What's shaping housing in 2026: Investors, renters & regulators

Hey there,

I hope you had a great weekend!

Every other Monday, I send out a roundup of the most relevant multifamily news and insights, curated from the perspective of both an operator and a passive investor.

Here's what stood out to me this week

Renting is shedding its "temporary" reputation; nearly half of Americans surveyed say long-term renting is more socially acceptable today than it was ten years ago, and 46% now view renting in a positive light. Affordability is a big driver, with 56% of respondents saying they simply can't afford a down payment or mortgage, but it's not the whole story. Across generations, renters are increasingly choosing to rent on their own terms, valuing predictable costs and hassle-free maintenance above almost everything else. Younger renters, particularly Gen Z, are drawn to flexibility and speed, while older renters prioritize stability and support. The takeaway for operators is clear: renters today expect a seamless, responsive experience, because for a growing number of households, renting isn't a pit stop on the way to ownership, it's simply home.

The U.S. Senate passed what many are calling the most significant federal housing legislation in a generation - the 21st Century Road to Housing Act - with a sweeping 89-10 bipartisan vote. The bill aims to address the housing shortage through several fronts: allowing banks to direct more capital toward affordable housing projects, streamlining environmental reviews to speed up development, incentivizing local zoning reform, and expanding financing options for manufactured housing. The sticking point heading into negotiations with the House is a provision that would require build-to-rent developers to sell their units within seven years, something major real estate lobbying groups are fighting hard to strip out, arguing it would actually make the housing crisis worse.

The White House pushed for that BTR restriction after the House passed its version without it, and the two chambers will need to reconcile their differences before anything reaches the president's desk. Despite the controversy, affordable housing advocates are largely celebrating the bill, with one housing law expert calling it a meaningful federal intervention after years of Congress sitting on the sidelines while Americans struggled with affordability.

The FTC is taking another swing at rental "junk fees," opening a public comment period on whether to require landlords to advertise the true all-in cost of renting rather than burying mandatory charges in the fine print. The timing is notable. With national apartment vacancy sitting at 8.6% and rent growth nearly flat at 0.4% year-over-year, landlords have been leaning on add-on fees for utilities, amenities, and services to shore up revenue as operating costs remain roughly 40% above pre-pandemic levels.

Renters are feeling it: 60% of those surveyed by Zillow in 2025 paid at least one additional fee on top of their base rent. The apartment industry, led by the National Apartment Association, is pushing back, arguing that existing state laws make a federal rule unnecessary and that fees are already disclosed throughout the leasing process - a claim consumer advocates strongly dispute. Public comments are due to the FTC by April 13, and if a rule with real enforcement mechanisms moves forward, the industry fight is expected to be fierce.

In this solo episode, I break down five highly actionable leasing strategies that can have an immediate impact on your property’s performance. These are simple, practical tactics that I’ve seen work across different portfolios; whether you’re self-managing, working with a third-party manager, or running your own in-house team. The goal here is straightforward: reduce vacancy, increase your rent roll, and ultimately drive stronger NOI without overcomplicating your operations.

I walk through how to use staggered lease expirations to avoid getting caught in slow leasing seasons, why resident referral programs can be one of the highest-ROI initiatives you implement, and how to be more intentional about generating online reviews. I also cover how to structure concessions in a way that drives conversions without hurting your long-term rent growth, and how to think about renewals to improve retention. If you’re looking for practical ways to tighten up your leasing strategy, this episode is packed with ideas you can implement right away.

You can also listen to this episode on Spotify.

For this week’s business update, I wanted to highlight the one-year anniversary of a deal that perfectly reflects the type of opportunities we’re focused on.

In March of last year, we closed on 26 High Street in Derry, NH, an eight-unit property that we sourced off-market through a broker relationship. At the time of acquisition, the property was under-managed, with several units in poor condition and total monthly rents sitting at $8,435.

Over the first five months of ownership, we invested roughly $60,000 into renovations, turning units and leasing them at market rents. Within eight months, we had completed the majority of the value-add work and brought the property to stabilization. As of the end of last month, total rents have increased to $13,725 per month, reflecting the impact of both renovations and improved management.

Just as importantly, we began the refinance process about six months into the deal and were able to complete it within eight months of closing—returning approximately 80% of the original invested capital back to investors. This is what we consider a “home run” outcome, and it’s exactly the type of deal we’re continuing to source and execute on across our portfolio in New Hampshire.

If you’re enjoying the newsletter, the best way to support it is simple: share it with someone who’d find it valuable—another investor, operator, or anyone looking to learn more about multifamily real estate. Your word of mouth makes a huge difference.

Software we use to run our real estate business:

Note: Some of the links above are affiliate links.