ATLANTA, GA--From protecting our interests on Capitol Hill to educating us about best practices, national commercial real estate associations work tirelessly to support our industry.In this week’s Commercial Real Estate Show, we talked with some of the top commercial real estate associations in the nation. We explored a wide range of member benefits and learned how these associations are tackling some tough issues to protect our profession.
Legislative issues are hot right now, as some associations are advocating for pro-business tax policies and monitoring the proposed Financial Accounting Standards Board (FASB) lease accounting rules.
Advocacy is especially important in these economic times, as 48 of the 50 states face budget deficits and some legislators are looking for new ways to tax business owners, says Doug Culkin (top right photo), president of the National Apartment Association.
“So much legislation is happening,” Culkin said. “We all understand that budget deficits have to be overcome, but we don’t feel that the way to overcome those deficits is by putting an undue burden on the backs of business men and women all around the country.”
The National Association of Real Estate Investment Trusts (NAREIT) is advocating to reform the Foreign Investment in Real Property Tax Act (FIRPTA), says Bonnie Gottlieb (middle left photo), the association’s vice president of industry and member affairs.
NAREIT is strongly supporting legislation that would either remove or reduce FIRPTA’s tax burden on profits from the sale of commercial real estate and REIT shares, Gottlieb explained.
“It would help put the entire commercial estate industry on a more level playing field with other U.S. stocks, so it’s very very important, but it’s going to be a tough fight,” Gottlieb said.
This is just one of the goals at the association, which works to tell the REIT story to investors, policy makers and the broad commercial real estate industry.
The National Retail Tenants Association is monitoring the proposed FASB lease accounting rules, which are a major concern for many retail tenants.
“Lease administrators are going to have to scramble to go back in and dig out an awful lot of information from their leases, so that is one of the major issues that everybody is waiting to hear what the final result is going to be,” said Paul Kinney (middle right photo), executive director of the National Retail Tenants Association.
Kinney said the association has also dealt with many bankruptcy issues, involving both shopping centers and tenants.
Another key role of associations is to provide professional education and teach best practices through annual conferences, local meetings and web-based tools. Urban Land Institute has seminars around the world, with 24 programs each year in Atlanta alone.
Many associations also offer networking and other shared resources for members. For example, Urban Land Institute helps its 30,000 members worldwide connect to share expertise on everything from infrastructure to sustainability.
“It really is a culture of sharing,” said Jeff DuFresne,(lower left photo) executive director of Urban Land Institute. “A lot of the members grow professionally and personally through mentoring and problem-solving together.”
This show was an excellent overview of several established organizations that serve our profession. The show can also help you figure out which organizations best fit you and your company. If you haven’t heard it already, the show is available for download here.
The next “Commercial Real Estate Show” will air June 11 and will provide insight into the world of commercial loan workouts. Tune in to hear from our panel of experts and find out the best practices that are working well at this point in the cycle.
It will be available for download at www.commercialrealestateshow.com
Contact:
Christin Clay
Wilbert News Strategies
1720 Peachtree St, Suite 1040
Atlanta, GA 30309
p 404-965-5025 | m 404-405-2354
Twitter: @christinclay10
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