Berkadia Beyond Insights: Renter Renewals Reverberate highlights the increasing trend of renters opting to renew leases rather than relocate, driven by economic, psychological, and market factors post-pandemic.  

Key Takeaways:

• Post-pandemic, lease renewals have increased due to economic uncertainty and favorable lease terms 
• High renewal rates lead to stable cash flow and reduced vacancies for apartment operators 
• The Northeast region leads in lease renewals due to more adjacent job options and higher costs to relocate within each market, while the West has lower rates due to a more transient population and diverse housing options.