The Rent Roll with Jay Parsons EP#57 Chris Finlay | Is It Time To Worry? Plus: A Conversation With Middleburg's CEO
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Oct 30, 2025 Chris Finlay, Founder and CEO of Middleburg Communities, shares insights from his extensive experience as a developer and operator in the apartment sector. He discusses concerns about potential recession impacts on rental markets, while emphasizing Middleburg's focus on high-growth areas and development over acquisitions. Finlay also highlights his nonprofit, Entryway, which helps individuals experiencing homelessness secure job training and employment in the apartment industry, boasting impressive success rates. Their conversation unpacks industry dynamics and strategies for navigating the shifting landscape.
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Two-Month Renewal Concession Example
- A Denver renter received a two-month concession even on a renewal amid heavy local supply.
- Parsons uses this to illustrate the extreme concessions happening in soft submarkets.
Calculate Renewal Tradeoffs Carefully
- When retention demands concessions, run the math: tradeoffs include higher turn costs and vacancy loss.
- Tailor renewal vs. new-lease strategies to avoid inverted rent-roll outcomes.
Agency Construction Lending Could Shift Supply
- Expanding Fannie/Freddie into construction loans could add liquidity and reduce cyclicality for builders.
- Parsons notes the policy would increase supply by tapping agency lenders for construction financing.