NAREIT Asks for Change to Technical Corrections Bill

06/20/2016

NAREIT submitted comments to the leaders of the Senate Finance and House Ways and Means Committees on June 20 requesting a change to the Technical Corrections Act of 2016 (H.R. 4891 and S. 2775).

NAREIT requested a correction that would treat gains from ancillary personal property rented alongside real property as real estate-related gains. NAREIT said the change would be “consistent with the Congressional intent of streamlining compliance with the REIT gross income and asset tests when ancillary personal property is leased with real property.”

(Contact: Tony Edwards at tedwards@nareit.com)

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What's a REIT?

REITs, or real estate investment trusts, are companies that own or finance income-producing real estate across a range of property sectors. These real estate companies have to meet a number of requirements to qualify as REITs. Most REITs trade on major stock exchanges, and they offer a number of benefits to investors.

Why Invest in REITs

REITs historically have delivered competitive total returns, based on high, steady dividend income and long-term capital appreciation. Their comparatively low correlation with other assets also makes them an excellent portfolio diversifier that can help reduce overall portfolio risk and increase returns. These are the characteristics of real estate investment.

About Nareit

Nareit serves as the worldwide representative voice for REITs and real estate companies with an interest in U.S. real estate. Nareit’s members are REITs and other real estate companies throughout the world that own, operate, and finance income-producing real estate, as well as those firms and individuals who advise, study, and service those businesses.