What do a metro’s median age and economic strength have to do with apartment renter turnover? It turns out, the connection is strong. It also turns out that household income, Millennial population and rent growth have very little to do with lease renewal conversion.
MPF Research recently covered the metro areas with the highest and lowest apartment renewal conversion rates. Renewal conversion is the share of apartment residents with expiring leases choosing to renew their leases instead of moving out. The higher the retention rate, the less mobile the renter base.
Read more...What Factors Correlate with Apartment Resident Turnover? | Property Management Insider
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