Authentic and genuine engagement at the community is a key factor in resident retention.

Resident interactions can happen at any time and at any place around a rental housing community. Housing operators are using these interactions, among other items, to help support resident satisfaction, which can in turn help promote resident retention. 

“Resident retention has become increasingly critical given the direct impact turnover has on vacancy exposure, operating expense, marketing spend and ultimately NOI performance and asset valuation,” says Jessica Murphy, Managing Director with RangeWater Residential. “Strong retention creates greater operational stability while reducing both direct and indirect turnover costs. Across our portfolio, we consistently see that communities delivering strong resident satisfaction, operational consistency and online reputation performance also experience stronger renewal conversion and pricing stability.” 

According to Zego, the average retention rate slipped to 57% in its 2026 Resident Experience Management Report—that’s after hitting 60% in 2024. Meanwhile, TurboTenant’s State of the Rental Industry shows 30% of those surveyed reported having a vacancy for two to four weeks, while roughly 17% reported no vacancies. 

Moves Happen 

Sometimes, there’s nothing that can be done about a community move-out, whether that’s moving for a new job or simply needing more space for a growing family. “We view resident retention as more than simply keeping someone in the same apartment — it’s about maintaining a long-term relationship with our brand and the lifestyle experience we provide,” says Lauren Campbell, Senior Vice President, Asset Management with Crescent Communities. 

According to North American Van Lines, the top three reasons for moving in 2025 were affordability, cost of living and work flexibility. According to the same moving trends report, 15 million Americans moved last year, with California witnessing the most exits. Idaho saw the most moves for the second straight year. 

When a resident makes the decision to move from an Asset Living community, it’s important to understand the reasoning behind it: Job relocation, budget concerns, lifestyle changes, etc. “If the move is because a specific property no longer fits their needs, we actively offer options within our broader portfolio,” says Diana Penn, Vice President, Operations. This includes searching sister communities in the new location, incentives to remain with Asset Living such as waived application fees—and a “welcome back” incentive as an open door to return as a resident. “The goal is to retain the resident relationship whenever possible, even if that means helping them transition to another property within the Asset Living portfolio.” 

The Midwest is picking up steam for movers, according to a Bank of America economic insight report. This includes Indianapolis, Columbus, Ohio, Louisville, Ky., Minneapolis, Cincinnati, Grand Rapids, Mich., and Milwaukee. Meanwhile, coastal and Sun Belt markets saw a decline in population during the past two quarters (’25Q4 and ’26Q1). And the renter turnover rate has declined at a slower pace than homeowners, meaning renters are more likely to stay in their homes. 

Focused Efforts 

Much of the retention efforts begin before actually necessary—at the time of move-in, potentially. “The cost of turnover has reinforced the importance of investing proactively in the resident experience rather than focusing only on filling vacancies. For us, retention starts the day a resident moves in,” Campbell says. And while retention efforts might happen early, the resident experience certainly does start as soon as a prospective resident comes through the door. 

“Resident experience begins well before move-in day. The leasing experience, communication transparency, responsiveness and consistency of execution all shape how residents perceive a community long term,” Murphy says. 

RangeWater focuses on three major areas for the greatest impact: Seamless onboarding experience from application through move-in; timely, high-quality service request completion and follow-through; and a strong sense of community. 

Resident retention also means more than keeping people in their homes. There’s a specific way companies can accomplish this feat. “Retention strategy today extends beyond simply preventing move-outs,” Murphy says. “We evaluate resident feedback, renewal conversion trends, service request performance, online reputation management and engagement data to better understand why residents stay, relocate or choose another housing option entirely.  

“That data helps shape both operational priorities and long-term investment decisions across the portfolio. We also utilize real-time KPI and business intelligence reporting to identify trends early, allowing onsite and regional teams to proactively adjust strategy before resident experience or operational challenges escalate.” 

The physical community is only one aspect of resident retention and the resident experience. “We place a strong emphasis on creating a true community atmosphere where residents not only enjoy the physical property itself but also feel connected to the staff, surrounding neighborhood and overall living experience,” says Calynne Oyolokor, Senior Vice President at FirstService Residential. 

At Crescent Communities, the interactions are what matter most. “We prioritize relationship-building, personalized service and creating experiences that make residents feel valued throughout their lease term. Event programming plays a major role in that strategy,” Campbell says. This can come from more personalized events that foster connections, and “our goal is to create a true sense of community. When residents feel socially and emotionally connected, renewal becomes a much more natural decision.” 

Asset Living’s focus is twofold: Proactive resident experiences and market competition. “We focus intensely on excellent customer service, including rapid responsiveness to maintenance requests and proactive property upkeep. A well-maintained, well-managed community directly reduces avoidable move-outs,” Penn says. Market conditions are also important, according to Penn. “Rather than waiting for a resident to receive a competitor’s offer, we proactively adjust renewal pricing to remain competitive. In soft markets, this may mean offering modest concessions to existing residents (e.g., a reduced rent increase or a one-time credit) rather than absorbing the far higher cost of a vacancy and new lease-up.” Lee Rogers, VP, Operations at Asset Living adds, “Owners are often more willing to accept a 0% trade out or offer concessions due to the aggressive concessions and softening rents we are seeing across many markets. … Owners are willing to keep current rents in place or match current advertised rent and offer a concession for early renewals. We are also seeing the importance of proactive communication and creating a more personalized resident experience throughout the renewal process.” 

Asset Living highlights three pillars that shape a resident’s experience. Those are responsiveness, perceived value and convenience. Residents expect responses within 24-48 hours or trust can deteriorate. Residents aren’t necessarily searching for the cheapest rent on the market but rather a fair value with quality items like amenities and package handling. Apps and portals give residents the ease and flexibility to pay rent and request maintenance items. This tech is also used for more efficient and effective communication. 

Balancing Tech & Touch 

Residents are searching for timely information and quick responses to questions and requests. Technology is stepping in to help facilitate this and act as a springboard for resident satisfaction and an overall positive resident living experience. Tech is also here to enhance operations and what the rental housing industry is already accomplishing, and tech is not created to replace the people aspect of the industry. 

“We utilize digital tools, AI-enabled follow-up, centralized communication platforms and real-time business intelligence reporting to improve responsiveness, streamline operations and identify trends more proactively,” Murphy says. 

Asset Living is using tech to balance that personal touch with items like artificial intelligence to help streamline processes and “help create efficiencies and improve communication, but the personal connection still matters most. Residents can tell the difference between an automated response and a genuine interaction,” Rogers says. 

“We achieve a balance between technology and personal service by utilizing AI tools for efficient communication while ensuring human interactions for key processes, including renewals and engaging rental prospects,” Penn adds. This is done with personal follow-ups and engagement for renewals as well as following up after a maintenance request. 

“We’ve also seen strong results from empowering onsite teams to resolve issues quickly and personalize the resident experience rather than relying solely on standardized responses or technology-driven communication,” Murphy says. Tech is built to enhance the relationship that is already at the community between stakeholders and residents. “Resident retention remains fundamentally relationship-driven,” says Murphy. “Personal interactions, trust in onsite teams and consistent communication continue to be the foundation of long-term resident satisfaction and community stability. The most effective resident experience strategies balance operational efficiency with authentic human connection.” 

Michael Miller is NAA’s Senior Managing Editor.