By Steve Zaleski, Assurified
Image Source: National Multifamily Housing Council
Having attended NMHC events for many years, I found this year’s Spring Meeting in Chicago to be thoughtful and relevant, with a strong emphasis on the current challenges and trends shaping rental housing. The discussions were substantive, and there was a clear effort to address practical solutions – from capital market pressures to evolving workforce housing needs.
Workforce housing was the primary focus of this event. From financing and preservation to onsite operations, nearly every discussion reflected the growing need for targeted solutions in this segment of the market.
One of the most talked-about sessions was the deep dive into capital markets and investor sentiment. I had several side conversations afterward that echoed what panelists from Yardi Matrix, CBRE, and Kayne Anderson were saying on stage: capital is still flowing, but it’s more cautious and looking for sharper strategy and clearer ROI. Deals are harder to pencil, but long-term confidence in rental housing—especially workforce housing—is holding firm. Some owners and operators are taking advantage of tough market conditions to buy out in-process builds at a discount.
Workforce housing took center stage in nearly every session I attended. I appreciated the honest exchanges in sessions focused on private capital, public incentives, and preservation efforts. Conversations around employer-backed housing partnerships felt more practical and actionable this year—less theory, more emphasis on real-world examples and outcomes.
A key theme echoed by several attendees was that housing affordability is decreasing -- leading more prospective buyers to remain renters longer than in the past. Average renter age is increasing, and renewal rates are rising as renters are focused on stability in unstable times.
The new NMHC research presented on regulatory impact brought data to what many of us already feel on the ground. Delays, zoning hurdles, and permitting inefficiencies continue to drive up costs and reduce the feasibility of even moderately priced developments. The findings from MetroSight were sobering, and they reinforced what many developers in the room were saying quietly between sessions: we need coordinated policy reform if we’re serious about addressing supply.
Several panels explored how operators are using AI, modular construction, and data analytics to drive efficiency without sacrificing livability. These weren’t just tech showcases—they were grounded discussions about operational pain points, resident experience, and replicable models.
AI was widely discussed not as a tool for headcount reduction, but as a way to enhance capabilities and streamline operations across the board. They’re seeing AI used to reduce repetitive analyst tasks, drive analysis of architecture for new builds, and level 1 responses of renter queries.
Other operational themes included centralization of leasing and management tasks—either remotely or in centralized hubs—for greater efficiency and job satisfaction. Centralization also improves collections, policy compliance, and career paths for local employees, but the change management required is significant—and often described as “brutal.” Interestingly, co-working spaces and “lifestyle” amenities like golf simulators were called out as having low utilization and little impact on occupancy.
Additional takeaways included strategies to reduce leasing costs and accelerate resident move-ins, boost onsite security and safety, and build greater community “impact” to foster resident inclusion.
Fraud detection and risk mitigation were also discussed—important topics for us at Assurified. Also notable: while property insurance rates have leveled, liability rates are reportedly “going through the roof.”
The executive panel - featuring leaders from organizations including BH, Trammell Crow Residential, GID, Waterton and Avenue 5 - struck a chord. Hearing how they’re balancing rising costs, capital pressure, and the political scrutiny that comes with workforce housing was both sobering and inspiring. As someone who’s sat in similar roles, I appreciated the transparency they brought to those tough trade-offs between performance and purpose.
In addition to the main sessions, the meeting also featured timely research briefings on rental assistance programs, tax-based housing incentives, and legislative strategy. The closing roundtable on shaping the future of workforce housing emphasized public-private collaboration, with attendees surfacing bold ideas to inform NMHC’s policy agenda. And of course, the informal moments—from the opening reception to the boat tour—provided time to exchange ideas and reconnect with industry peers in meaningful ways.
This year’s Spring Meeting was more than just a touchpoint—it was a reminder that our industry is evolving in real time. At Assurified, we’re proud to be part of the solution, helping rental housing owners and operators reduce risk and unlock operating efficiencies through smarter, AI-powered risk management solutions.
Thanks again to NMHC for creating the space for these conversations—and to everyone I had the chance to speak with in Chicago. I look forward to continuing the dialogue in the months ahead.
If these challenges resonate with you or you’re looking to improve risk performance and operating efficiency, I’d welcome the chance to connect. Feel free to reach out via LinkedIn or contact us through the Assurified website.