Ep. 49 | Operating Costs Up 40% and Counting: The Math Nobody Wants to Talk About

In this episode, Kerri Davis, CEO and Founder of Fortress, sits down with David Lynd, CEO of The Lynd Company, for a candid, no-nonsense conversation about operational discipline, leadership through adversity, and the hard truths shaping the future of multifamily. Listen in to hear David:

• Share how growing up working on apartment sites—from digging sewer lines to running properties—shaped his relentless, data-driven approach to operations and why property management became the most challenging and rewarding work of his career
• Break down why operating expenses have surged more than 40% since 2019, why rents haven’t kept pace, and how technology, amenities, and herd mentality have quietly eroded value instead of creating it
• Reflect on leadership, culture, and accountability—from building teams that thrive under pressure to redefining work environments that prioritize performance, trust, and long-term sustainability in one of the toughest market cycles multifamily has ever faced