Washington Report

Advocacy Updates from Washington D.C.

As the federal and state governments address the COVID-19 (coronavirus) crisis, NAR is advocating for the interests of commercial real estate in relief packages and stimulus plans. NAR's commercial real estate membership includes specialists in multifamily properties, small businesses, retail/restaurants, warehouses, and offices, among others - all sectors being impacted by the crisis. As Congress and the Administration consider relief measures for the country, NAR has requested that:

  • 1031 Like-Kind Exchange deadlines be extended through the period of the crisis;
  • The Qualified Opportunity Fund working capital safe harbor be extended through the crisis;
  • Including relief for multifamily property owners in any packages/relief measures that address tenant relief/eviction foreclosures; and
  • Specific relief for small businesses throughout the country which have to temporarily close down and/or layoff employees as a result of the crisis, by supporting the "Keeping Workers Paid and Employed Act," cosponsored by Senators Rubio (R-FL) and Collins (R-ME).  

NAR continues to monitor this crisis and provide frequent updates on federal actions as well as resources for members. Please visit nar.realtor/coronavirus for the latest updates.

Download the 1031 Like-Kind Exchange Extension Request Letter

Download the QOF Working Capital Extension Request Letter

Download the Multifamily Properties Relief Request Letter

Download the "Keeping Workers Paid and Employed Act" Support Letter

Notice: The information on this page may not be current. The archive is a collection of content previously published on one or more NAR web properties. Archive pages are not updated and may no longer be accurate. Users must independently verify the accuracy and currency of the information found here. The National Association of REALTORS® disclaims all liability for any loss or injury resulting from the use of the information or data found on this page.