Contactless Leasing and How it Helps
Contactless leasing is a process of renting out apartments or units in a multifamily property without the need for in-person interactions between the tenant and the staff, or the use of physical paperwork.
Multifamily Apartment Turnover Rates Continue to Fall
A recent report by CBRE reveals that the turnover rate for multifamily housing has dropped to 47.5%, the lowest level in two decades. Data from RealPage shows a decline of 80 basis points, supported by evidence from six major real estate investment trusts (REITs): Major REITs Reporting Lower Turnover Rates: AvalonBay, Camden, Equity Residential (EQR), MAA, and UDR reported a lower turnover rate in Q1 2019 compared to 2018, with an annual average drop of 2% to 42%.