Know your retention patterns?
With competition for new renter prospects heating up among individual apartment communities, the ability to hang onto existing residents becomes increasingly important. Given that rent growth for renewal leases now surpasses the price upturn for new-resident leases in much of the country, resident retention is more critical than ever to impacting your pricing power and profitability.
Predicting and influencing resident behavior could mean the difference between underperforming, maintaining the status quo or outperforming the market. Do you understand resident retention patterns in your portfolio–including how typical performances vary by location and asset class?
Join RealPage experts to gain more insight on these dynamics as they discuss:
- Patterns in propensity for renewing expiring leases by location and product niche
- Pricing power relative to growth in rents for new resident leases across local markets and product segments
- Influences shaping performance results for renewal leases
- Owner and operator priorities when positioning renewal leases effectively
Greg WillettChief Economist, RealPage, Inc.
Greg facilitates the alignment of the firm’s technology and analytics solutions with rental housing sector needs and opportunities. He is well versed on rental housing market fundamentals and activity nationally, by metro and in individual neighborhoods. Greg is active in industry organizations such as the National Multifamily Housing Council, the Urban Land Institute and the National Apartment Association. He provides commentary for national and local business media.
Andrew BowenIndustry Principal, Asset Optimization, RealPage, Inc.
Andrew joined the YieldStar team in 2010 as the Director of Business Development. Since that time he has served as a Consultant, Trainer, Professional Services Manager and Industry Principal across all of Asset Optimization. Prior to joining RealPage Andrew spent 15 years in multifamily operations.<br /><br />He and his wife of 20 years share a passion for fitness and watching Marvel® movies with their two sons. When not on the road sharing the benefits of Business Intelligence you will likely find him in a martial arts dojo of some type. His favorite casino game is craps.