Multifamily

The multifamily industry is facing a number of headwinds such as high operating costs, increased vacancy and stagnant rent growth. Property managers are leveraging artificial intelligence (AI) and focusing on recruitment and retention of workers as solutions. There’s also a strong emphasis on resident satisfaction, with the goal of providing top-notch maintenance and property events to help secure lease renewals.  In June 2025, operational expenses in multifamily assets were roughly 39 percent above where they were prior to the pandemic, according to commercial real estate data analytics firm RealPage. In the first quarter of 2026, three of the six apartment market regions that CBRE tracks posted negative year-over-year rent growth (Mountain, South Central and Southeast). The national vacancy rate was 4.8 percent, up slightly from a year ago but down 20 basis points from fourth-quarter 2025, according to CBRE.  Amid these pressures, the role of the property manager is vital in helping shape resident satisfaction and maximizing operational efficiencies. Jim Cunningham, president of Marquette Management in Naperville, Illinois, says the multifamily industry is in a period of transition. “Operators are navigating higher operating costs, increased regulatory scrutiny and a more value-conscious renter, all while expectations for service and experience continue …