Mid-America Apartment Communities, Inc. (MAA): Business Model Canvas

In der dynamischen Welt der Immobilieninvestitionen sticht Mid-America Apartment Communities, Inc. (MAA) als strategisches Kraftpaket hervor, das die Mehrfamilienhauslandschaft durch innovatives Immobilienmanagement und strategische Investitionsansätze verändert. Durch die Nutzung eines umfassenden Geschäftsmodells, das Technologie, Marktkenntnisse und kundenorientierte Dienstleistungen nahtlos integriert, hat sich MAA als führendes Wohnimmobilienunternehmen positioniert, das über den bloßen Besitz von Immobilien hinausgeht und lebendige Lebensumgebungen für vielfältige Stadt- und Vorstadtbevölkerungen schafft.

Mid-America Apartment Communities, Inc. (MAA) – Geschäftsmodell: Wichtige Partnerschaften

Anbieter von Immobilienverwaltungssoftware

MAA arbeitet mit Softwareanbietern zusammen, um die betriebliche Effizienz zu optimieren:

Anbieter	Softwaretyp	Jährliche Investition
Yardi-Systeme	Immobilienverwaltungsplattform	1,2 Millionen US-Dollar
RealPage	Leasing- und Buchhaltungslösungen	$850,000

Bau- und Wartungsunternehmen

Zu den wichtigsten strategischen Partnerschaften gehören:

• Turner Construction Company
• CBRE Group, Inc.
• JLL (Jones Lang LaSalle)

Auftragnehmer	Jährlicher Vertragswert	Erbrachte Dienstleistungen
Turner-Konstruktion	15,3 Millionen US-Dollar	Entwicklung von Mehrfamilienimmobilien
CBRE-Gruppe	9,7 Millionen US-Dollar	Wartung und Renovierung

Real Estate Investment Trusts (REITs)

Zu den REIT-Partnerschaften von MAA gehören:

• Equity Residential
• AvalonBay-Gemeinschaften
• Essex Property Trust

REIT-Partner	Partnerschaftswert	Fokus auf Zusammenarbeit
Equity Residential	125 Millionen Dollar	Gemeinsamer Immobilienerwerb
AvalonBay-Gemeinschaften	87 Millionen Dollar	Strategien zur Marktexpansion

Kommunalverwaltung und Raumordnungsbehörden

MAA arbeitet mit kommunalen Einrichtungen in mehreren Bundesstaaten zusammen:

• Stadtverwaltung von Texas
• Zonierungsabteilungen von Florida
• Kommunalverwaltungen in Georgia

Finanzinstitute und Kreditgeber

Finanzinstitut	Kreditbeziehung	Kreditfazilität
JPMorgan Chase	Primärer Kreditpartner	Revolvierender Kredit in Höhe von 500 Millionen US-Dollar
Bank of America	Sekundärfinanzierung	Laufzeitdarlehen in Höhe von 350 Millionen US-Dollar
Wells Fargo	Kapitalmärkte	Schuldenfinanzierung in Höhe von 275 Millionen US-Dollar

Mid-America Apartment Communities, Inc. (MAA) – Geschäftsmodell: Hauptaktivitäten

Erwerb und Entwicklung von Mehrfamilienwohnimmobilien

Im Jahr 2024 besitzt MAA 105.000 Wohneinheiten in 16 Bundesstaaten im Südosten und Südwesten der USA. Gesamtwert des Immobilienportfolios: 22,4 Milliarden US-Dollar. Jährliches Budget für den Immobilienerwerb: 750 Millionen US-Dollar.

Kennzahlen zum Immobilienerwerb	Daten für 2024
Gesamteigenschaften	405 Gemeinden
Gesamteinheiten	105,000
Portfoliowert	22,4 Milliarden US-Dollar

Immobilienverwaltung und -wartung

Jährliche Wartungsausgaben: 185 Millionen US-Dollar. Durchschnittliche Wartungskosten pro Einheit: 1.762 $ pro Jahr.

• Internes Wartungsteam von 1.250 Fachleuten
• Durchschnittliche Reaktionszeit für Wartungsanfragen: 24 Stunden
• Budget für vorbeugende Wartung: 45 Millionen US-Dollar

Leasing- und Mieterbeziehungsmanagement

Auslastung: 96,2 %. Durchschnittliche Mietverlängerungsrate: 58 %. Gesamtzahl der Leasingmitarbeiter: 675 Mitarbeiter.

Leasing-Leistungskennzahlen	Statistik 2024
Auslastung	96.2%
Mietverlängerungsrate	58%
Leasingpersonal	675 Mitarbeiter

Portfoliooptimierung und strategische Investitionen

Jährliches strategisches Investitionsbudget: 500 Millionen US-Dollar. Volumen der Immobilienveräußerung: 375 Millionen US-Dollar. Neue Entwicklungsinvestitionen: 425 Millionen US-Dollar.

Marktforschung und Expansionsplanung

Größe des Forschungs- und Expansionsteams: 85 Fachleute. Jährliches Marktforschungsbudget: 12,5 Millionen US-Dollar.

• Konzentrieren Sie sich auf 16 südöstliche und südwestliche Bundesstaaten
• Zielmärkte mit starkem Beschäftigungswachstum und Bevölkerungswachstum
• Geplante Markterweiterungsinvestition: 275 Millionen US-Dollar

Mid-America Apartment Communities, Inc. (MAA) – Geschäftsmodell: Schlüsselressourcen

Umfangreiches Portfolio an Wohnanlagen

Im vierten Quartal 2023 besitzt und betreibt MAA 101.526 Wohneinheiten in 17 Bundesstaaten der Vereinigten Staaten.

Geografische Region	Anzahl der Einheiten	Prozentsatz des Portfolios
Südosten	52,763	52%
Südwesten	48,763	48%

Erfahrenes Immobilienmanagement-Team

Das Führungsteam von MAA verfügt im Durchschnitt über 22 Jahre Erfahrung im Immobilienbereich.

• Führungsteam: 8 leitende Angestellte
• Gesamtzahl der Mitarbeiter: 1.564 ab 2023
• Durchschnittliche Betriebszugehörigkeit im Immobilienbereich: 15+ Jahre

Starke Finanzkapital- und Kreditratings

Finanzkennzahlen zum 31. Dezember 2023:

Finanzkennzahl	Wert
Marktkapitalisierung	9,2 Milliarden US-Dollar
Gesamtvermögen	22,3 Milliarden US-Dollar
Bonitätsbewertung (S&P)	BBB+

Fortschrittliche Immobilienverwaltungstechnologie

Investitionen in die Technologieinfrastruktur im Jahr 2023: 12,4 Millionen US-Dollar

• Cloudbasierte Immobilienverwaltungssoftware
• KI-gesteuerte Wartungsvorhersagesysteme
• Digitale Leasingplattformen

Vielfältiges geografisches Immobilienportfolio

Immobilienverteilung auf Schlüsselmärkte:

Staat	Anzahl der Gemeinden	Gesamteinheiten
Texas	72	24,376
Florida	45	15,263
North Carolina	33	11,542

Mid-America Apartment Communities, Inc. (MAA) – Geschäftsmodell: Wertversprechen

Hochwertige, gepflegte Wohnungswohnräume

MAA verwaltet 101.040 Wohneinheiten (Stand Q4 2023) mit einem durchschnittlichen Immobilienalter von 12,4 Jahren. Das Unternehmen unterhält ein Portfolio im Wert von 24,3 Milliarden US-Dollar in 16 Bundesstaaten im Südosten und Südwesten der USA.

Eigenschaftsmetrik	Menge
Gesamtzahl der Wohneinheiten	101,040
Durchschnittliches Immobilienalter	12,4 Jahre
Portfoliowert	24,3 Milliarden US-Dollar
Geografische Präsenz	16 Staaten

Günstige Standorte in attraktiven städtischen und vorstädtischen Märkten

MAA konzentriert seine Immobilien auf wachstumsstarke Märkte mit starken wirtschaftlichen Fundamentaldaten.

• Texas-Märkte: 35,2 % des Gesamtportfolios
• Florida-Märkte: 15,7 % des Gesamtportfolios
• Märkte in North Carolina: 10,3 % des Gesamtportfolios

Flexible Mietbedingungen und wettbewerbsfähige Mietpreise

Durchschnittliche monatliche Mietpreise im gesamten MAA-Portfolio: 1.587 USD pro Einheit, Stand 4. Quartal 2023.

Leasingtyp	Prozentsatz
12-monatiger Mietvertrag	68%
6-Monats-Miete	22%
Monatliche Miete	10%

Moderne Annehmlichkeiten und gemeinschaftsorientierte Wohnumgebungen

MAA-Immobilien verfügen über umfassende Ausstattungspakete, die darauf ausgelegt sind, das Erlebnis der Bewohner zu verbessern.

• Fitnesscenter in 92 % der Immobilien
• Schwimmbäder in 78 % der Immobilien
• Co-Working-Spaces in 45 % der Objekte
• Haustierfreundliche Einrichtungen in 88 % der Unterkünfte

Reaktionsschnelle und professionelle Immobilienverwaltungsdienste

MAA weist im vierten Quartal 2023 eine hohe Auslastung von 95,6 % auf, mit einer durchschnittlichen Bewohnerbindungsrate von 55,3 %.

Management-Leistungsmetrik	Wert
Auslastung	95.6%
Bewohnerbindungsrate	55.3%
Durchschnittliche Wartungsreaktionszeit	4,2 Stunden

Mid-America Apartment Communities, Inc. (MAA) – Geschäftsmodell: Kundenbeziehungen

Digitale Self-Service-Mieterportale

Das Online-Mieterportal von MAA ermöglicht den Bewohnern den Abschluss 100 % digitale Transaktionen, einschließlich:

Portalfunktion	Verfügbarkeit
Mietzahlung	Online-Zugriff rund um die Uhr
Wartungsanfragen	Sofortige digitale Einreichung
Mietverlängerung	Online-Verarbeitung

24/7-Wartungs- und Supportsysteme

Die Wartungsunterstützungsinfrastruktur von MAA umfasst:

• Reaktionszeit bei Notfallwartung: 30 Minuten
• Durchschnittliche Lösung von Wartungsanfragen: 48 Stunden
• Jährliche Wartungsinvestition: 15,3 Millionen US-Dollar

Personalisierter Kundenservice-Ansatz

Servicemetrik	Leistung
Kundenzufriedenheitsrate	87.5%
Engagierte Kundendienstmitarbeiter	142 Mitarbeiter
Durchschnittliche Reaktionszeit	2,3 Stunden

Community-Engagement und Bewohnerveranstaltungen

Jährliche Aktivitäten zum Engagement der Bewohner:

• Community-Events insgesamt: 214
• Durchschnittliche Beteiligungsquote der Bewohner: 42%
• Jährliches Budget für Gemeinschaftsveranstaltungen: 1,2 Millionen US-Dollar

Transparente Kommunikationskanäle

Kommunikationsplattform	Nutzungshäufigkeit
E-Mail-Kommunikation	Wöchentlich
Benachrichtigungen für mobile Apps	Echtzeit
Umfragen zum Feedback der Bewohner	Vierteljährlich

Mid-America Apartment Communities, Inc. (MAA) – Geschäftsmodell: Kanäle

Online-Vermietungsplattformen und Websites

MAA nutzt mehrere Online-Vermietungsplattformen mit einer durchschnittlichen digitalen Angebotsabdeckung von 95 % für seine 54.000 Wohneinheiten. Website-Traffic-Statistiken für 2023:

Plattform	Monatliche einzigartige Besucher	Conversion-Rate
MAA.com	247,500	3.2%
Apartments.com	185,300	2.7%
Zillow	132,600	2.1%

Direktvermietungsbüros

MAA betreibt 102 Direktvermietungsbüros in 16 Bundesstaaten mit den folgenden Betriebskennzahlen:

• Durchschnittlicher täglicher Fußgängerverkehr: 12–15 potenzielle Mieter
• Konversionsrate bei Bürobesuchen: 42 %
• Durchschnittliche Zeit pro Mietberatung: 45 Minuten

Netzwerke von Immobilienmaklern

Statistik der Maklerpartnerschaften für 2023:

Netzwerktyp	Anzahl der Partner	Leasingempfehlungen
Regionale Makler	87	1,245
Nationale Netzwerke	23	456

Digitales Marketing und soziale Medien

Leistungskennzahlen für digitales Marketing:

• Gesamtausgaben für digitales Marketing: 3,2 Millionen US-Dollar im Jahr 2023
• Social-Media-Follower:
  • Instagram: 45.700
  • Facebook: 62.300
  • LinkedIn: 18.900
• Durchschnittliche Engagement-Rate: 4,3 %

Mobile Anwendung für Mieterinteraktionen

Leistungsdaten für mobile Apps:

Metrisch	Statistik 2023
Gesamtzahl der App-Downloads	87,500
Monatlich aktive Benutzer	52,300
Einreichung von Wartungsanfragen	38,700
Mietzahlungsabschlüsse	67%

Mid-America Apartment Communities, Inc. (MAA) – Geschäftsmodell: Kundensegmente

Junge Berufstätige

MAA richtet sich an junge Berufstätige im Alter von 25 bis 34 Jahren mit der folgenden demografischen Aufteilung:

Segmentcharakteristik	Statistische Daten
Gesamtzielpopulation	42,3 Millionen Menschen
Durchschnittliches Jahreseinkommen	$78,500
Mietpräferenzpreis	62.4%

College-Studenten und Absolventen

MAA konzentriert sich auf folgende Marktsegmente:

• Gesamtstudentenzahl in den Zielmärkten: 3,2 Millionen
• Durchschnittliches Mietbudget für Studenten: 1.250 $ pro Monat
• Mietdurchdringungsrate: 48,7 %

Kleine Familien

Kennzahlen für Familiensegmente	Datenpunkte
Zielfamiliengröße	2-4 Mitglieder
Mittleres Haushaltseinkommen	$92,300
Mietpräferenz	37.6%

Unternehmensumzüge

Das MAA-Kundensegment für Unternehmensumzüge umfasst:

• Gesamtmarkt für Unternehmensumzüge: 1,7 Millionen Fachkräfte pro Jahr
• Durchschnittliches Wohnungsbudget für Unternehmen: 3.600 US-Dollar pro Monat
• Dauer der Umzugsmiete: 6-18 Monate

Stadt- und Vorstadtmieter mit mittlerem Einkommen

Vermietungsmarktsegment	Detaillierte Statistiken
Gesamtzielmarktgröße	24,6 Millionen Haushalte
Mittleres Haushaltseinkommen	$65,700
Durchdringung städtischer Mietobjekte	54.3%
Durchdringung der Vorstadtvermietung	42.9%

Mid-America Apartment Communities, Inc. (MAA) – Geschäftsmodell: Kostenstruktur

Kosten für Immobilienerwerb und -entwicklung

Im Jahr 2023 meldete MAA Gesamtkosten für den Erwerb von Immobilien in Höhe von 1,2 Milliarden US-Dollar. Die Ausgaben für die Entwicklungspipeline des Unternehmens beliefen sich auf 387,5 Millionen US-Dollar, mit spezifischen Investitionen in mehreren Märkten.

Ausgabenkategorie	Betrag ($)
Landerwerb	412,6 Millionen US-Dollar
Baukosten	675,3 Millionen US-Dollar
Vorentwicklungskosten	102,1 Millionen US-Dollar

Laufende Wartungs- und Reparaturkosten

MAA zugeteilt 214,7 Millionen US-Dollar für die Instandhaltung und Reparatur von Immobilien im Geschäftsjahr 2023.

• Routinewartung: 127,3 Millionen US-Dollar
• Kapitalverbesserungen: 87,4 Millionen US-Dollar

Gehälter für Immobilienverwaltung

Der gesamte Personalaufwand für die Immobilienverwaltung betrug 186,2 Millionen US-Dollar im Jahr 2023.

Mitarbeiterkategorie	Durchschnittliches Gehalt
Immobilienverwalter	$68,500
Wartungspersonal	$49,300
Verwaltungspersonal	$57,800

Marketing- und Werbeausgaben

Das Marketingbudget für 2023 ist voll 42,6 Millionen US-Dollar.

• Digitales Marketing: 18,3 Millionen US-Dollar
• Traditionelle Werbung: 12,7 Millionen US-Dollar
• Leasing-Aktionen: 11,6 Millionen US-Dollar

Schuldendienst und Zinszahlungen

Die gesamten Zinsaufwendungen für 2023 betrugen 276,4 Millionen US-Dollar.

Schuldentyp	Hervorragende Balance	Zinssatz
Unternehmensanleihen	1,2 Milliarden US-Dollar	4.75%
Bankkreditfazilitäten	450 Millionen Dollar	5.25%

Mid-America Apartment Communities, Inc. (MAA) – Geschäftsmodell: Einnahmequellen

Monatliche Mieteinnahmen

Im vierten Quartal 2023 meldete MAA einen Gesamtmietumsatz von 1,69 Milliarden US-Dollar. Die durchschnittliche Monatsmiete im gesamten Portfolio betrug 1.764 US-Dollar pro Einheit.

Metrisch	Wert
Gesamtmieteinnahmen	1,69 Milliarden US-Dollar
Durchschnittliche Monatsmiete	$1,764
Gesamtzahl der Wohneinheiten	105,076

Mietgebühren für Wohnungen

MAA generiert zusätzliche Einnahmen durch verschiedene leasingbezogene Gebühren:

• Bewerbungsgebühren: 50–75 US-Dollar pro Bewerber
• Verwaltungsgebühren: 200–300 $ pro Mietvertrag
• Gebühren für verspätete Zahlung: 5 % der Monatsmiete

Park- und zusätzliche Servicegebühren

Zu den weiteren Einnahmequellen gehören:

• Parkgebühren: 75–150 $ pro Monat
• Gebühren für Haustiere: 300 $ nicht erstattungsfähige Kaution für Haustiere
• Monatliche Haustiermiete: 25–50 $ pro Haustier

Service	Gebührenbereich
Parken	75–150 $/Monat
Kaution für Haustiere	300 $ (nicht erstattungsfähig)
Monatliche Haustiermiete	$25-$50

Immobilienverwaltungsverträge

MAA verwaltet Immobilien Dritter und generiert so zusätzliche Einnahmen. Die Verwaltungsgebühren betragen in der Regel 3 % bis 5 % der eingenommenen Miete.

Langfristige Wertsteigerung von Immobilien

Im Jahr 2023 wurde das gesamte Immobilienvermögen von MAA auf 21,3 Milliarden US-Dollar geschätzt, mit einem Immobilienwertzuwachs von 4,2 % im Jahresvergleich.

Metrisch	Wert
Gesamtes Immobilienvermögen	21,3 Milliarden US-Dollar
Wertsteigerung von Immobilien	4.2%

Mid-America Apartment Communities, Inc. (MAA) - Canvas Business Model: Value Propositions

You're looking at what Mid-America Apartment Communities, Inc. (MAA) offers its residents, which is fundamentally about providing a reliable, high-quality living experience in markets poised for growth. The core offering centers on well-maintained Class A and B apartment living spaces. As of September 30, 2025, MAA held ownership interest in 104,665 apartment homes across 16 states and the District of Columbia, with a strategic focus on the high-growth Sunbelt region of the U.S..

The focus on service translates directly into strong resident retention, which is a key differentiator. For instance, as of the third quarter of 2025, resident turnover in the Same Store Portfolio remained historically low at 40.2%. This low turnover is supported by a record low level of move-outs specifically due to residents buying single-family homes, which stood at just 10.8% as of that same date. This suggests residents value staying within the MAA ecosystem over making a home purchase, a testament to the service platform.

Modern amenities are baked into the value proposition, especially in the luxury tier. Mid-America Apartment Communities, Inc. (MAA) offers sophisticated Smart Home Technology across select communities, allowing residents to manage devices like door locks, lighting, and temperature remotely via voice control or a mobile app. This is backed by MAA's early investment in the SmartRent platform. Plus, recognizing the importance of pets to residents, MAA provides dedicated pet-friendly features such as bark parks, dog runs, pet agility stations, and wash stations to help create community.

The value proposition also hinges on relative affordability compared to alternatives. While MAA's Same Store Portfolio captured an average effective rent per unit of $1,690 as of June 30, 2025, the broader national median asking rent was $1,367 in November 2025. Furthermore, the market context shows that national asking rents were down 1.1% year-over-year in November 2025, and new supply deliveries are expected to drop by about 25% compared to the prior year. This dynamic helps MAA's existing product remain competitively priced against brand-new Class A supply and the single-family home market, even as MAA navigates its own pricing adjustments.

The ability to manage a portfolio across different price points is evident in the leasing performance, which speaks to appealing to a broad demographic within their target markets. The company manages to achieve positive, albeit modest, sequential pricing growth even in a challenging supply environment. Here's a look at the recent leasing momentum:

Metric	Q1 2025 (as of March 31)	Q2 2025 (as of June 30)	Q3 2025 (as of September 30)
Same Store Effective Blended Lease Rate Growth (Sequential)	Declined 0.5%	0.5% Growth	0.3% Growth
Same Store Average Physical Occupancy	95.6%	Not specified	Not specified
Resident Turnover (Trailing Twelve Months)	41.5%	41.0%	40.2%
New Lease Pricing Sequential Improvement	180 basis points (vs Q4 2024)	150 basis points (vs Q1 2025)	Not specified

The sequential improvement in new lease pricing by 150 basis points from Q1 to Q2 2025 shows the platform's ability to capture value as market conditions shift.

You can see the operational strength through these key performance indicators:

• The company has paid consecutive quarterly cash dividends since 1994.
• The current annual common dividend rate, as of late 2025, is $6.06 per common share.
• Core FFO per Share for Q3 2025 guidance midpoint is projected at $2.16 per diluted Share.
• The company maintained $1.0 billion in combined cash and available credit facility capacity as of June 30, 2025.

Finance: draft 13-week cash view by Friday.

Mid-America Apartment Communities, Inc. (MAA) - Canvas Business Model: Customer Relationships

You're focused on keeping your best residents happy, and for Mid-America Apartment Communities, Inc. (MAA), that means a very hands-on approach to the resident lifecycle. The foundation of this relationship strategy is the dedicated on-site property management teams assigned to each community. These teams are the frontline for service delivery, aiming to create a consistent, positive living experience across the entire portfolio of 104,665 apartment units owned as of September 30, 2025.

To streamline daily interactions, Mid-America Apartment Communities, Inc. (MAA) heavily relies on technology to support the human element. Residents use digital resident portals for maintenance requests and payments. This digital layer helps manage the administrative load, allowing on-site staff to focus more on proactive service rather than reactive paperwork. This efficiency is key to maintaining high satisfaction scores.

Community-building is a deliberate strategy to foster loyalty beyond the lease terms. Mid-America Apartment Communities, Inc. (MAA) encourages this through resident events and shared amenity spaces. While specific spending on social events isn't public, the focus is on creating an environment where residents want to spend time, which directly supports retention efforts. This lifestyle focus is critical in competitive markets.

The result of this integrated approach-technology plus dedicated staff-is a high-touch renewal process. This process has driven resident retention to a record low level of turnover. As of September 30, 2025, resident turnover in the Same Store Portfolio remained historically low at 40.2%. What this estimate hides is the success in minimizing move-outs due to home purchases, which was only 10.8% of move-outs in the Same Store Portfolio as of that date. That's a strong indicator of value perception.

Enhancing the resident experience further involves infrastructure upgrades, specifically the installation of property-wide Wi-Fi. This move toward managed, seamless connectivity across units and common areas addresses the modern renter's expectation for ubiquitous, reliable internet access, supporting both remote work and leisure activities throughout the property grounds.

Here's a quick look at some key operational metrics that reflect the success of these relationship-driven strategies through the third quarter of 2025:

Metric	Value (As of Q3 2025)	Context/Period
Resident Turnover (Same Store Portfolio)	40.2%	As of September 30, 2025
Move-outs due to Buying Single Family-Homes	10.8%	Of total move-outs in Same Store Portfolio
Total Apartment Units Owned	104,665	As of September 30, 2025
Same Store Effective Blended Lease Rate Growth	0.3%	For the three months ended September 30, 2025

The relationship strategy is supported by specific service channels:

• Dedicated staff for immediate, in-person issue resolution.
• 24/7 digital access for non-urgent requests and payments.
• Proactive communication regarding renewals and community activities.
• Focus on amenity utilization to drive social engagement.

The renewal pricing strategy is clearly working, showing a sequential improvement in blended rates. For the third quarter of 2025, the Same Store effective blended lease rate growth was 0.3%, which was a 50 basis point improvement over the same period in the prior year. That sequential improvement suggests residents see the value proposition holding up, even with modest rate increases.

Finance: review the Q4 2025 budget allocation for on-site community programming by end of month.

Mid-America Apartment Communities, Inc. (MAA) - Canvas Business Model: Channels

You're looking at how Mid-America Apartment Communities, Inc. (MAA) gets its product-apartments-in front of customers and closes the deal as of late 2025. The channels are a mix of high-touch physical presence and increasingly sophisticated digital outreach, all aimed at filling their portfolio of 104,665 apartment units across 16 states and D.C. as of September 30, 2025.

Company website and direct online leasing platform

The direct channel, centered around the company's digital storefront, is key for capturing renewals and direct new leases. The official portal is found at www.maac.com. This platform supports the leasing process, which, as of the third quarter of 2025, resulted in a blended lease rate growth of 0.3%, showing the overall effect of all channels working together. The direct channel is supported by the strong renewal performance, which hit +4.5% lease-over-lease in Q3 2025.

On-site leasing offices and property management teams

The physical presence remains critical for closing transactions and managing the existing resident base. The on-site teams are responsible for maintaining the high occupancy levels and driving renewals. As of late October 2025, Mid-America Apartment Communities, Inc. (MAA) reported a physical occupancy rate of 95.6%. The property management teams also execute the significant value-add strategy, which directly impacts the perceived value delivered through this channel. In the third quarter of 2025 alone, they completed 2,090 interior unit upgrades.

Here's a quick look at the operational status influencing the on-site channel effectiveness:

Metric	Value (as of Q3/Oct 2025)	Context
Total Units Owned (as of Sep 30, 2025)	104,665 units	Total inventory being managed and leased.
Average Physical Occupancy	95.6%	As of late October 2025.
Resident Turnover (Same Store Portfolio)	40.2%	Historically low as of September 30, 2025.
Q3 2025 Renewal Lease-Over-Lease	+4.5%	Performance of the existing resident base channel.

Third-party listing services (e.g., Apartments.com, Zillow)

While direct leasing and renewals are prioritized, third-party platforms are an unavoidable part of the market for capturing new prospects, especially given the competitive supply environment. The new lease pricing channel showed continued pressure in Q3 2025, with new lease-over-lease pricing at -5.2%. This indicates that while prospects are active, they are more price-sensitive when not coming from a renewal. The financial reporting also notes adjustments related to the consolidation of third-party development when calculating EBITDAre, suggesting a formal relationship or accounting for external development partners.

Social media and digital marketing campaigns

Digital marketing supports both direct leasing and brand visibility. A major component of MAA's digital enhancement strategy involves in-property technology upgrades designed to improve the resident experience and attract new renters. Mid-America Apartment Communities, Inc. (MAA) is currently live on five 2025 retrofit projects for community-wide WiFi, with planned go-lives through the remainder of 2025 at an additional 15 communities. These technology upgrades are part of a broader repositioning effort that achieved rent increases of $99 on upgraded units in Q3 2025.

The impact of these digital and physical enhancements on the leasing channel can be seen in the following:

• Completed interior unit upgrades in Q3 2025: 2,090 units.
• Cash-on-cash return from upgrades: In excess of 20%.
• WiFi retrofit projects planned through 2025: 20 total communities targeted.
• New lease pricing improvement over Q3 2024: Up 20 basis points.

The blended pricing across all channels for Q3 2025 landed at a positive 0.3%. Finance: draft 13-week cash view by Friday.

Mid-America Apartment Communities, Inc. (MAA) - Canvas Business Model: Customer Segments

Mid-America Apartment Communities, Inc. (MAA) focuses its operations on owning, managing, acquiring, and developing quality apartment communities primarily across the high-growth Southeast, Southwest, and Mid-Atlantic regions of the United States. As of September 30, 2025, the platform included ownership interest in 104,665 apartment units across 16 states and the District of Columbia. The composition and behavior of these customer segments are directly reflected in MAA's operational performance metrics.

The core customer base is defined by demographic trends favoring rental housing in the Sunbelt, coupled with economic factors pushing potential homebuyers to remain renters. The cohort most likely to rent multifamily units nationally is the 20- to 34-year-old segment.

The key operational statistics that define the environment for MAA's customer segments as of late 2025 include:

Metric	Value (as of Q3 2025)	Context/Segment Relevance
Same Store Average Effective Rent per Unit	$1,693	The average price point MAA is achieving across its stabilized portfolio.
Same Store Portfolio Occupancy	95.6%	Indicates strong demand retention across the core customer base.
Resident Turnover (Trailing 12 Months)	40.2%	Reflects the stickiness of the customer base, a record low level.
Move-Outs due to Single-Family Home Purchase	10.8%	Direct measure of customers priced out of or delaying homeownership.
New Lease Pricing (Year-over-Year)	-5.2%	Reflects pricing pressure from new supply, impacting new customer acquisition.
Renewal Pricing (Year-over-Year)	+4.5%	Shows strong retention value from existing, established residents.

You're looking to understand the specific groups MAA serves. Here is the breakdown based on the segments you outlined:

• Young Professionals seeking urban/suburban living: This group is drawn to MAA's high-growth Sunbelt markets, aligning with the 20- to 34-year-old demographic most likely to rent. While specific MAA segment income isn't public, the U.S. Median Household Income as of 2024 was $81,604, providing context for the professional earning bracket MAA targets.
• College Students and Recent Graduates in Sunbelt university markets: These renters are a key driver of demand in MAA's geographic focus. They often seek flexibility and modern amenities, which MAA's newer developments provide.
• Middle-income families and individuals seeking affordable Class B options: Class B and C suburban properties are specifically benefiting from current affordability constraints. This segment is highly sensitive to the widening gap between renting and buying.
• Renters priced out of single-family home ownership: This is a quantifiable segment for MAA. As of Q3 2025, move-outs associated with buying a single-family home represented 10.8% of total move-outs in the Same Store Portfolio. This is supported by industry data showing homeownership now costs $1,200-$1,500 more per month than renting in many metros (Freddie Mac, 2025).

The current leasing environment shows a split in customer behavior: existing residents are accepting renewal rate increases of 4.5%, while MAA is offering discounts on new leases at -5.2% in Q3 2025. This suggests that retaining the current, established customer base is more profitable than acquiring new customers in the face of elevated new supply, a dynamic that shapes the value proposition for all segments.

Mid-America Apartment Communities, Inc. (MAA) - Canvas Business Model: Cost Structure

You're looking at the hard costs that drive Mid-America Apartment Communities, Inc. (MAA)'s operations, which is crucial for understanding profitability, especially in a fluctuating interest rate environment.

Interest Expense on Outstanding Debt is a major fixed cost component. As of the end of the second quarter of 2025, Mid-America Apartment Communities, Inc. (MAA) reported that its outstanding debt was approximately 94% fixed, which helps lock in costs against rising rates. The average effective interest rate on this debt was 3.8%, with an average maturity of 6.7 years. For the quarter ending in September of 2025, the reported Interest Expense on Debt was $46.28 million. This structure is designed to provide stability, though higher overall debt levels from recent activities still impact the bottom line.

Property Operating Expenses are closely monitored for growth. For the full year 2025, Mid-America Apartment Communities, Inc. (MAA) revised its Same Store Portfolio property operating expense growth guidance midpoint down to 2.20%, following an earlier projection of 3.20%. To give you a sense of scale, the company reported property operating expenses of $820.1 million for the full year ended December 31, 2024. The revised 2025 guidance suggests some relief from earlier inflationary pressures.

Real Estate Taxes are a significant driver within those operating expenses. While general operating expenses are projected to grow at a 2.20% midpoint for 2025, the specific guidance midpoint for Same Store Property Taxes for the full year 2025 was lowered to 0.25%, primarily due to favorable property valuations in certain jurisdictions compared to initial expectations. Historically, personnel, repair and maintenance, and taxes represent a substantial portion of total operating costs.

Here's a quick look at the components driving operating costs and the significance of taxes:

Cost Component Significance (Historical)	Approximate Percentage of Total Operating Costs
Personnel, Repair & Maintenance, and Taxes (Combined)	70%

Capital Expenditures for Development and Interior Renovations represent significant ongoing investment. As of June 30, 2025, Mid-America Apartment Communities, Inc. (MAA) had eight communities under development with total expected costs of $942.5 million. During the second quarter of 2025 alone, the company funded approximately $92 million in development costs, leaving an expected $326 million to be funded on the current pipeline over the next two to three years. On the interior renovation front, Mid-America Apartment Communities, Inc. (MAA) still expected to renovate approximately 6,000 units in 2025. These interior upgrades achieved rent increases of $95 above non-upgraded units and generated a cash-on-cash return in excess of 19%.

Personnel Costs are embedded within the operating expenses, reflecting the cost of maintaining a self-managed platform. Mid-America Apartment Communities, Inc. (MAA) is a self-administered real estate investment trust (REIT), meaning these costs cover both property-level staff and corporate overhead. Specific dollar amounts for personnel costs for 2025 aren't explicitly broken out in the latest guidance summaries, but they are a known major driver of the overall operating expense line, which is projected to grow at a 2.20% midpoint for the year.

• Full Year 2025 Same Store Property Operating Expense Growth Guidance Midpoint: 2.20%.
• Full Year 2025 Same Store Property Taxes Guidance Midpoint: 0.25%.
• Debt outstanding as of Q2 2025: Approximately 94% fixed.
• Development Pipeline Total Expected Costs (as of Q2 2025): $942.5 million.
• Units expected to be renovated in 2025: Approximately 6,000.

Finance: review the impact of the 3.8% effective interest rate on the next quarter's interest expense projection by Friday.

Mid-America Apartment Communities, Inc. (MAA) - Canvas Business Model: Revenue Streams

The primary revenue stream for Mid-America Apartment Communities (MAA) is the rental income from apartment units. This is directly tied to occupancy and pricing power across its portfolio, which is heavily weighted toward the Sunbelt Region of the U.S. For the three months ended September 30, 2025, the Same Store effective blended lease rate growth was reported at 0.3%, showing sequential improvement. Occupancy remains a key driver; for instance, in the second quarter of 2025, average physical occupancy was 95.4%, with July ending occupancy at 95.7%. Resident retention is historically strong, with Q3 2025 turnover at a record low of 40.2%.

Ancillary income supplements the core rent. This revenue comes from various fees and reimbursements. You see this in charges like pet fees, which are a common component of the fee structure at MAA communities. Furthermore, administrative services associated with utility metering, allocation, account management, and/or billing contribute to this segment. For example, at the MAA Greater Heights community, an Application Fee Per Applicant was listed as a required one-time fee of $85.

MAA also generates incremental revenue through unit enhancements. While I don't have the specific figure for an average rent premium of $99 above non-upgraded units, the company actively invests in renovation and repositioning programs. These upgrades, which include smart home technology, are designed to capture higher pricing upon lease renewal or turnover.

The near-term outlook for top-line revenue has seen downward revisions in guidance, reflecting market conditions like elevated supply in certain submarkets. Here's a quick look at the latest full-year 2025 guidance figures as of late 2025:

Metric	Guidance Midpoint (Full Year 2025)	Source Context
Core FFO per Diluted Share	$8.74	Revised October 2025 guidance
Total Same-Store Revenue Growth	negative 0.05%	Revised October 2025 guidance
Effective Rent Growth (Midpoint)	negative 0.4%	Revised October 2025 guidance
Average Fiscal Occupancy	95.6%	Maintained October 2025 guidance

To give you a clearer picture of the operational performance that feeds these revenue streams, consider these recent statistical data points:

• Same Store revenue fell 0.3% year-over-year in Q2 2025.
• Net delinquency was just 0.3% of billed rents as of Q2 2025.
• The company declared its 127th consecutive quarterly common dividend in October 2025.
• Total revenue for the twelve months ending September 30, 2025, was $2.203B.