Kingsley Associates’ latest analysis reveals that renter renewal intent and value for amount paid have continued to decline since Q4 2013. Only 52.3 percent of residents responded that they “probably would” or “definitely would” renew their lease, down 0.9 percent from one year ago. Similarly, only 53.9 percent of renters feel their apartments are worthy of their current rental rate, down 0.6 percent over the same period.
A few additional highlights from our Q2 2015 findings include:
- The greatest decrease in value for amount paid occurred in San Francisco (down 9.0 percent from one year ago)
- 56% of renters cited rental rate as a top decision factor during the lease renewal process
- Apartment floor plans and community amenities are cited as top renewal decision factors twice as often today versus three years ago