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What do you guys consider a healthy rate of lease renewals each month?
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6 years 7 months ago #19626
by Jennifer Sanine
What do you guys consider a healthy rate of lease renewals each month? was created by Jennifer Sanine
What do you guys consider a healthy rate of lease renewals each month? 30% of expiring leases renewing? 40% 60% 80%?
6 years 7 months ago #19626
by Jennifer Sanine
Reply to Jennifer Sanine
Rebekah Rawlins
6 years 7 months ago #19627
by Rebekah Rawlins
Replied by Rebekah Rawlins on topic What do you guys consider a healthy rate of lease renewals each month?
50% is eh, 60% is solid and 70%+ is Target!
Kathleen Denison
6 years 7 months ago #19628
by Kathleen Denison
Replied by Kathleen Denison on topic What do you guys consider a healthy rate of lease renewals each month?
Darilyn Williams.... you wanna chime in?
Darilyn Williams
6 years 7 months ago #19629
by Darilyn Williams
Replied by Darilyn Williams on topic What do you guys consider a healthy rate of lease renewals each month?
70% +
Kathleen Denison
6 years 7 months ago #19630
by Kathleen Denison
Replied by Kathleen Denison on topic What do you guys consider a healthy rate of lease renewals each month?
Every month!
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6 years 7 months ago #19631
by Jennifer Sanine
Replied by Jennifer Sanine on topic What do you guys consider a healthy rate of lease renewals each month?
I work in a community with high professional demographic and In a city with HUGE economic growth driving up home prices so most people leaving are going for job transfers or purchasing homes before they are priced out of the market. Any ideas on retention with those issues?
6 years 7 months ago #19631
by Jennifer Sanine
Reply to Jennifer Sanine
Darilyn Williams
6 years 7 months ago #19632
by Darilyn Williams
Replied by Darilyn Williams on topic What do you guys consider a healthy rate of lease renewals each month?
Jennifer Sanine have you thought about targeted renewal events? No increase if they sign a renewal on a certain day or certain timeframe? We send a “typical costs associated with moving” and “benefits of renting vs buying” letter with our renewal letters. They could save money and stay where they are at
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6 years 7 months ago #19633
by Jennifer Sanine
Replied by Jennifer Sanine on topic What do you guys consider a healthy rate of lease renewals each month?
Yes we totally do all of that except the no increase idea. The market is to hot to do that. But any ideas how to tackle notices because of a job transfer?
6 years 7 months ago #19633
by Jennifer Sanine
Reply to Jennifer Sanine
Jane Nicholson-Gates
6 years 7 months ago #19634
by Jane Nicholson-Gates
Replied by Jane Nicholson-Gates on topic What do you guys consider a healthy rate of lease renewals each month?
50% at least...70% fabulous
Shawna Mae
6 years 7 months ago #19635
by Shawna Mae
Replied by Shawna Mae on topic What do you guys consider a healthy rate of lease renewals each month?
70%
Tracy Stantial-Mahig
6 years 7 months ago #19636
by Tracy Stantial-Mahig
Replied by Tracy Stantial-Mahig on topic What do you guys consider a healthy rate of lease renewals each month?
60-70%
Alexis Gomez
6 years 7 months ago #19637
by Alexis Gomez
Replied by Alexis Gomez on topic What do you guys consider a healthy rate of lease renewals each month?
At least 50%
LaCole Brown Gadson
6 years 7 months ago #19638
by LaCole Brown Gadson
Replied by LaCole Brown Gadson on topic What do you guys consider a healthy rate of lease renewals each month?
It really depends on the market, but 55%-60% is desirable.
Chrissy McCulloch
6 years 7 months ago #19639
by Chrissy McCulloch
Replied by Chrissy McCulloch on topic What do you guys consider a healthy rate of lease renewals each month?
Our area is so transient. I’ve had 45-50% when other communities in our company in other markets are 80%. The job transfers and home purchases are killing us
Aaron Thomez
6 years 7 months ago #19640
by Aaron Thomez
Replied by Aaron Thomez on topic What do you guys consider a healthy rate of lease renewals each month?
Depends on the market, have you used Axiometrics or CoStar projections to know what the expectation is in your specific market?
Connie Garcia
6 years 7 months ago #19641
by Connie Garcia
Replied by Connie Garcia on topic What do you guys consider a healthy rate of lease renewals each month?
60%
Vicki Hurley
6 years 7 months ago #19642
by Vicki Hurley
Replied by Vicki Hurley on topic What do you guys consider a healthy rate of lease renewals each month?
40-50%
Nichole Granquist
6 years 7 months ago #19643
by Nichole Granquist
Replied by Nichole Granquist on topic What do you guys consider a healthy rate of lease renewals each month?
Depends on the market!
Chris Dembitz
6 years 7 months ago #19644
by Chris Dembitz
Replied by Chris Dembitz on topic What do you guys consider a healthy rate of lease renewals each month?
60% is my baseline target. 70% is ideal, but if above 70% we're probably not being aggressive enough (on a conventional property).
Gitana Gil
6 years 7 months ago #19645
by Gitana Gil
Replied by Gitana Gil on topic What do you guys consider a healthy rate of lease renewals each month?
55% to 70% depending on the Market.
Tina Hope Parker
6 years 7 months ago #19646
by Tina Hope Parker
Replied by Tina Hope Parker on topic What do you guys consider a healthy rate of lease renewals each month?
50%
Linda Lippert Bourne Hindmarch
6 years 7 months ago #19647
by Linda Lippert Bourne Hindmarch
Replied by Linda Lippert Bourne Hindmarch on topic What do you guys consider a healthy rate of lease renewals each month?
over 50% and under 75%
Rebekah Rawlins
6 years 7 months ago #19648
by Rebekah Rawlins
Replied by Rebekah Rawlins on topic What do you guys consider a healthy rate of lease renewals each month?
Really! I’d love to hear why under 75%? What’s your insight into that?
Linda Lippert Bourne Hindmarch
6 years 7 months ago #19649
by Linda Lippert Bourne Hindmarch
Replied by Linda Lippert Bourne Hindmarch on topic What do you guys consider a healthy rate of lease renewals each month?
Rebekah Rawlins if we are over 75% my company feels that we left some money on the table with renewal offers
Rebekah Rawlins
6 years 7 months ago #19650
by Rebekah Rawlins
Replied by Rebekah Rawlins on topic What do you guys consider a healthy rate of lease renewals each month?
Interesting! I can see that.
Julie Still
6 years 7 months ago #19651
by Julie Still
Replied by Julie Still on topic What do you guys consider a healthy rate of lease renewals each month?
National average in the survey last year was 48% renewing (a sad number, in my opinion). On a senior property, that number should be 80-85%, and on affordable properties we typically see 70-75% renewals. Hope that helps!
Shelly Hollen Innis
6 years 7 months ago #19652
by Shelly Hollen Innis
Replied by Shelly Hollen Innis on topic What do you guys consider a healthy rate of lease renewals each month?
65%
Shannon Fletcher
6 years 7 months ago #19781
by Shannon Fletcher
Replied by Shannon Fletcher on topic What do you guys consider a healthy rate of lease renewals each month?
50%-60%
Mariaelena Kraus
6 years 7 months ago #19782
by Mariaelena Kraus
Replied by Mariaelena Kraus on topic What do you guys consider a healthy rate of lease renewals each month?
30%
Carl Dean
6 years 7 months ago #19784
by Carl Dean
Replied by Carl Dean on topic What do you guys consider a healthy rate of lease renewals each month?
There doesn't seem like much you can do about a job transfer. We are also in a thriving market and our business model is a light value add where 50% renewals seem sufficient while trying to take advantage of unit upgrades.
Allen Suslow
6 years 7 months ago #19785
by Allen Suslow
Replied by Allen Suslow on topic What do you guys consider a healthy rate of lease renewals each month?
We look for 80%.
Averaging 86% for the first 5 month's of 2018
Averaging 86% for the first 5 month's of 2018