Despite indications that the number of apartment renters electing to move out at the conclusion of their lease is easing up, multifamily firms are nevertheless working harder than ever to lock in renewals, due in large part to downward pressure on rents for new leases and weaker occupancies. That doesn’t mean it’s time to throw in the towel. Instead, seasoned property management vets from progressive multifamily firms say there are still plenty of tools left in the strategy box to keep loyal residents happy and coming back for more at the conclusion of their lease.
Here are the top 10 tactics suggested by a panel of industry experts who are revving up their renewals.
Read more...Top 10 Strategies for Maximizing Lease Renewals - Retention, Leasing And Concessions, Marketing - Multifamily Executive Magazine
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