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Apartment renters aren’t moving much

September 13, 2016

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.

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Second Annual Blue Vault Broker Dealer Educational Summit 2016
2016 Broker Dealer Educational Summit 2016
May 30, 2016

Best Due Diligence meeting in the industry. No sales pitches, senior level decision makers, meaningful discussions and the Broker Dealer networking sessions were especially useful. Thanks to Blue Vault for raising the bar!