Boston, October 22, 2025
News Summary
Chestnut Hill Realty has appointed Maggie Cerce as the new Director of Residential Leasing to oversee the management of occupancy and leasing performance for 5,000 apartment homes in Greater Boston. With over 20 years of experience in multifamily real estate, Cerce aims to optimize leasing strategies and improve performance metrics while responding to changing market dynamics, especially the increasing vacancy rates as September approaches. This strategic move is crucial amid a fluctuating rental market influenced by international student enrollment and academic cycles.
Boston — Chestnut Hill Realty has appointed Maggie Cerce as the new Director of Residential Leasing, a strategic hire aimed at managing occupancy and leasing performance across the company’s Greater Boston holdings.
Key appointment and role
Maggie Cerce joins Chestnut Hill Realty to oversee leasing strategy and execution across a large regional portfolio. Cerce’s responsibilities include optimizing occupancy for a portfolio of 5,000 apartment homes in the Greater Boston area. She will work closely with corporate leadership and on-site property teams to identify leasing opportunities and improve performance metrics, and she will implement data-driven marketing strategies tailored to different communities within the portfolio.
Experience and qualifications
Cerce has over 20 years of experience in multifamily real estate, including previous leadership positions with national Real Estate Investment Trusts (REITs) and regional firms. Her prior positions include senior leasing and property management roles at Trinity Management and Claremont Companies in eastern Massachusetts. She holds a degree in Residential Property Management from Virginia Tech, known for producing top talent in the housing industry. With her focus on collaboration, performance analytics, and strategic marketing, Cerce is expected to play a key role in Chestnut Hill Realty’s mission of providing high-quality housing and exceptional service to residents.
Why the hire matters now
The appointment comes as Boston’s rental market shows signs of shifting demand tied to the academic calendar and international student enrollment. Boston’s rental market is experiencing increased unsigned leases as Sept. 1 approaches due to uncertainties for international students, a trend that affects demand and pricing across neighborhoods with heavy student populations.
Neighborhood-level availability and market signals
Data shows that some neighborhoods, particularly near universities like Boston University, Northeastern University, and Harvard University, are seeing higher vacancy rates. Mission Hill has noted a more than 90% increase in the availability rate compared to the same period last yearIn Fenway, the availability rate is nearly 10% higher than last year, while Fort Hill reports an almost 80% higher rate compared to 2024
Broader student and economic context
International students account for nearly 25% of student bodies at major universities, contributing approximately $4 billion to the Massachusetts economy. Changes in visa vetting and travel restrictions have raised the prospect that some international students will not enroll, which in turn is affecting unsigned leases and neighborhood vacancy rates.
Market reactions and responses
Real estate professionals report that rents are decreasing, and landlords are adjusting their prices based on the availability of units. Some landlords in Allston acted quicker in response to the changes in international student enrollment, allowing them to rent their properties more successfully. The competition between international students and local residents is exacerbating housing challenges, with some locals feeling priced out. Advocacy groups express concern that college students are driving rent prices higher, making it difficult for Boston residents to find affordable housing.
City and university actions
The city of Boston has launched an anti-displacement initiative and opened its Residential Conversion Program to universities to assist in alleviating housing pressures. Approximately 38,000 undergraduate and graduate students live off-campus in Boston, emphasizing the city’s reliance on student housing. Northeastern University is converting hotel space into student accommodations while also planning to build a new residence hall to meet housing commitments.
Short-term implications for Chestnut Hill Realty
For Chestnut Hill Realty, the immediate priorities for the new leasing director will likely include close monitoring of unit availability, targeted marketing to reduce vacancy windows, and flexible leasing offers where appropriate. The company’s portfolio spread across varied neighborhoods will require community-specific strategies, and Cerce’s mandate to apply data-driven marketing approaches ties directly to that need.
What to watch next
Key indicators to monitor include unsigned lease counts as Sept. 1 approaches, neighborhood-specific availability rates—especially in Mission Hill, Fenway, Cambridge, Allston, and Brighton—and any further changes in international student enrollment or visa policies that could influence demand for off-campus housing.
Frequently Asked Questions
Who was appointed Director of Residential Leasing at Chestnut Hill Realty?
Chestnut Hill Realty has appointed Maggie Cerce as the new Director of Residential Leasing.
What are Cerce’s responsibilities?
Cerce’s responsibilities include optimizing occupancy for a portfolio of 5,000 apartment homes in the Greater Boston area.
What experience does Maggie Cerce have?
Cerce has over 20 years of experience in multifamily real estate and has previously held leadership roles with national Real Estate Investment Trusts (REITs) and regional firms. Cerce’s prior positions include senior leasing and property management roles at Trinity Management and Claremont Companies in eastern Massachusetts.
How is the Boston rental market changing as students return?
Boston’s rental market is experiencing increased unsigned leases as Sept. 1 approaches due to uncertainties for international students.
Which neighborhoods are seeing higher availability rates?
Mission Hill has noted a more than 90% increase in the availability rate compared to the same period last year. In Fenway, the availability rate is nearly 10% higher than last year, while Fort Hill reports an almost 80% higher rate compared to 2024. There is a noted increase in availability in Allston and Brighton, close to Boston University. Despite a near 20% increase in Cambridge’s availability rates compared to last year, some properties near Harvard and MIT are still available.
What role do international students play in the market?
International students account for nearly 25% of student bodies at major universities, contributing approximately $4 billion to the Massachusetts economy. Approximately 38,000 undergraduate and graduate students live off-campus in Boston, emphasizing the city’s reliance on student housing.
What actions are universities taking?
Northeastern University is converting hotel space into student accommodations while also planning to build a new residence hall to meet housing commitments.
At-a-glance table: Key facts and figures
| Topic | Detail |
|---|---|
| Appointment | Chestnut Hill Realty has appointed Maggie Cerce as the new Director of Residential Leasing |
| Portfolio scope | Cerce’s responsibilities include optimizing occupancy for a portfolio of 5,000 apartment homes in the Greater Boston area |
| Experience | Cerce has over 20 years of experience; prior roles at Trinity Management and Claremont Companies in eastern Massachusetts; degree from Virginia Tech |
| Market signal | Boston’s rental market is experiencing increased unsigned leases as Sept. 1 approaches due to uncertainties for international students |
| Neighborhood changes | Mission Hill: more than 90% increase; Fenway: nearly 10% higher; Fort Hill: almost 80% higher; Cambridge: near 20% increase; increased availability in Allston and Brighton |
| Student impact | International students account for nearly 25% of student bodies at major universities, contributing approximately $4 billion to the Massachusetts economy |
| Off-campus students | Approximately 38,000 undergraduate and graduate students live off-campus in Boston |
| University actions | Northeastern University is converting hotel space into student accommodations while also planning to build a new residence hall |
Deeper Dive: News & Info About This Topic
HERE Resources
Additional Resources
- Boston Real Estate Times
- Wikipedia: Boston
- Boston Agent Magazine
- Google Search: Boston rental market
- CBS News
- Encyclopedia Britannica: Boston real estate
- NBC Boston
- Google News: Boston real estate news
- Boston Globe
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