Over the past two years, we have seen a subtle shift in the intention to lease long term. According to our "2017 Today's Online Renter Study", when residents were asked if they planned to stay one-two years, there was a slight decrease of .1%, however, if planned rental length was more than five years it was up 2.5%. The study also found the higher the amount of rent; the least likely residents are committed to staying beyond five years.
What Impacts the Renewal Decision?
Let's take a look at what is most important to renters when considering renewing? Value, Safety, Service and Visual Appeal are the 4 renewal drivers that residents reference when deciding; should I renew?