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The Wall Street Journal ran the numbers on New York City's rent-stabilized housing. The headline: the biggest discounts go to the wealthiest tenants, not the ones the system was built to protect.

Good story for a fairness debate.

Wrong headline if you underwrite multifamily.

The number that actually matters on a rent roll is this: the discount isn't citywide. It's borough-specific.

Manhattan stabilized units rent for about half of market...
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The Wall Street Journal ran the numbers on New York City's rent-stabilized housing. The headline: the biggest discounts go to the wealthiest tenants, not the ones the system was built to protect.Good story for a fairness debate.Wrong headline if you underwrite multifamily.The number that actually matters on a rent roll is this: the discount isn't citywide. It's borough-specific.Manhattan stabilized units rent for about half of market. Brooklyn's discount is roughly 24%. Queens is 13%. The Bronx is 12%.A pro forma that applies one mark-to-market assumption across all four boroughs is flawed before you've even opened the T-12.It also challenges the standard turnover assumption. Underwriters often view stabilized units as future upside: tenants move out, rents reset closer to market, and NOI improves.That logic weakens when a tenant is paying thousands below market. The greatest mark-to-market opportunity may also be the least likely to materialize because those tenants have the strongest incentive to stay.Rent stabilization is a submarket variable, not a constant. Pull the borough-level discount before you pull the trend line.Full Blog:https://lnkd.in/gyZCPyHV
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How do you deal with an irate resident?

The absolute worst thing you can do is immediately start citing what the lease says.

All three of these from Isabella is gold, but my go to has always been the first.

Ask if it’s ok to take notes so you fully understand the situation, sit down, and just listen.

Yes, you may already know the answer, so it’s incredibly tempting to immediately provide that, especially since you have a ton of other things you...
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Something I’ve been thinking about a lot lately:

I don’t want to just be a manager.

I want to build people.

I want to be the person who sees potential in someone, gives them an opportunity, teaches them what I know, and eventually watches them become better than I was at the job.

That’s what leadership means to me.

Not creating a team that can’t function without you.

Not keeping people beneath you because you’re afraid they’ll outgrow you.

Not...
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Rommel Anacan That is the mindset shift that will impact the lives of many and make your career feel more meaningful and purposeful… even when a resident is yelling at you!🙂
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Guest Insider As a fellow Cheyanne - I feel this deep in my bones.
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Guest Insider I loveeee this 🤍
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Renting remains substantially cheaper than owning, but the affordability gap is only part of what's supporting apartment demand.

The average monthly cost of owning a home was $3,070 in the second quarter, compared with $1,894 for renting an apartment, according to Newmark. That's a $1,176 monthly...

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Guest Insider Is the company Carbon?
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Guest Insider Real estate is a local business, regardless of company size. Important to know how your customers purchase your product in your specific market and submarket.
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Robert Tinning John Ridgway agreed. That sounds like a fee mgmt company or REIT that has a one size fits all mentality.
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Guest Insider I worked in the SF Bay Area where we never get inclement weather, and one of my buildings did this. The pricing during Spring and Summer is typically higher so that was one purpose behind that decision at a corporate level. Also, this allowed maintenance to have a designated time to work on projects they never had time to do during the ‘busy’ season like touch up painting common areas. And if weather does hit us (usually just wind and rain) they would have time to address those issues without delaying turns.
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Stacey Pichette Longer leases are good for everyone. It looks them in at that price for a longer term and stops you from turning units in slower leasing months that could sit vacant. I would give it a try and if it doesn’t work for you, explain why it’s not working and have a proposed plan to move forward.
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Guest Insider My last apartment in Houston offered odd numbers of months in their Leases (7 months, 13 months, etc.). My understanding was that their system offered varying lengths so that Lease expirations (and potential vacates) were spread out as evenly as possible throughout the year. November thru February is the slowest part of the year, so they may also have limited Leases that expired in those months. But expecting zero move-outs in those months does not seem reasonable in our warmer climate here in Texas.
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Tamie Poe When I was a regional manager, I had Proprties in different locations. This does work in states in the Midwest they get harsh winters. However, it is not something that would’ve worked on my warmer climate states. Definitely would not have worked on my Florida properties.
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Chris Finetto I’ve always worked to not have expirations in late Dec to early Jan, made it nice for the Site Team.
I’ve done the weird lease lengths. It takes getting used to, when dealing with prospects. “…would you like the 11 month or 13 month option….”
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Jennifer Lynn I'm a property manager but have also been on the other side of this in the past. I actually loved it because I could pick whatever lease term was significantly cheaper. Usually they would offer 9 months for say $1000, then 10 months for $1300 etc trying to get tenants to pick one or another. Come next renewal same thing. We saved thousands that way over the years.
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Saw this posted in another group. Interesting.

We have a new management company taking over our property in the coming weeks. They are based out of Colorado. We are in the sunbelt.

They want to have it set up within a couple years where no leases will expire from Sept- February. They strongly prefer to have no move ins or move outs for nearly half of the year. Our property is still very busy in what they deem the so called winter months. We...
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Guest Insider Is the company Carbon?
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John Ridgway Real estate is a local business, regardless of company size. Important to know how your customers purchase your product in your specific market and submarket.
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Guest Insider John Ridgway agreed. That sounds like a fee mgmt company or REIT that has a one size fits all mentality.
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Guest Insider I worked in the SF Bay Area where we never get inclement weather, and one of my buildings did this. The pricing during Spring and Summer is typically higher so that was one purpose behind that decision at a corporate level. Also, this allowed maintenance to have a designated time to work on projects they never had time to do during the ‘busy’ season like touch up painting common areas. And if weather does hit us (usually just wind and rain) they would have time to address those issues without delaying turns.
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Stacey Pichette Longer leases are good for everyone. It looks them in at that price for a longer term and stops you from turning units in slower leasing months that could sit vacant. I would give it a try and if it doesn’t work for you, explain why it’s not working and have a proposed plan to move forward.
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Guest Insider My last apartment in Houston offered odd numbers of months in their Leases (7 months, 13 months, etc.). My understanding was that their system offered varying lengths so that Lease expirations (and potential vacates) were spread out as evenly as possible throughout the year. November thru February is the slowest part of the year, so they may also have limited Leases that expired in those months. But expecting zero move-outs in those months does not seem reasonable in our warmer climate here in Texas.
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Tamie Poe When I was a regional manager, I had Proprties in different locations. This does work in states in the Midwest they get harsh winters. However, it is not something that would’ve worked on my warmer climate states. Definitely would not have worked on my Florida properties.
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Chris Finetto I’ve always worked to not have expirations in late Dec to early Jan, made it nice for the Site Team.
I’ve done the weird lease lengths. It takes getting used to, when dealing with prospects. “…would you like the 11 month or 13 month option….”
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Jennifer Lynn I'm a property manager but have also been on the other side of this in the past. I actually loved it because I could pick whatever lease term was significantly cheaper. Usually they would offer 9 months for say $1000, then 10 months for $1300 etc trying to get tenants to pick one or another. Come next renewal same thing. We saved thousands that way over the years.
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The problem nobody's actually solvingHere's the strange thing about 2026: staffing pressure has eased almost everywhere except the one place it hurts most. Leasing consultants are easier to hire than they were two years ago. Maintenance techs? Still the hardest role on the org chart to fill, because you're not competing with the property down the street, you're competing with construction, hospitality, and every trade employer in the market. ...

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Brent Williams created a new topic ' NOT IN MY BACKYARD!' in the forum. 2 days ago

Yes, NIMBYism is real, and is one of the largest roadblocks to building quality housing.

But the fears of multifamily development often do not match the outcome.

Love this from Patricia:

“We often talk about economic development as if jobs and housing are separate conversations, but how could...

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Guest Insider
Housing is treated as a lagging indicator when it's actually the input. Towns chase the tax base and commercial growth that come with expansion, then block the multifamily supply that workforce needs to show up for it.
Treat housing as a nuisance instead of infrastructure and the businesses you courted inherit the staffing gap, along with the service and cost fallout that comes with it.
Which one usually loses in these zoning fights, the revenue math or the staffing math nobody in the room is running?
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Multifamily operators are investing heavily in technology, automation, AI, amenities and marketing.But when a prospect can choose from five comparable apartment communities within a few miles—and several are offering aggressive concessions—the competitive advantage may be much simpler:How does your property make people FEEL?That idea surfaced repeatedly in my conversation with Anna Kunkel, VP of Property Management at Compass Communities. Anna ha ...

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Gerry Hunt shared a photo. 2 days ago

The Momma Bear and her cubs that live on my property!

The Momma Bear and her cubs that live on my property!
Kathy Gifford Vance How much of a premium do you get for that view????
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Gerry Hunt Kathy what a great idea!! 💜😂
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Brent Williams Donald, what type of premium are thinking in this situation?
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Donald Davidoff Whatever the market will bear! *pun intended" 🤣
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Kathy Gifford Vance Donald Davidoff now you’re talking! 🤣😂
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A luxury apartment brand can survive an ordinary countertop.It can survive a smaller fitness center.It can survive not having the trendiest amenity in the submarket.What it struggles to survive is contradiction.The website says effortless.The application process feels complicated.The photography says pristine.The tour reveals worn furniture and dead landscaping.The leasing presentation says attentive service.The prospect waits three days for a re ...

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Where Procurement Leaks Margin and How AI Closes the GapYou already know maintenance and turns can eat into NOI. But how much of that spend is actually necessary, and how much is just leaking out through gaps in your procurement process?It is rarely the small line items that get scrutinized in budget reviews. It is the accumulation of small, invisible decisions made every day across your portfolio: a technician ordering a non-standard item from t ...

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Have used Yardi for 20 years. Thoughts from accounting and PM roles?

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Josh McKibben We went from AF to Yardi and have hated it. I think Yardi has far too many limitations compared to AF. For example, the report builder function in AF is amazing. When I reached out to Yardi to make the same report, it was going to cost $5,000 and take a field of NASA engineers to develop it.
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Jon Espy There's no comparison. Appfolio blows yardi out of the water. I can't belive anyone still uses yardi
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Guest Insider I’ve used Yardi, Rent Manager, and love AppFolio
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Guest Insider Kimberly Anne I just got a wave of PTSD when I read "Rent Manager."
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Guest Insider Sela Dawn 😂 should have added MRI- horrible!
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Mike Davis As someone who spent 14+ years at RealPage I love seeing the back-and-forth when a question like this is posted.
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Guest Insider Oh boy, I love getting out the popcorn for these discussions
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Stacey Pichette AppFolio is amazing! Make the change you won’t regret it
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Tina Cavaco Resman ...look into it you won't be sorry!
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Guest Insider AppFolio is the best.
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Guest Insider I’ve used Yardi and Appfolio. I prefer Appfolio.
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Patrick Johnson Do yourself a favor and consider taking a look at ResMan as well if you are going to make a switch.
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Stacey Pichette Patrick Johnson I’ve used ResMan and found it to be very basic
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Tina Cavaco Stacey Pichette check out updates
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Jason Schorr I went fron a company with appfolio to one with Yardi and the amount of glitches, errors and archaic feeling if the UI makes me think it's never left windows XP both in look and functionality
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Jaymz Yates what is the reason for the change?
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Anonymous member Jaymz Yates cost is one of the main issues.
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Anonymous member Jaymz Yates cost is one of the main issues.
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Jaymz Yates Anonymous member ive always heard yardi say they will be competitive if apples to apples... thats surprising but i get it
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Guest Insider How’s AppFolio’s support now? We left AppFolio for MagicDoor because we got tired of constantly chasing their support team. The platform itself was okay their support was just terrible.
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Anonymous member Anne Carter on the demo there is an AI bot to start with and then a request a person.
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Guest Insider Anonymous member Their support is only good when you’re about to switch to them, but once you’re on the platform, their support is so hard to reach at least based on our experience.
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Guest Insider Look Stability Builders Community
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Hilary Davis We went from Yardi to Appfolio. Never looked back!!!! You should do it!
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Sammy Wayne shared a photo. 3 days ago

“Yes, that is a bottle of liquor sitting on a gas stove — and yes, the gas stove was ON. We discovered this during routine preventative pest control. The resident appears to have skipped out while under eviction.

This could have ended very differently. Thankfully, our team entered the apartment when they did.

Property management friends: What would you do in this situation?”

“Yes, that is a bottle of liquor sitting on a gas stove — and yes, the gas stove was ON. We discovered this during routine preventative pest control. The resident appears to have skipped out while under eviction.This could have ended very differently. Thankfully, our team entered the apartment when they did.Property management friends: What would you do in this situation?”
Guest Insider Never in my 18 years have I seen anything like this. That’s wild. I’m assuming the flame was lit and the bottle popped by the flame? Is there liquid or was the glass just broken.
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Sammy Wayne Liquor on top of the stove- while on. Popped it could have blown up the apartment
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Thom Jesse Another day at the office… thank God no one was hurt. Add a new stove and the labor to their FAS, order the replacement, send the account to collections, and get on with the other 100 things that need to be handled today!
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Amanda Guyer Call the police/ fire department to report attempted arson. Likely won’t go anywhere if they skipped and left the unit unsecured, but still worth documenting. Especially if they do it again somewhere else and it’s not caught in time.
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Mike Powers That has an intentional feel to it....
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Guest Insider I would reach out to corporate and the lawyer, if you work with a lawyer. If they were trying to light the place up on purpose, having this issue in writing on file and corporate and legal notified will cover you, if they try to start another fire in the future at your community, or if they have plans to come back and do it again while they are moved out. Better safe than sorry, IMO. Also, make sure that you have all your ducks in a row with corporate and legal and change the locks ASAP, if it’s before their scheduled lock out date, so that they can’t come back and do this again or claim that you locked them out too early. That’s my advice, but reach out to corporate and your manager ASAP, because I don’t work there. 🙂 Also, check the lease for what it says about fires/kitchen fires. It looks like ash to me, so this should be classified as a kitchen fire, which from the state I worked in, was grounds for an immediate eviction.
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Guest Insider Wouldn’t a police report be more appropriate? This is attempted arson.
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Guest Insider I don’t know that they would call it intentional. Without evidence. Definitely neglect improper use. Unless the tenant made threats prior to vacating because of his eviction that he was going to do something like this. It would be hard to prove intentional. People are so damn dumb.
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Guest Insider Definitely at least neglect.
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Guest Insider Couldn’t hurt to do that in addition! Even if it can’t be proven, there will still be a record of it, in case they try again.
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💻Tech adoption! Are you experiencing any tech fatigue on site with new products? How are you combatting it?

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