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Changed Risks for MID AMERICA APARTMENT COMMUNITIES INC (MAA)

Acquisitions of apartment communities involve various risks and may fail to meet expectations

Unfavorable market and economic conditions could adversely affect occupancy levels, rental revenues and the value of our properties

Failure to succeed in new markets may have adverse consequences on our performance

If any REIT previously acquired by us failed to qualify as a REIT for US federal income tax purposes, we would incur adverse tax consequences and our financial condition and results of operations would be materially adversely affected

Risks Related to MAA's Organization and Ownership of Its Stock

Legal proceedings that we become involved in from time to time could affect our business

Extreme weather or natural disasters may cause property damage or disrupt business, which could harm our business and results of operations

Rising interest rates could adversely affect our results of operations and cash flows

Item 1A Risk Factors

Risks Related to the Operating Partnership's Organization and Ownership of OP Units

The Operating Partnership's existing unitholders have limited approval rights, which may prevent the Operating Partnership's sole general partner, MAA, from completing a change of control transaction that may be in the best interests of all unitholders of the Operating Partnership and all shareholders of MAA

Our operations are concentrated in the Southeast, Southwest and Mid-Atlantic regions of the United States; we are subject to general economic conditions in the regions in which we operate

Short-term leases expose us to the effects of declining market rents and we may be unable to renew leases or relet units as leases expire

Risks Related to Our Indebtedness and Financing Activities

Acts of violence could decrease the value of our assets and could have an adverse effect on our business and results of operations

Risks Related to Our Real Estate Investments and Our Operations

Risks Related to Tax Laws