With average occupancy and apartment demand both declining in the first quarter, top-level talent on site is even more important. In this edition of the Top 5 series, the most active markets for property manager turnover are listed. Overall, turnover activity has been much higher in the first three months of 2022 than in the same period last year. ALN logged just more than 11,000 manager changes in the quarter – about 60% more than in Q1 2021.

Of course, total manager changes is not the only metric to use when evaluating turnover. In the table below, the top five markets among ALN Tier One markets, the 33 largest multifamily markets in the US, are listed with the rank based on the percentage of total properties in the market represented by the manager changes. For most of the areas on the list, Q1 2022 saw an increase in turnover activity.

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