Q4 2025 Magazine

MULTIFAMILY DIGITAL MAGAZINE Q4 | DECEMBER 2025

LET’S CELEBRATE THE HEART OF MULTIFAMILY

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WHAT’S INSIDE? 03

Multifamily Weekend Look Back and Optech Recap

Latest Top Podcasts from MMN Hosts

06 Quarter 4 |Top Podcast 08 09 New Podcast Alert | The Utility Room 10 Behind the Tech | PropTech Pulse with Shelley Robinson 11 Podcast Palooza 2026 13 Appfolio | 5 Essential Shifts: Moving Real Estate from the “Efficiency Trap” to Real Performance PetScreening | Why the Most Successful Communities Are Rethinking Their Pet Policies

Syndication Parternship Highlights

MRI Software | The future of multifamily leasing: Five Proptech predictions shaping 2026 and beyond 15 17 Multifamily Collective | Top Conversations with Mike Brewer

Q4 Highlights by Multifamily Weekend Update

If Q3 raised the volume, Q4 carried the echo. This was the quarter of wrap-ups and reckoning: final meetings, final deals, final budgets, final flights. All of this layered with holiday lights, colder weather, and warmer reflection. Even in shorter weeks, the industry didn’t fully power down. Fewer posts, shorter meetings, but meaningful nonetheless.

Watch the The Latest MF Weekend Update

Every Friday, Multifamily Weekend Update gathered the swirl and pressed play. Sometimes festive, sometimes poetic, sometimes pirate-adjacent...but always live. The tone stayed equal parts newsroom, classroom, and community cookout, even as end-of-year sign-offs filled the feed. Reflections, AI-generated recaps, and gratitude posts became a form of collective exhale—leaders pausing to look back and name what mattered before racing ahead. The headlines didn’t take a holiday. Capital continued to move, and portfolio strategy sharpened. One of Q4’s clearest signals was how intentionally owners are thinking about 2026: what to hold, what to sell, what to build, and what to pause. Financing still found its way to the right projects, with select luxury developments moving forward, while broader delivery forecasts sparked the familiar blend of optimism and unease in comment sections across LinkedIn. Technology and platforms stayed in motion, and the conversations got spicier. Real estate listings felt more crowded at the table, reminding everyone how quickly markets react when new players enter the chat. Legal headlines also surfaced—vendor disputes, workplace culture conversations, and renewed focus on accountability—pulling attention beyond growth toward governance and trust. Awards season did what it always does: spotlighted excellence and reminded the industry that surviving a hard year is worth celebrating too. Promotions, new brands, service expansions, and fresh chapters appeared daily, reinforcing that multifamily is constantly evolving and constantly rebuilding its bench. Trends matured. AI discussions moved from “look what it can do” to “here’s what’s actually working,” with sharper focus on affordability, ethics, and operational reality. Charts and data played a starring role while practical wisdom cut through the noise: how to prioritize in short weeks, support onsite teams, and protect performance when calendars get choppy. Q4 also confirmed that events never really stop—they just change outfits. As major 2025 gatherings wrapped, early 2026 conversations began including speaker lineups, returning conferences, and expanded platforms for voices not always featured on the main stage. This quarter didn't just close the year. It framed the questions we’re carrying forward: what truly worked, what earned trust, where we overcorrected, and how we measure progress without losing people in the process. We’ll spend more time discussing this in 2026. For now, consider this a little comfort and joy— wrapped up from a quarter that asked us to finish strong, reflect clearly, and step into January with both humility and momentum.

What’s the Why? Join Paul Rhodes Optech Special with Justin Dilley and Eric Sharpe

MRI Software: From Paper to AI Optech Spotlight

LATEST PODS 2025 Wrap Up: All Things MMN 2025 Wrap Up: All Things MMN A Journery Through Rejection

Mike Brewer, Jenn Carter Host: Janet Rosseth

Guest: Crystal Moya Host: Katie Spillers

Guest: Steven Benett Host: Cecilia Cossio

Weaponized Incompetence & Other Crimes We Didn't Commit

The Mission of Entryway

Behind the November Shops

Guest: David Williams

Host: Paul Rhodes, Chris Caramanica, Mark Sharp

Host: Ronald Harrington

Host: Bill Nye

2025 Reflections; a Maintenance Mindset

Recruiting and Hiring in MF

CX from a Decision Makers POV

Guest: Seanne Spangenburg Host: Gabrielle Gonzalez

Host: Paul Rhodes, Mike Brewer, Ronald Harrington

Host: Paul Rhodes

5 Essential Shifts: Moving Real Estate from the “Efficiency Trap” to Real Performance

Stacy Holden Vice President, Industry Principal at AppFolio Inc.

For too long, property management has been caught in an "Efficiency Trap," believing that simply digitizing tasks and working faster are the ultimate measures of success.

Yet, with teams still spending an average of 40% of their time on busy work and only 17% of property managers reporting “winning consistently,” efficiency alone is not solving the fundamental challenge. The future demands a new discipline, a shift from managing tasks to managing outcomes.

Here are the 5 essential shifts defining the next era of real estate:

1. Shift from Task Focus to Strategic Performance The future calls for elevating the property manager to a performance manager. This means moving beyond reactive task completion to a holistic approach – what we at AppFolio call Real Estate Performance Management (RPM). The goal of RPM is twofold: optimizing bottom line efficiency and systematically creating top-line growth.

It redefines winning by measuring human connection and impact, not just sweat equity. Embracing this new discipline begins with a unified platform where data is securely stored, accessed, and activated. We’re making this possible with the AppFolio Performance Platform to redefine what it means to win in property management.

2. Shift from Data Fragmentation to a Unified Truth Slow decisions and conflicting answers have been a big roadblock for property management companies. The solve? A single, unified source of truth that delivers all operational data. In the AppFolio Performance Platform, this takes the form of the System of Record, which arms property managers with personalized insights, recommended next steps, and growth opportunities.

With data centralization, 8 out of 10 property managers who have unified their data report improved performance. AppFolio is strengthening this foundation with increased configurability and deeper capabilities in areas like Student and Affordable Housing, ensuring the system matches the business, not the other way around. 3. Shift from Basic Automation to Agentic AI It's time for technology to genuinely amplify human strengths. While current automation tools are already streamlining millions of tasks, the true leap comes with agentic AI. These are not just automations; they are intelligent systems that can reason, make choices, and adapt when scenarios deviate. These agents can handle complex triage and nuance, taking the monotonous work off a team's plate and allowing them to focus on higher-value activities. You can read more about how agentic operations unlock performance in this article by my colleague Matthew Baird for Multifamily Executive. 4. Shift from Stressful Moments to Moments that Matter There’s a common pain point in our industry. 75% of residents struggle with the move-in process — that's 3 out of 4 people starting their relationship with you frustrated. The right technology can change that, turning high-friction, manual interactions into an opportunity to create lasting value and satisfaction. AppFolio’s reimagined Resident Onboarding experience turns once disparate processes like lease signing, payment, insurance, and utility setup into one simplified, guided flow. And through our new offering with partner Second Nature, we can enable property managers to offer residents highly desired, value-add services such as credit building, pest control, and discounted group-rate internet. This creates a win-win that elevates the resident experience while being a powerful differentiator for you. 5. Shift from Busy Work to Human Connection The ultimate goal of RPM is to free up time for the reason most people entered the industry: building community. When technology handles the complexity, teams can focus on connection. As one of our event attendees Alan Ross, CAM, CAPS put it, “Now our team does things that really matter – connecting with residents, walking properties, making sure the community feels cared for.”

The result is tangible performance: AppFolio customers fully adopting our Performance Platform are achieving real success, with renewal rates up 20% and NOI up nearly 3%.

The greatest barrier to success isn't the technology – it's the willingness to be a learner. The tools are here. The future is waiting. The time has come for the industry to embrace this new era of Real Estate Performance Management.

the best PODCAST

MJ Oommen, EdD

Amy Barricelli

Windell Mollenido

Utilities touch everything: budgets, compliance, resident satisfaction — yet most operators still don’t have clear visibility. The Utility Room is a podcast for multifamily leaders who want practical conversations about energy, sustainability, and operations — from people who actually run buildings, shape policy, and invest in the future of multifamily. No theory. No guilt. Just real insight into saving time, reducing risk, and creating better

outcomes for owners, operators, and residents. It’s a safe space where you’ll walk away with insights you can put into action.. Dropping Early January 2026

Energy CX is a modern energy strategy firm built for volatility. We combine data, technology, and real market expertise to help businesses take control of one of their largest—and most unpredictable—operating costs. With more than 2 billion square feet under management across 20+ deregulated states, we’ve backtested and proven that our strategy consistently outperforms traditional procurement. Powered by ABEL™, our proprietary decision engine, we buy energy with the same discipline and timing as a trading desk—giving companies clarity, stability, and a long-term strategic advantage in every energy decision.

Public Grid helps multifamily operators see what’s normally invisible, simplify sustainability, and create better resident experiences — without adding operational burden. We bring visibility into property and portfolio-level utility usage that’s historically been opaque, give operators ESG and sustainability credit when residents choose greener energy, and make it easy for residents to sign up in just three easy steps — saving money and hours of effort. The result? Happier residents, cleaner data, and smarter decisions — all without changing how you operate your properties. PlugOp is a purpose-built electric vehicle (EV) charging software and solutions company focused on delivering scalable, cost-effective EV charging programs for apartments, condominiums, and other shared parking environments. Our platform combines flexible software with reliable hardware and hands-on support to help property owners, developers, and operators design, deploy, and manage EV charging infrastructure that fits the unique needs of multifamily communities. PlugOp’s mission is to enable seamless access to EV charging for residents and visitors while minimizing installation complexity and electrical infrastructure costs. We emphasize a partnership-first approach, tailored energy management tools, and a resident-centric charging experience that works across property types and layouts.

PROPTECH PULSE Shelley Robinson, MBA

Nikhil shares insights on the four flavors of AI, the importance of a universal data model, and how AI can enhance decision- making and future-proof operations.

Shelley connects with Cat´s journey in technology, the challenges faced by property managers, and the innovative solutions offered by RealmX.

For property managers and owners, this growing challenge can mean the difference between protecting revenue or losing it. But what if technology could tip the scales back in your favor?

Why the Most Successful Communities Are Rethinking Their Pet Policies

Arlene Mayfield Executive Vice President of Sales and Marketing

For years, pet policies in multifamily housing focused on minimizing risk, often by restricting the number, size, or breed of pets to protect communities from potential liability. But the role pets play in our lives has evolved. With over two-thirds of U.S. households now owning a pet, and annual spending averaging $1,500 per household, pets are central to the modern family. 2 Today’s renters see themselves as pet parents, not just owners, and communities recognizing this shift are gaining a clear 1

4 The Performance Impact of Pet-Inclusive Policies Across the country, I’ve seen that pet-inclusive communities are among the strongest performers. Occupancy is higher, retention longer, and ancillary revenue stronger. In 2024, properties implementing pet-inclusive policies through PetScreening’s platform saw over 22% average growth in pet-related revenue. What truly sets these communities apart is their commitment to being pet-responsible and pet-passionate. They are building a structure to protect themselves, their staff, and their bottom lines while adopting policies that welcome more pets. Building Consistency in Pet Management Pet-inclusive policies aren’t a passing trend. They’re a permanent change in rental housing. The most effective implementation strategies I've seen prioritize clarity, consistency, and transparency delivered through a fair, defensible process that protects residents and communities while easing the burden for onsite teams. Now, what was once viewed as an operational challenge is increasingly being treated as a core system, one that reflects how seriously a community takes both compliance and the resident experience. Many operators have turned to centralized pet management platforms that standardize how pets and assistance animals are reviewed and documented. Today, nearly one in seven properties nationwide trusts PetScreening to support compliance and visibility in their pet management process. By applying the same process to every resident, whether they have a pet, an assistance animal, or no animal, operators gain deeper insight into their pet populations and improve policy adoption. advantage. The question is no longer whether to accommodate pets, but how to do so in a way that strengthens performance and resident loyalty.

The Evolution of Pet Policies in Multifamily The future of multifamily is undeniably pet-inclusive, and the critical question for communities is how to accommodate pets in a way that drives real results. By implementing clear, consistent

policies supported by platforms like PetScreening, operators can streamline compliance, enhance resident satisfaction, and strengthen occupancy and retention. The communities that thrive will be those that see pet- inclusivity not as a challenge, but as a strategic advantage for building stronger connections with their residents and resilient, high-performing portfolios.

______________________________________________________________________________________________________ References 1 American Pet Products Association, 2023-2024 2 Pew Research Center, 2023 3 ASPCA.org, 2025 4 PetScreening, The State of Pets in Rental Housing, 2024

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The future of multifamily leasing: Five Proptech predictions shaping 2026 and beyond

The digital transformation of the multifamily sector will intensify in 2026. As more software applications, AI technology, and integrated platforms reshape the way properties are leased and managed, operators and renters alike are experiencing new efficiencies, challenges, and opportunities. In a surprise to no one, AI is the driving force behind what’s next in PropTech innovations for multifamily.

1.Intuitive and fully integrated leasing platforms will become the industry standard Leasing processes are ripe for digital transformation. Industry-wide adoption of intuitive, fully integrated platforms is driving higher applicant conversion, faster leasing cycles, and stronger renter relationships. These end-to-end digital experiences are quickly becoming the norm. According to the 2025 Zipdo report:

65% of residents prefer digital leasing methods over traditional paperwork. 64% already use or plan to adopt virtual leasing offices. 78% of property managers say digital transformation improves operational efficiency.

AI will empower leasing agents, not replace them. Digital processes will help property management teams deliver an intuitive experience that applicants expect, while improving operational efficiency and reducing complexity for leasing agents. 2.Unified technology platforms drive faster, confident decisions The opportunity to boost efficiency and automation in the multifamily sector has given rise to numerous point solutions. These tools often function independently from the broader technology system, which results in siloed data and disjointed workflows. Multifamily organizations need end-to-end solutions that unify their workflow, simplify their tech stack, and in turn, improve the resident experience. The impact of siloed data goes beyond operational inefficiencies – it can lead to expensive mistakes. A national survey by CRETI found 60% of property managers encounter financial discrepancies monthly, and 40% report quarterly mismatches. These costly errors highlight the urgent need for platforms that reconcile data across departments. To achieve real-time data reconciliation and drive scalability, operators will move toward platforms that combine leasing, operations, and financial data. A unified AI-driven experience will provide intelligent insights and analysis for faster, more precise decision-making.

AI’s expanding role is all-inclusive, covering everything from communications to operational data analysis—helping operators avoid manual silos and reduce operational spend.

4. AI is indispensable, but human connection remains key Real estate technology platforms will be defined by their flexibility—enabling multifamily operators to scale without disruption, integrate best-in-class tools freely, and adapt systems in real time as business needs evolve. In the event of an acquisition, a flexible solution will ease the burden of consolidating back-office systems, paving the way for business growth and scale. The plethora of multifamily point solutions available today gives operators the chance to explore different tools and capabilities. However, if the tools don’t integrate with the broader property management system , it can result in a range of inefficiencies, including: MRI Software has integrated Nova Credit’s Income Navigator into its multifamily fraud and applicant screening workflow: AI-driven document fraud detection now verifies income for nearly 100% of applicants, scanning for over 700 fraud indicators and verifying IDs using DMV and National Lookup. This enhancement has enabled MRI clients to reduce paystub review time by 90%. 3. Get (more) serious about fraud prevention AI-powered fraud prevention combined with human oversight will become the industry standard. To proactively protect assets and communities, intelligent workflows that come from human-AI collaboration deliver the best outcomes, combining automation with personalized service. A notable survey by the National Multifamily Housing Council found that 23.8% of eviction filings were tied to fraud or misrepresented application information. Average write-offs approached $4.2 million, and the average cost of evictions has increased significantly—anywhere from $5,000 to $30,000 in some major markets.

Scalability limitations that hinder the addition of new properties to the portfolio Inability to create personalized experiences for properties located in different markets Duplicated effort for property managers and leasing teams working in multiple systems

Multifamily property management systems designed to connect with third-party solutions will help multifamily organizations operate efficiently. Operators can improve efficiency and manage operating costs by streamlining the tech stack. 5. Integration and flexibility are key to growth AI is boosting operational efficiency and customer satisfaction, but in an industry built on relationships, the human touch will become an essential differentiator for multifamily organizations. Properties using both AI and human leasing teams will have an advantage over the competition. AI tools that help draft emails, manage chats, and answer calls will enable onsite staff to focus on providing an outstanding customer experience, resulting in improved resident engagement and retention.

AI can’t replicate the human connection. As the resident lifecycle continues its digital transformation journey, humans will spend more time thinking strategically and handling complex situations while AI handles the mundane tasks.

What this means for the future of multifamily The multifamily industry is at a crossroads—the future belongs to those who embrace technology innovation without losing sight of the human touch. By leveraging AI, integrated platforms, and flexible tech stacks, multifamily leaders can quickly capitalize on opportunities and make operational pivots, protecting NOI and positioning the business for success in 2026 and beyond.