Property Management Business 56. Single Family Rental Survey Results with Jesse Lederman of Zelman
Aug 12, 2025
In a deep dive into the single-family rental market, Jesse Lederman, a senior analyst from Zelman & Associates, shares crucial insights on current trends affecting property management. He discusses rising maintenance costs, fluctuating occupancy rates, and the shifting dynamics between renewal and new lease rates. With an eye on economic uncertainty, Jesse highlights how these factors influence affordability for renters and the strategies landlords must adopt to navigate this evolving landscape. Expect valuable data to help inform smart investment strategies!
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Renewals Outpacing New-Lease Rises
- Renewal rent growth has recently outpaced new-move-in rent growth, a historic inversion.
- That reflects weak pricing power for acquiring new renters versus retaining incumbents.
New Tenants Are Pricier To Win Than To Keep
- New tenants often require incentives and lower net rents compared with renewals.
- About a fifth of operators report negative new-move-in rent growth versus outgoing tenants.
Prioritize Renewals Over Vacancy Chasing
- Be more aggressive on upfront concessions and pricing when chasing new tenants.
- Preserve renewal pricing power by focusing on tenant retention and reducing turnover.