Summary
The 2026 Resident Experience Management Report is a comprehensive analysis that details survey findings from multifamily property managers and renters regarding resident retention. It outlines a significant decline in average retention rates from 60% in 2024 to 57% in 2026, highlighting the financial implications of turnover costs, which can average around $4,000 per unit. The report emphasizes the importance of aligning property managers' perceptions with residents' actual priorities to enhance retention. Critical insights include reasons for turnover, such as high rent and inadequate maintenance, as well as service expectations from community managers. The document provides a strategic framework for improving retention through actionable recommendations, including addressing resident feedback, calculating rent increases judiciously, and enhancing maintenance resolution processes. It concludes that understanding and closing the perception gaps between residents and property managers can lead to stronger community engagement and loyalty.
