Fewer and fewer apartment residents are indicating intent to renew their leases. For the four quarters ending on March 31, 2012, only 58.5 percent of renters said they "definitely" or "probably" would renew, according to Kingsley Associates' latest resident survey results. This proportion has declined for five consecutive quarters and is 6.5 percentage points below the high of 65.0 percent observed less than two years ago.
This trend continued despite stabilization in overall resident satisfaction. For the period, 76.1 percent of residents rated their overall satisfaction as "excellent" or "good." While below the levels of satisfaction reported throughout 2009 and 2010, this figure has been fairly consistent for the past year.
Read more...Retaining Residents Gets More Challenging - Multifamily News Headlines – Breaking News, Stories, Top Headlines :: MultifamilyBiz.com
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