SAN FRANCISCO, CA – According to Kingsley Associates latest analysis, 76.4 percent of apartment renters rated their overall satisfaction as “good” or “excellent” for the 12-month period ending September 30, 2014. Conversely, renewal intent has continued to decline now for the past two quarters and has reached another all-time low. Only 53.5 percent of residents responded that they “probably would” or “definitely would” renew their lease, down .3 percent from the prior period and 6.0 percent since Q4 2011.
“Our data shows that an increasing proportion of residents, who appear perfectly satisfied with their apartments, are expressing hesitation to renew their leases primarily due to price escalation.”
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