Survey Reveals the Best Incentives for Retaining Tenants

  • By J.P. Vaughan

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

By J.P. Vaughan

Born in 1935, J.P. was the only child of Joe and Ora Vaughan, who both worked at the Craddock-Terry Shoe Factory in Lynchburg. From his father, J.P. inherited a strong work ethic and a remarkably high level of empathy for other people. As a boy, J.P. spent most of his days playing ball with friends at his beloved Miller Park, a short walk from his Park Avenue home. In 1945, their sandlot games took on mythic proportions when Happy Lee, the park’s playground director, pulled together a group of blue collar boys to form the Mighty Mites football team. J.P. and the rest of the boys adored their young coach, who taught them how to play as a team and to always look out for each other. After two undefeated seasons and even besting the Shoeless Wonders, the team went on to win the Pop Warner Santa Claus Bowl in Philadelphia in 1948 to become national champions.