Property Management Business 67. 2026 Rental Market Preview Part 2 - What to Expect with Jesse Lederman of Zelman
Dec 30, 2025
Jesse Lederman, Chief Financial Analyst at Zelman & Associates, shares insights on the evolving rental market landscape. He discusses how renewal rent growth is outpacing new move-in pricing due to renter stickiness and 'friction.' They explore rising days on market and maintenance costs, revealing surprising declines. The podcast highlights divergent behaviors in investor demand, with institutions pulling back while individual buyers seize opportunities. Jesse also forecasts potential stabilization and a rebound in new move-in rents as the spring leasing season approaches.
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Start Pricing Aggressively To Reduce Days On Market
- Price vacant homes aggressively at listing instead of making repeated cuts to shorten days on market.
- Faster leasing preserves occupancy and avoids larger long-run revenue loss from long vacancies.
Days On Market Remains Elevated
- Vacant single-family homes averaged 42 days on market in November, well above pre-COVID norms.
- Longer leasing reflects stretched affordability, more supply, and stronger concessions from multifamily competition.
Track Annualized Turnover Closely
- Measure and monitor your annualized turnover rate to benchmark performance.
- Compare to industry average (~24–30%) and aim nearer 20% to reduce capex and vacancy exposure.