AIM 2025: Rethinking Renting

Rethinking Renting: Leveraging Flexible Living to Attract and Retain Residents

What Uber did to transportation and Airbnb did to travel, flexible living is doing to multifamily. That’s the energy these speakers brought to the conversation—a vision of renting that’s not rigid, but adaptable, experiential, and yes, even exciting. This was more than just a panel about new lease structures—it was a challenge to reimagine what it means to live in a rental home in a world that expects convenience, choice, and personalization.

Melanie Rodriguez, Kyra Lambo, Mackenna Mullins, Jenelle Shapiro, and Laura Srankovic explored how flexible living models—from short-term rentals to amenity sharing to co-living—are not only responding to resident demand but helping operators drive revenue, boost retention, and differentiate in a crowded marketplace. Flexible living, they explained, is no longer a niche experiment. It’s a viable strategy with measurable results.

The conversation opened with data from large-scale resident surveys showing overwhelming interest in flexible lease terms and alternative living models. One company found that 70% of respondents wanted more flexibility in leasing and move-in timing. More surprisingly, 50% said they’d be willing to pay $500 upfront for that flexibility. This wasn't just theoretical curiosity—residents are actively valuing adaptability as part of their rental experience.

Amenity sharing emerged as a standout success story. Panelists described programs where residents at one property could access the pools, coworking lounges, or fitness centers at nearby sister communities. What began as a pilot quickly expanded to multiple markets, with thousands of residents opting in. Anecdotally, residents who enrolled in these programs showed higher retention rates, though the panel acknowledged that other factors could also contribute.

Third-party managers shared how they adapted flexible models even within client constraints. For example, properties under the same ownership but in close proximity hosted joint events and allowed amenity access between communities. This not only enriched the resident experience but also boosted online reviews and testimonials, ultimately feeding into stronger retention metrics. The logistical challenges—access systems, communication protocols, and staff training—were real, but manageable with clear guidelines and strong messaging.

Co-living also took center stage, especially from the perspective of national operators. The concept of shared apartments with individual leases and bundled services was framed as a modern solution for urban affordability and community engagement. Panelists emphasized that this model appeals not only to students and young professionals but also to digital nomads and those seeking short-term transitions. For management, co-living brings operational complexity—but it also maximizes space utilization and expands market reach.

Another key focus was resident hosting via Airbnb and similar platforms. Companies are experimenting with programs that allow residents to rent out their units while they’re away—creating both lifestyle benefits for residents and revenue-sharing opportunities for operators. While this approach requires thoughtful oversight, including compliance and community standards, it represents a creative way to align with evolving consumer expectations.

Communication surfaced repeatedly as a critical success factor. Whether rolling out flexible rent schedules or launching new amenity programs, panelists stressed the importance of clarity, education, and internal alignment. Teams needed to be trained, systems updated, and messaging fine-tuned to prevent confusion and ensure adoption. The best programs weren’t just operationally sound—they were well-branded and well-explained.

The panel also cautioned against launching programs in a vacuum. Resident input and data should guide every decision. Surveys, pilot tests, and feedback loops ensure that new offerings address real needs rather than hypothetical use cases. Several panelists shared how early missteps—like rolling out amenity sharing during the early days of the pandemic—helped refine their strategies for future launches.

Ultimately, the panel made it clear that flexible living isn’t just a trend—it’s an expectation. Today’s renters want options. They want to work remotely, travel frequently, and live in ways that align with their life stages. The industry’s response must be as flexible as the lifestyles it hopes to serve.

This session offered more than a glimpse into the future of multifamily. It delivered a blueprint for innovation—rooted in resident insights, operational adaptability, and a willingness to challenge conventional models of leasing. The result isn’t just happier residents—it’s stronger performance and a competitive edge that grows with every lease.