Posted by: phillipsre | October 6, 2015

Renter Retention On The Rise 

apt_for_rentA recent article from Multifamily Executive reports rental retention continues its 20-month run above 50%, as renewal rates rise 5.4%. The article highlights a report from MPF Research, the study shows that 51% of the nations tenants with leases that were up for renewal in August , chose to renew, which was up 0.3 percentage points from August 2014. MPF says that was the largest increase for lease renewals in nearly 10 years. This is great news for landlords and property owners, turn overs of units and vacancies is a very expensive part of apartment management, additionally, tenants chose to stay even if there were rent increases. The cost of moving and finding a new apartment is much more expensive than a small percentage rent increase for most. Promising news for tenants and landlords across the nation.

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