
With Renewal Increases Slowing, Retention Starts With the Details
For the past few years, property teams could lean on one reliable lever: the rent increase at renewal. With asking rents soft on new leases, the modest increase a current resident accepted when staying put became a dependable source of growth. However, Yardi reports that average renewal rent growth dropped to 1.7% in September, its lowest point since before 2020.
Retention is now carrying more of the weight. This post looks at why renewal increases are doing less, what the most improved communities changed, and how package handling fits into a retention plan that works.







