Unlocking Higher Renewals: The Secret Weapon of Zero Deposit™
Resident retention is the key to stabilizing revenue and reducing operational costs, yet lease renewals remain one of the biggest challenges for property operators. Rent increases, competitive move-in offers, and renter frustration with traditional security deposits all contribute to turnover.
But what if there was a way to flip the script—turning security deposits into a renewal incentive rather than a point of friction? That’s exactly what we explored in our on-demand webinar, “Rethinking Renewals with Zero Deposit™.”
Meet the Experts Behind This Game-Changer
Hosted by Tessa and Lori, senior advisors with deep expertise in multifamily leasing and risk management, this webinar dives into a win-win-win strategy for operators, residents, and ownership groups. With real-world examples and a deep dive into the numbers, they reveal how Zero Deposit™ is helping properties increase lease renewals, keep residents happy, and enhance asset protection.
The Challenges Standing in the Way of Renewals
1. Rising Rent = Rising Frustration
As rent prices continue to climb, residents feel the squeeze, making them hesitant to renew their lease. Any increase in their monthly housing cost—whether from rent, deposits, or fees—can push them to explore competitor offerings.
2. Competitors Are Offering Incentives
Many properties struggle with resident retention because new lease incentives and concessions from competitors look more attractive than staying put. While property managers focus on renewal efforts, renters are browsing “move-in specials” elsewhere.
3. Deposits Don’t Cover the Risk
Traditional deposits—typically $200 to $500 per unit—fail to cover real damages or unpaid rent. For operators, that means increased financial risk when residents move out, leading to unexpected expenses.
The Solution: Turning Security Deposits into a Retention Strategy
So, how do operators turn the challenge of deposits into an opportunity for renewals?
Register Now for this OnDemand Webinar
For more thought-provoking insights from industry leaders, tune into Andrew Bowen’s own podcast, Unscripted, where he continues to explore trends shaping multifamily and rental housing.