Renewal Rate
The share of expiring leases that renew.
Definition
Renewal Rate is The share of expiring leases that renew. In day-to-day operations, it matters when residents are renewing, leaving, or turning over fast enough to change the shape of future demand.
Operationally, it matters because movement metrics show whether the operation is keeping good residents or constantly replacing them. They are useful when pricing, service quality, and renewal strategy are being questioned together.
Use cases
Use Renewal Rate to measure whether residents are staying for the right reasons.
Review Renewal Rate when the team needs to connect renewal and churn behavior back to pricing or service quality.
Track Renewal Rate so operations can anticipate future move-out pressure before it shows up as vacancy.