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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Occupancy And Rent Growth Are Historically Weak
- Occupancy and blended rent growth are near multi-decade lows despite seasonal improvement.
- Zelman attributes this to rising supply and stretched affordability for many renters.
Seasonal Gains Mask Structural Headwinds
- Occupancy nudged up seasonally but remains below normal June levels.
- Key headwinds are growing supply (BFR, multifamily, resale) and affordability constraints.
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.