The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Neil Lawrence Malkin - Capital One Securities, Inc., Research Division - Analyst
: Another great quarter. First one, you touched on it, I think, Alex, about the way that you're staffing and serving the communities.
Can you just give some more color on that. It kind of seems like everyone or just your peers are shifting to like the next generation
of sort of operations. Again, just if you could give some examples or sort of it sounds like you're [potting] your sort of clusters of
assets to reduce your OpEx load. If you can just give some elaborate on that, kind of how you see that going forward over the next
24 months, that would be great.
Question: Neil Lawrence Malkin - Capital One Securities, Inc., Research Division - Analyst
: Yes. No, that's great. Other one for me is related to, I guess, renewals. I think renewals are, I think, across the board, I think, stronger
compared to what management teams and what we thought would kind of look like. Obviously, the turnover is historically low. And
because you don't push as hard on those versus new leases, you have quite a bit of loss to lease built up.
And so I'm just wondering, I would like you to discuss how you think about renewals through '22 and even into '23, just given the
sort of low turnover environment people willing to take these prices. How do you think that stacks up for pricing power over the
next several quarters?
Question: Bradley Barrett Heffern - RBC Capital Markets, Research Division - Analyst
:
Question: Bradley Barrett Heffern - RBC Capital Markets, Research Division - Analyst
: Okay. Got it. And then any update on where rent income stands currently?
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