We have the answers all management companies need to know to retain renters and secure more leases. J. Turner Research, in partnership with Joshua Tree Conference Group, conducted a research study for AIM Conference 2019, Why Renters Leave? Don’t Beat Yourself Up! This study answers the critical question, why renters leave and the factors that impact their decision to leave, some of which may be beyond your control!
We analyzed 21,102 prospect surveys in March 2019 for this study, and over 39% are moving from one apartment community to another and 19% are moving next door to another apartment. The study presents an insight into renters’ immediate motivations, frustrations, and authentic attitude towards their existing apartment while they are actively involved in the apartment search process. The findings can be used by management to meet evolving renter expectations.
The Million Dollar Questions
What frustrations motivate a resident to move?
How can you use a resident’s unmet expectations as tools to entice others to your property?
How can you affect a resident’s decision to move to another community?
How does the online reputation of an apartment community affect their move?