How to Navigate Federal, State, and Local Policies in Multifamily Investment
- NCC IQ
- Aug 22
- 3 min read
The U.S. multifamily sector is experiencing strong investor interest, yet rising regulatory pressures are reshaping investment strategies across major markets. At the upcoming NCC IQ “ReInvested: Navigating Growth, Risk, and Return in U.S. Multifamily Real Estate” virtual event (15-16 November), attendees will hear from more than 40 influential voices driving capital allocation, operations, technology, and policy. Among them is Delaram Keshvarian, a California-based attorney with extensive expertise in real estate law, who will be speaking on the panel “Regulatory Crosscurrents: How Federal, State, and Local Policies Are Shaping Multifamily Investment” (16 November, 12:10-1:00 PM EST).
Delaram Keshvarian advises clients across both residential and commercial markets, handling cases ranging from quiet title actions to fraud disputes. Her on-the-ground perspective in landlord-tenant law and property rights brings an essential legal dimension to multifamily conversations. At a time when regulatory environments vary dramatically across jurisdictions, her insights into risk, compliance, and policy impact are indispensable for investors, developers, and operators seeking clarity.
The Current Policy Climate in Multifamily Real Estate
Federal policy continues to influence liquidity and housing supply. Interest rate movements, Fannie Mae and Freddie Mac lending guidelines, and federal fair housing standards shape the macroeconomic framework investors must work within. At the state level, policies on rent stabilization, property tax assessments, and energy mandates create additional hurdles and opportunities. Local governments layer on zoning ordinances, development impact fees, and eviction moratoriums, often creating the most direct impact on project viability.
For investors, this creates a need to balance attractive yields with evolving compliance requirements. The multifamily sector remains a strong hedge against inflation, but regulatory challenges add new variables to underwriting, financing, and asset management.
Regulatory Factors to Watch
Level of Government | Key Policy Area | Potential Impact on Multifamily Investment |
Federal | Interest rates & GSE lending caps | Influences cost of capital and debt availability |
State | Rent control & tenant protections | Limits rent growth and impacts NOI forecasts |
State | Property tax structures | Alters long-term returns and valuation models |
Local | Zoning & permitting | Determines feasibility and timing of new developments |
Local | Eviction rules & tenant rights | Increases compliance costs and operational risk |
Why This Conversation Matters
Multifamily real estate has long been considered a resilient sector, yet the policy environment is now one of its greatest variables. Understanding how to assess risk across different jurisdictions can differentiate successful investments from underperforming ones. For attorneys like Delaram Keshvarian, the interplay between property rights and regulation is not theoretical — it is reflected daily in disputes, transactions, and community development challenges.
This panel discussion will bring together legal, operational, and investment leaders to share how they are adjusting strategies. For institutional players, the ability to anticipate regulatory shifts before they crystallize into market realities can preserve yields and safeguard portfolios.
Why Attend NCC IQ “ReInvested”
This event offers more than just panels, it is a concentrated exchange of strategies from across the multifamily ecosystem. Attendees will hear perspectives from CEOs, investors, developers, operators, policy experts, and technology leaders, creating a cross-disciplinary view of where the sector is heading.
Whether you are raising capital, underwriting acquisitions, or managing operations, understanding the intersection of growth, risk, and policy is indispensable. With speakers from Rise48 Equity, RealPage, Multifamily Acquisition Advisors, Carbon, 1031 Specialists, Encore Real Estate Investment Services, DD Capital Advisors, Peak 15 Capital, Cory Executive Recruiting, and others, the program offers insights relevant to both institutional and mid-market players.
The future of multifamily real estate will be shaped as much by regulation as by market fundamentals. By attending this event, you gain access to perspectives that can sharpen your investment strategy and strengthen your positioning across diverse jurisdictions.
No Offer or Solicitation
This communication is intended solely for informational and educational purposes. It does not constitute, and shall not be construed as, an offer, invitation, or solicitation to purchase, acquire, subscribe for, sell, or otherwise dispose of any real estate investments, securities, or related financial instruments. Nothing contained herein should be interpreted as a recommendation or endorsement of any specific investment strategy or opportunity. Furthermore, this communication does not represent, and shall not be deemed to constitute, the issuance, sale, or transfer of any real estate interests in any jurisdiction where such actions would be in violation of applicable laws, regulations, or licensing requirements.
About NCC IQ
NCC IQ is the official real estate eLearning platform of NCC (Northstar Capital & Co.), developed to support the ongoing education and advancement of industry professionals. The platform offers a robust mix of premium and complimentary resources—including on-demand videos, live virtual events, industry podcasts, eBooks, and expert-authored articles—designed to deliver actionable insights and practical tools. Stay informed by following us on LinkedIn and Instagram for the latest educational content and market updates.
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