The multifamily industry spends an enormous amount of energy on renewals, and most of that energy gets deployed in the last quarter of a lease term. Renewal offers go out 90 to 120 days before expiration. Pre-renewal surveys get fielded. Retention teams start making calls. By that point, in a significant share of cases, the decision has already been made. Most controllable churn decisions form within the first 90 days of a tenancy, which makes move-in the most underutilized retention window in multifamily operations, and one that most operators treat as a logistical process rather than a strategic one.The economics of getting this wrong are substantial. The average cost to turn a single apartment unit is $3,872 when accounting for make-ready expenses, vacancy loss, leasing commissions, advertising, and concessions, according to aggregated operator data across more than 50,000 units. The National Apartment Association puts turnover costs closer to $4,000 per unit, and RealPage data indicates apartment turnover costs have more than doubled since 2020...
RSK: One of the few problems with this is it is hard to get to all the requests in the 90 day period.
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- - Volume: 26 - WEEK: 35 Date: 8/25/2026 8:35:00 PM -