According to the latest survey from over 3.5 million apartment renters, the market is looking rosy. Residents are reporting to be happy where they’re living, in fact, 76% of residents indicate that their overall satisfaction is “good” or “excellent” even. And though resident satisfaction remains steady, there has been a noticeable dip in renewal intentions across the rental markets in the United States.
Only 51.1% of residents responded that they “probably would” or “definitely would” renew their lease, which is a new low, despite their satisfaction with where they’re living. So, if residents are happy with where they’re living, why aren’t they renewing? This infographic details some of the changes between 2015 and 2016 that, if unnoticed, could be the reason that residents aren’t renewing.
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