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A couple of weeks ago, NMHC released its annual lists of the top 50 multifamily owners and developers. As usual, the lists provide an excellent touchpoint on the state of our industry. This year's lists disclose something interesting about a changing industry structure.Conveniently, this observation provides excellent context for a panel I am helping to prepare for next week's AIM conference: "Design, Collaboration and BizDev: The New PropTech Ve ...

Gerry Hunt

Brent Williams It seems to me that the power balance between the independent owners who are not also operators and their 3rd party managers is going to tip towards the managers over time. I could be wrong, but in order to stay competitive with centralization, a streamlined integration across entire 3rd party portfolios is going to become even more important. As for owner-operators, it wouldn't surprise me to see that trend reversed and them to increase consolidation in this space. Centralization just has the inevitability of consolidations in one way or another, and I think the days of massive fragmentation of our industry are dwindling.

Guest Insider I think the lending conditions have mostly determined how the industry has changed. Over the last decade, the supply of cheap money has brought many more and smaller companies into the industry, which is a great thing!

Third party managers aren't really a force for standardization. They will not usually risk a management contract based on tech preferences. Remember also that so much tech involves connectivity in specific properties. Third party managers don't control that. So I think fragmentation will probably be with us for the foreseeable...

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