Inside the Multifamily Squeeze: Political Risk, AI & Operations in 2026 | TRD Roundtable

In the latest TRD Roundtable, made possible by Amazon Key, The Real Deal editor-in-chief Stuart Elliott leads a candid conversation with top operators, asset managers, and owners about what’s really happening in multifamily—from New York’s regulatory crunch to Sun Belt growth and AI-driven building operations. He's joined by Mark Kotler, President of FirstService Residential, Ken Greene, CEO of AKAM, Melody Garcia, Executive Director at JPMorgan Chase Asset Management and Joe Lubeck, CEO of American Landmark Apartments. What You’ll Learn: Political risk & regulation: –How New York’s leftward shift and figures like Mamdani could impact landlords, taxes, insurance, and rent policy –The “law of unintended consequences” in legislation like the pied-à-terre tax and local compliance rules –Federal and state housing policy –The 20-First Century Road to Housing Act and whether it will actually make it easier to build –How Florida’s Live Local Act became a model for pro-housing, pro-density policy –Texas’ PFC/HFC structures, bad actors, and why that market is now “frozen” until 2027 Market outlook by region: –Northeast vs Sun Belt vs California vs Midwest: where capital is going and why –Are we too late to the Midwest trade, or is there still value? –How job and population growth in the Sun Belt is offsetting oversupply headlines AI & technology in property management: –How AI is cutting call volume and boosting response times –How operators are using AI for maintenance, collections and resident communication (in multiple languages) –Resident “concierge” experiences and building communication –Why AI is not about cutting labor—but about freeing staff to actually manage communities Operations, labor & insurance: –Rising labor costs and how large managers use scale to save buildings money on services and insurance –Why insurance premiums and lack of tort reform are becoming a major expense driver –The real reasons residents move out—and how service and maintenance speed are make-or-break Office-to-resi conversions & taxes: –How developers are rethinking office-to-residential conversions –Boards, group dynamics, and why dysfunctional boards can sink a great building –How boards and owners are fighting real estate tax assessments with certiorari attorneys and fee-only appeal strategies This conversation was made possible by a sponsorship from Amazon Key.