NAA and NMHC have jointly released guidance on the effects of the new overtime rule on the multifamily industry. From the description on the NAA website:
NAA/NMHC have released guidance for the apartment housing industry on the Labor Department’s overtime rule. Prepared by Jennifer Redmond and Brian Fond of Sheppard Mullin, the guidance describes the rule in detail and provides issues for owners, operators and developers of apartment housing to consider as they seek to comply with the new rule. Effective Dec. 1, the rule lifts the overtime pay threshold from $23,660 to $47,476 and is expected to impact 4.2 million executive, administrative and professional employees who are paid by the hour or earn less than the new threshold.
You must be a member of NAA to access the whitepaper and, as a reminder, if you’re a member of PTAA you are automatically a member of NAA.