Kingsley Associates' latest analysis reveals that renter renewal intent and value for amount paid have continued to decline since Q4 2013. Only 52.3 percent of residents responded that they "probably would" or "definitely would" renew their lease, down 0.9 percent from one year ago. Similarly, only 53.9 percent of renters feel their apartments are worthy of their current rental rate, down 0.6 percent over the same period.
According to John Falco, a principal in Kingsley Associates' Atlanta office, “When we look at time trend analysis, it is quite evident that renters are feeling the effects of sharp rent increases. Three years ago, only one out of every three renters cited rental rate as a top decision factor.
Read more...Rental Rate Overtakes Location as Top Renewal Decision Factor According to Latest Kingsley Report | MultifamilyBiz.com
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