocating for affordable housing owners, operators, and residents. The overarching themes of the survey results were:
The survey's insights will continue to play a crucial role in shaping policy discussions and finding viable solutions to address these problems.
Another key theme discussed was the rising problem of fraud on both a national and a state level. Fraudulent activities, often orchestrated by organized crime, can significantly impact an apartment community’s profitability, especially in times of slower rent growth. Speakers at the event highlighted how these criminal organizations tend to repeatedly target properties that have fallen victim to their schemes once before.
Lease-up properties were identified as particularly vulnerable to fraud, as evicting fraudulent residents can be a lengthy and complex process. Additionally, the aftermath of fraud often leaves units in need of significant repairs, making it harder to attract new residents and maintain the appeal of a brand-new property. The consensus was clear: fraud detection measures are absolutely essential for properties to mitigate these risks.
The Cocktails and Compliance session, hosted by Janel Ganim and Rue Fox, emerged as a highlight, particularly as it was the only session dedicated to affordable housing. With special guests Ricardo Alicea from Wendover Housing Partners, Stacy Day from Karen A Graham Consulting, and Kimberly Maggard from Royal American Management and former President of FAA, this lively and engaging session provided valuable insights into compliance issues related to affordable housing. Some topics include HOTMA, staffing, centralization, technology and more. And who knows? Rue and Janel may be back to do another Cocktails & Compliance session at next year’s Inspire event!
The FAA event was all in all a huge success, bringing together industry professionals, fostering a strong sense of community, and addressing critical issues facing the apartment industry in Florida. The event's focus on collaboration, education, and advocacy created a positive and impactful experience for all attendees. Those interested in learning more about the FAA and how to get more involved can visit faahq.org.
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