Keep the Keys: Secrets to Scoring Resident Renewals via Multifamily Executive Magazine

Dan Haefner believes the key to future success can be inspired by his past.

Haefner, who serves as president and COO of CFLane, can remember renewing the lease on his first apartment in Menlo Park, Calif. more than 30 years ago.

“For me, it was really about convenience, cost and location,” he says.

Renewals are a hot topic of conversation for Haefner and the team at the Atlanta-based management firm this winter because retention will be the name of the game in this upcoming leasing season.

Competition is expected to heat up as more than 240,300 new apartments are slated to be delivered this year, according to Dallas-based research firm Axiometrics. And that gives renters many more options. In fact, resident renewal intent dropped from 65 percent in the second quarter of 2010 to 54.9 percent in the last quarter of 2013, according to a recent NMHC survey conducted by Kingsley Associates.

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