Comment Detail

Comment

July 19, 2023

The Federal Housing Finance Agency
Office of Multifamily Analytics and Policy
400 7th Street, S.W.
Washington, D.C. 20219

To Whom it May Concern in the Office of Multifamily Analytics and Policy:

The Collier Companies is a privately held owner who self manages 12,000 Apartment Homes, mainly in Florida.

Our Mission Statement is “Proudly Making Your Home the Heart of Our Business”. We believe that one’s home is fundamental to folks emotional, physical and spiritual well-being and we regard being entrusted with providing homes to be an honor that evokes a high duty of care and responsibility. Every business needs a purpose beyond profit and that is ours.

Though well intentioned, FHFA’s proposed Tenant Protections will do more harm than good in the long run.

We start every year knowing we are guaranteed exactly ZERO leases; we must earn every renewal, every new lease. We are engaged in a form of economic democracy; with our Residents voting annually with their dollars. Our competitors want our Customer’s dollars just as much as we do and whomever provides the best services, the best product, the best value for their money, wins.

In a free market, where consumers have plentiful options and the resources exercise those options, whatever business makes the most folks happy, is the most successful.

FHFA’s proposed Tenant Protections will directly add to the cost of housing and in the long run reduce the supply of housing thus reducing competition and the availability of house, further increasing the cost of housing.

Furthermore, FHFA’s implementation of these regulations will cause the industry to slowing move away from FHFA as a source of funding, reducing FHFA’s influence and its ability to impact the industry via it’s ‘bully pulpit’.

Sincerely,

July 19, 2023

The Federal Housing Finance Agency
Office of Multifamily Analytics and Policy
400 7th Street, S.W.
Washington, D.C. 20219

To Whom it May Concern in the Office of Multifamily Analytics and Policy:

The Collier Companies is a privately held owner who self manages 12,000 Apartment Homes, mainly in Florida.

Our Mission Statement is “Proudly Making Your Home the Heart of Our Business”. We believe that one’s home is fundamental to folks emotional, physical and spiritual well-being and we regard being entrusted with providing homes to be an honor that evokes a high duty of care and responsibility. Every business needs a purpose beyond profit and that is ours.

Though well intentioned, FHFA’s proposed Tenant Protections will do more harm than good in the long run.

We start every year knowing we are guaranteed exactly ZERO leases; we must earn every renewal, every new lease. We are engaged in a form of economic democracy; with our Residents voting annually with their dollars. Our competitors want our Customer’s dollars just as much as we do and whomever provides the best services, the best product, the best value for their money, wins.

In a free market, where consumers have plentiful options and the resources exercise those options, whatever business makes the most folks happy, is the most successful.

FHFA’s proposed Tenant Protections will directly add to the cost of housing and in the long run reduce the supply of housing thus reducing competition and the availability of house, further increasing the cost of housing.

Furthermore, FHFA’s implementation of these regulations will cause the industry to slowing move away from FHFA as a source of funding, reducing FHFA’s influence and its ability to impact the industry via it’s ‘bully pulpit’.

Sincerely,

Nathan S. Collier
220 N Main St. Gainesville, FL 32601
$2B+ Assets Owned/Self-Managed