Which incentives are most effective in convincing existing residents to renew a lease? When the best time is to offer these perks?
Here are the Key Findings from a recent survey from Software Advice (a website that reviews property management systems) of approximately 4,600 former and current renters:
- A discount on rent is the most preferred monetary incentive;
- Gym memberships and covered parking are the most preferred non-monetary incentives; and
- The best time to offer incentives is during the initial lease signing or right before a resident’s lease expires
Get all the details in the SlideShare below:
You can read the full report here: The Most Convincing Incentives for Retaining Tenants | IndustryView