Beekin ®’s Post

📊 Renewal Ratio vs. Tenure Did you know that tenant retention improves as tenure increases—but not in a straight line? This chart illustrates a fascinating insight: 🔹 Tenants with less than 6 months of tenure have the lowest renewal ratios. 🔹 Renewal rates steadily grow between 7-72 months of tenure. 🔹 Tenants who have stayed 73+ months are the most likely to renew their leases, with a renewal ratio close to 70%. 💡 What does this mean for property managers? Longer tenure often signals stronger resident satisfaction and commitment. Identifying and addressing the needs of tenants early in their leases could improve these ratios and reduce turnover costs. 🔗 Curious how Beekin can help you optimize tenant retention? Explore our AI-driven insights and tools here: https://beekin.co/ #Beekin #LeaseRenewals #ResidentRetention #DataDriven #PropTech #MultifamilyHousing

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