Kingsley Associates Reports Renters Are Hesitant to Renew
- Nov 04, 2011
Atlanta—According to Kingsley Associates’ latest resident survey, apartment resident renewal intent is at its lowest point since 2008. According to the survey, only 60.8 percent of current residents said they would “definitely” or “probably” renew their leases.
Despite these results, overall resident satisfaction has increased. Of those surveyed, 76.3 percent report their overall satisfaction as “excellent” or “good,” up from 76 percent last quarter.
Currently, New York continues to lead markets in residential renewal intent, despite having decreased from 78.9 percent last quarter to 77.6 percent this quarter. Washington, D.C. is one of the few markets that doesn’t follow this trend, with 59.6 percent of residents indicating their intent to renew, up from 56.9 percent last quarter.