Renewal Retention in 2025 and Beyond
Sara Graham
Host
Founder + CEO, Six Dots, Multifamily Growth Advisor, Fractional CMO/CXO, PropTech + CX Champion, CHIEF Member
Key topics:
- What centralization models have worked for renewal retention
- How has marketing and leasing transformed to focus on renewals
- What factors are helping with renewal
Executive Summary
Resident retention remains a cornerstone of success in multifamily property management, with a direct impact on revenue stability, operational efficiency, and long-term asset performance. As competition increases and leasing dynamics evolve, property operators must leverage data, technology, and centralized systems to stay ahead. This webinar outlines innovative strategies and tools—such as multifamily revenue management software and resident retention software—that help optimize lease renewals.
Here are five key takeaways:
Centralization Enhances Efficiency
Centralized leasing and renewal processes—powered by multifamily property management software—streamline operations, reduce manual work, and enhance resident engagement. Tools like lease management software and lease renewal optimization software play a pivotal role in eliminating inefficiencies and improving consistency across portfolios.Personalization Drives Retention
Leveraging data from apartment revenue management software allows for tailored lease renewal offers that better reflect resident behavior and market demand. Customized pricing and targeted outreach using rent optimizer tools lead to higher lease acceptance rates and improved resident satisfaction.AI and Automation Improve Decision-Making
AI revenue management and rental pricing software use predictive analytics to identify renewal risk, automate communications, and optimize rent pricing in real time. These tools empower BTR operators and multifamily managers to take proactive measures before leases expire. One of the standout trends discussed in the roundtable is the increasing reliance on artificial intelligence to drive decisions in the renewal process. By utilizing Al, property managers can analyze vast amounts of resident data to predict renewal probabilities and identify at-risk residents. This predictive capability allows for more personalized retention efforts, whether it’s through tailored renewal offers or targeted engagement strategies.Operational Shifts Are Key
Modern leasing and marketing teams are evolving to prioritize resident retention alongside new lease acquisition. By using multifamily engagement platforms and lease optimization software, teams can nurture long-term relationships and maximize lease conversions with minimal churn.Best Practices from Leading Operators
Case studies from successful build-to-rent operators show that strategic incentives, dynamic pricing models, and proactive outreach—supported by leading revenue management software for apartments—can significantly boost renewal rates and increase overall multifamily revenue.
Whether you’re evaluating lease software management tools, apartment pricing optimization software, or broader revenue management services for apartments, embracing intelligent technology and centralized workflows is essential for thriving in today’s rental market.
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Explore the future of multifamily housing
The multifamily housing sector is facing an ever-changing landscape, where resident retention has become a pivotal element of success. This white paper explores insights from an executive roundtable, featuring industry leaders who shared their strategies for increasing renewal retention. The conversation delved into the intersection of technology, human engagement, and operational improvements that are reshaping how property owners and managers approach resident retention. From embracing automation and Al to refining pricing strategies and incentivizing maintenance staff, this paper highlights actionable steps that organizations can adopt to boost renewal rates and long-term occupancy stability.
Get the Key Strategies for Optimizing Resident Retention in the Multifamily Market
In today’s competitive multifamily housing market, resident retention is more than just a key performance indicator-it is a fundamental aspect of long-term business sustainability. With fluctuating rent growth, increasing operational complexities, and evolving resident expectations, property managers must adopt a holistic approach to resident retention.
Best Practices for Improving Resident Retention
Based on the roundtable discussion, the following best practices are recommended for enhancing resident retention in the multifamily sector:
1. Focus on Resident Satisfaction Early:
As Ray from Real Foundations noted, providing excellent service well before the renewal decision is made can significantly impact retention. Proactively addressing resident needs and ensuring high satisfaction levels through maintenance requests, community events, and personalized communication can increase the likelihood of a positive renewal decision.
2. Leverage Technology to Remove Friction:
Automating routine tasks like renewal offers, follow-up emails, and payment reminders can remove friction from the renewal process. Additionally, using data to track residents’ behaviors and preferences helps in creating personalized experiences that resonate with each individual resident.
3. Centralize Key Functions for Consistency:
Centralizing revenue management, leasing, and renewal operations, as discussed by Steve Boyack-ensures that all teams are aligned and working toward the same goal. This consistency across the board creates a seamless experience for both residents and property managers, increasing the chances of securing renewals.
4. Incentivize and Train Maintenance Teams:
The role of maintenance teams in resident retention should not be underestimated. Offering incentives for maintenance staff based on renewal rates and fostering a culture of excellent service can lead to higher satisfaction and retention. As Ken from Amly mentioned, maintenance teams often have the closest relationships with residents, and their ability to quickly resolve issues plays a critical role in retention.
