Apartment renewal rates hit 10-year high

The apartment industry reached a 10-year high in lease-renewal rates in February, a new report from MPF Research shows. Last month, 55.1% of expiring leases were renewed.

MPF’s analysis of lease transactions from its parent company, RealPage, reveals that February 2016 renewals were up 0.1% from those of February 2015, which makes it the 33rd year-over-year increase in the past 34 months. Additionally, there was a 5.0% increase in monthly rents for leases renewed last month.

Read More Here on the Multifamily Executive 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s