Record Low Resident Turnover
Resident turnover was reported at only 7.9%, setting a record for the lowest ever reported by the company.
Strong Occupancy Rates
Occupancy was reported at 96.5% across the portfolio, with specific highlights in New York and Washington, D.C., and improvements in Seattle and San Francisco.
Stable Financial Health of Residents
Average household income of new residents increased, and rent-to-income ratios remained favorable at 20%.
San Francisco Market Improvement
San Francisco showed strong momentum with stable high occupancy, declining concessions, and increasing base rents.
Expansion of AI and Automation
The company is expanding deployment of its conversational AI capabilities across the leasing journey, aiming to improve efficiency and customer experience.