The latest news of interest to multifamily owners of apartment buildings in Oregon and Washington.
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Thursday, May 20, 2010
Why Are Landlords Seeing Record High Retention Rates?
Q1 REIT reports coming in are showing surprisingly high retention rates. Multifamily Executive reports that Denver-based AIMCO experienced a retention rate of 68 percent in the first quarter, up 120 basis points over the first quarter of 2009 and an all-time high for the company.
On a quarter-to-date basis, Memphis-based Mid-America Apartment Communities saw its turnover drop 7.8 percent. And in the 12 months prior to that, Mid-America’s turnover dropped from 60.6 percent to 56.9 percent, the lowest they had ever seen. What's behind the shift? Read more > > >