2026 Multifamily Leadership Series: Brenda Barrett, Apartment Management Consultants
For the fourth year of our annual Leadership Series, Connect CRE has focused on the apartment sector. We invited 18 multifamily heavyweights to provide their unfiltered views of the current market, its challenges and opportunities. The insights of these power players have been collected in a downloadable report, and we’re also presenting them individually, in alphabetical order. The roster begins with Brenda Barrett, CEO of Salt Lake City-based Apartment Management Consultants, which ranked fifth on the National Multifamily Housing Council (NMHC) Top 50 Property Managers list for 2026.
Will rising gas prices and inflation affect development?
Any rise in inflation and gas prices will inevitably impact the price of building materials and contractor expenses. This, in turn, will drive up the cost of construction in general. Because of this, budgets for any new multifamily development will face this additional challenge and will need to account for and address it.
Absorption has increased this year. Is that due to a slowdown in development or other factors?
The apartments sector is still adjusting to a major surge in new supply that began to come to market a couple years ago. However, the pace of new construction has since slowed down and allowed for that supply to continue to be absorbed. In addition to the marked slowdown in new construction, there’s another factor helping with absorption. Homeownership remains out of reach for many Americans, keeping a greater number of households in rentals longer and keeping rental demand steady.
Will we see an increase or decrease in rent prices this year?
Rents in the apartments arena are generally flat. However, it is important to note there is variation in rent growth across markets. Some have recorded negative rent growth in recent years, while others have seen slight rent rate growth over the same period. There are early indications of some stabilization; however the primary drag on rent growth remains that recent surge in new supply, with a good portion of it still needing to be leased up.
Lower-income households spend more of their income on paying rent. Where does a solution lie?
It is true that research demonstrates a concerning trend toward an increased amount of income being allocated toward monthly rent and utilities. This is especially pronounced with households bringing in lower incomes; all 50 states are impacted. Unfortunately, wage growth for years has consistently failed to keep pace with inflation and rent growth. Compounding the issue further is that there simply isn’t enough supply of affordable rental units in any state for lower wage earners. Building more supply seems like an easy answer, but that is far from the case. There are so many hurdles to it, including cost of labor and construction, along with a lack of incentives, NIMBYism and more.
Unfortunately, tackling this issue will require numerous solutions, both public and private, and including tax and development incentives, legislation that favors affordable housing, finance availability, and more for meaningful change. The good news is that the issue is now top-of-mind among industry participants, legislators and consumers alike. Hopefully, this will bring positive momentum toward solutions.
Give your young self some advice.
I wouldn’t change the work ethic; that’s what created the opportunities. But looking back, I would have liked to have invested earlier in relationships, because long-term success isn’t just about what you build, but who you build it with. Strong relationships, especially with peers and trusted vendors, lead to invaluable partnerships that help solve problems and get things done.
The conversations behind tomorrow’s apartment deals happen at Connect Apartments on September 22 in LA. Connect with the capital sources, owners, developers, and brokers driving multifamily investment. Learn more and reserve your seat at www.connectapts2026.com.
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