- Multifamily operators are leaning into fee transparency and concessions to build trust and attract renters amid increased federal oversight and legal pressure.
- Leasing professionals say concessions — like free rent — are now a baseline strategy, especially in competitive markets like Charlotte.
- Ongoing federal investigations, including an antitrust lawsuit involving RealPage and major operators, are reshaping how companies price units and gather market intelligence.
- Fraudulent leasing applications remain a growing challenge, prompting more investment in identity verification and fraud-detection tools, which are increasing operational costs.
A New Leasing Playbook
At the InterFace Carolinas Multifamily conference in Charlotte, industry leaders outlined how operators are adapting to a changed rental environment, reports REBusinessOnline. In today’s market, regulatory compliance, transparency, and flexibility are non-negotiable. The event highlighted how the Federal Trade Commission’s recent rule banning “junk fees” is trickling down into housing, pushing landlords to adopt more transparent pricing practices.
“Renters want clarity from day one,” said Sherry Yarborough, Southeast multifamily director at Drucker + Falk. “They don’t want surprise trash fees on move-in day.”
Federal Pressure Is Changing Behavior
January’s amended DOJ lawsuit against RealPage and six major multifamily property firms — which collectively manage over 1.3M US apartments — has forced companies to rethink how they price units. One key shift: many are now avoiding market surveys to dodge perceptions of price collusion.
“We’re having to work in a vacuum more than ever,” said Becky Ross, property management director at RangeWater Real Estate.
Get Smarter about what matters in CRE
Stay ahead of trends in commercial real estate with CRE Daily – the free newsletter delivering everything you need to start your day in just 5-minutes
Concessions Are The New Normal
Rent specials — particularly free rent — have become an industry standard in the current leasing cycle. While rent hikes dominated in 2021–2022, operators now use concessions as essential tools to fill units and prepare for stronger demand in late 2025 or early 2026.
“Concessions have been the expectation for so long,” Ross added. “Right now, they’re the baseline.”
Fraud Adds New Costs
As application fraud rises, multifamily operators are investing in tech to vet applicants more rigorously. Social media has enabled would-be renters to share tips on faking documents, making detection harder.
“If you go on TikTok, there are tutorials on how to bypass ID checks,” warned John DeMario, regional VP at RKW Residential.
Yarborough emphasized that digital screening tools let property managers focus on leasing rather than playing detective — but they come at a cost. These added expenses are pushing management companies to adjust rents to offset fraud-related losses.
What’s Ahead
Despite ongoing headwinds — from new deliveries in cities like Charlotte to rent trade-outs trending negative — panelists remain cautiously optimistic. New construction is slowing, setting the stage for more stability by late 2026.
“There’s a sightline to brighter days,” said DeMario.
Why It Matters
With regulatory pressure rising and renters expecting more transparency and value, multifamily operators must rethink traditional leasing strategies. Those who adapt with clarity, technology, and strategic concessions are more likely to retain tenants and maintain NOI in an increasingly competitive market.
