Apartment renters aren’t moving much
Apartment dwellers are staying put in record numbers, a brand of loyalty that’s helping drive up rents.
The share of renters opting to renew their leases hit an all-time high of 53.8% through the first seven months of the year, up from 52.9% in 2015, according to new data from property management software provider RealPage.
A more typical 45% of renters renewed their leases annually in the mid-2000’s, a share that roughly held steady through the recession as job losses forced many to downsize or move in with relatives, says RealPage Chief Economist Greg Willett.
The Blue Vault Summit could not have been more perfectly timed. This gathering of the Broker Dealer and Sponsor communities provided insightful and open discussion from several vantage points. These conversations are paramount, especially in a time of significant regulatory change.