Korman Communities’ Lea Anne Welsh on why renting by choice is rising across all age groups in this podcast with MHN’s Laura Valean.
With nearly 40 properties in the U.S. and the U.K., Korman Communities—now in its fifth generation of family ownership—has long been at the forefront of lifestyle-driven rental housing. Across its communities, the share of renters by choice continues to climb, spanning young professionals, mid-career movers and a rapidly growing demographic of downsizers.
In this episode of Mission Success: Women in Multifamily, Multi-Housing News Senior Editor Laura Valean sits down with Lea Anne Welsh, COO of Korman Communities and president of its high-end AVE brand, to explore how the American Dream has changed.
“People want choice, they want flexibility and they want a lifestyle,” Welsh said during the podcast, noting that residents increasingly prioritize community, convenience and service over the obligations of homeownership.
Welsh shares stories from the field and breaks down the emotional, practical and financial factors driving this shift.
She also discusses the design and amenity strategies that appeal to both downsizers and first-time renters, the role of hospitality in shaping the resident experience, and why empathy has become a core leadership value within Korman Communities.
Here’s what else she talks about in this episode:
- (1:07) Defining the “new American Dream” in today’s housing landscape
- (3:49) Factors driving people to choose renting over homeownership
- (5:53) Is the trend visible across all income levels?
- (9:47) What are downsizers seeking?
- (14:10) Market properties to appeal to downsizers vs. first-time renters
- (16:17) Emotional and psychological aspects of downsizing
- (18:20) How the multifamily industry is responding to downsizing
- (20:22) The role of flexible lease terms and co-living arrangements
- (23:25) Staying ahead of changing renter expectations
- (25:08) Navigating shifts in renter mindset
- (27:18) What Welsh learned from her renters
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