The Rent Roll with Jay Parsons EP#39 David Todd | Is The Rental Market Cooling Again?
Jun 19, 2025
David Todd, Managing Director at Brookfield Asset Management and CEO of Maymont Homes, shares insights on the rental market's current state. They discuss the puzzling moderation in rent growth despite steady occupancy and strong demand. Todd reveals Maymont's proprietary investment model and why single-family rental operators could gain from a stronger for-sale housing market. The conversation also covers the need for data-driven strategies and the importance of understanding regional dynamics in real estate investing.
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Stalled Rent Growth Dynamics
- Rent growth has stalled despite strong demand and steady occupancy nationwide.
- Operators increase concessions instead of cutting rents to attract renters without lowering base rent.
Renters Moving Upmarket, Not Down
- Apartment demand remains strong with no shift to lower-end units; renters prefer moving upmarket.
- High retention rates show renters renew leases despite economic incentives to move.
Nervous Operators Curb Rent Growth
- Apartment operators had optimistic Q2 rebound expectations which have not yet materialized.
- Market remains healthy with strong fundamentals, but rent growth is moderating due to cautious sentiment.
