Multifamily Unpacked

What happens when two competitors decide to work together? For Funnel and Realpage, it starts with listening to the operators who use both. In this episode of Multifamily Unpacked, Funnel CEO Tyler Christiansen sits down with Realpage CEO Dirk Wakeham to talk about the newly-announced historic partnership, why customer choice matters, and what it takes to build trust across multifamily technology. You’ll hear: — Why shared customers helped inspire the Funnel x Realpage partnership — How Realpage’s MCP connector helps operators use their data with AI tools of their choice — The technical, commercial, and strategic considerations behind integrations — Why security and governance matter as AI agents gain access to sensitive data — What a more renter-centric future could look like—and why human judgment still matters If you enjoyed this conversation, join us at Forum 2027: The conversation continues in Austin, April 5–7. Early bird registration is open. https://funnelleasing.com/events/forum

In this episode of Multifamily Unpacked, I sit down with Ryan Smidt, CEO and co-founder of Clay Residential, to explore the evolving landscape of build-to-rent communities. Drawing from his extensive experience at BlackRock, Ryan shares insights into how Clay Residential sets itself apart by focusing on larger homes and community-scale operations. We discuss the unique model that allows individual investors to own homes within professionally managed rental communities, highlighting the importance of quality property management and resident experience. Tune in to learn how this innovative approach addresses current market challenges and anticipates the shift toward long-term renting in the multifamily sector.

What does it take to build a multifamily company that can operate at scale without sacrificing agility, culture, or the resident experience? In this episode of Multifamily Unpacked, Tyler Christiansen, CEO of Funnel, sits down with Alex Jessett, CEO of Camden Property Trust, at Camden’s Houston office. They discuss how Camden’s centralized operating model supports innovation, and why a recognizable brand creates lasting value for residents, team members, and shareholders. Jessett also shares how Camden approaches change management, builds trust during periods of technological transformation, and helps team members understand the connection between their daily work and the company’s financial performance. In this episode — How Camden balances the stability of scale with the ability to remain nimble — The role market density plays in referrals and resident retention — Why approximately 7% of Camden residents have previously lived at another Camden community — How the Camden brand and hummingbird identity reinforce a sense of home — Why putting Camden’s name on every community creates pride and accountability — How centralization has affected team member tenure and morale — Why successful change management starts with the people closest to the problem — How Camden communicates financial performance to team members — What renter-centricity means from an owner and operator’s perspective — Why happy team members are a value Camden refuses to compromise

Multifamily faced years of flat rents, elevated supply and rising costs—but is the market finally starting to turn? Tyler Christiansen, CEO of Funnel Leasing, sits down with housing economist and The Rent Roll host Jay Parsons to unpack what’s happening across rental housing and what operators should expect next. They explore why development is becoming even more difficult, where rent growth could return first and why the next cycle will create clear winners and losers. They also discuss: Why scale is becoming essential for developers How lower supply could reshape rent growth Whether multifamily has become too reliant on concessions What renter health data actually tells us Why demand remains strong despite sluggish rents The growing regulatory pressure facing operators Where AI and centralization can—and can’t—reduce costs Why Jay remains optimistic about multifamily’s future Plus, Jay shares the thinking behind his new podcast, The Guest Card.

In this episode of Multifamily Unpacked, Tyler Christiansen, CEO of Funnel, sits down with Alex Jessett, CEO of Camden Property Trust, to discuss the company’s approach to artificial intelligence (AI). Jessett explains why multifamily may be difficult to disrupt, but is still full of opportunities for AI to improve the resident and team member experience. For Camden, the goal isn’t to remove people from the leasing journey. It’s to automate mundane work, help team members perform at their best, and give customers the freedom to interact with Camden in the way they prefer. The conversation explores Camden’s early investment in Funnel’s AI (now called Fenix), how the company evaluates the return on new technology, and why AI’s value extends far beyond reducing labor costs. Jessett also shares Camden’s “leadership, crowd, and lab” framework for developing scalable AI use cases, and explains why culture will ultimately be the company’s greatest competitive advantage. In this episode — Why multifamily is more resistant to disruption than other real estate sectors — The importance of maintaining trust and human connection in the resident experience — How technology can complement—not replace—onsite team members — Why Camden invested in AI before the rise of generative AI What Gen Z’s preferences reveal about the continued value of human interaction — How Camden balances self-service options with personalized service — Why the ROI of AI shouldn’t be measured solely through headcount reduction — Opportunities for AI across renewals, maintenance, insurance, and other operating areas — Camden’s “leadership, crowd, and lab” approach to AI experimentation — How happy team members lead to happy customers—and ultimately happy shareholders — Why culture, rather than any individual technology, is the real differentiator About the guest Prior to his current position as Chief Executive Officer, Alex Jessett served as Camden's President and Chief Financial Officer, responsible for Finance, Capital Markets, Real Estate Investments, Construction, Accounting, Operations, and all Operations-related teams. Since joining Camden in 1999, Alex has held various roles and has been responsible for over $25 billion of debt and equity issuances and structured real estate transactions. Before joining Camden, Alex began his career in real estate at Comerica Bank of Texas in the Real Estate Lending department.