John Burns on LinkedIn: Bad news for U-Haul. 57% of apartment tenants are renewing their leases… | 23 comments (2024)

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Bad news for U-Haul.57% of apartment tenants are renewing their leases, partly because entry-level home buying is so low.

  • John Burns on LinkedIn: Bad news for U-Haul.57% of apartment tenants are renewing their leases… | 23 comments (2)

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David R. Holley

1w

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Elections have consequences!

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Carla Earhart

Housing Educator / Scholar / Advocate (specializing in Multifamily Rental Housing)

1w

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Could the low turnover be a reflection that these residents enjoy where they are currently living?

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Jon Anderson

Small Business Owner

1w

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I own a moving and storage business and it’s been a horrible two years. Housing market has came to standstill.

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Ben Ketel

Tailwind Investment Group

1w

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Well in an economic contraction, and rent control environments, saying put and eating the nominal rent increase is a better option for tenants.

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Armand Aghadjanians

Self-Storage Investors & Third-Party Managers | RHWCapital.com | StoreHere.com | SiteHawkRMS.com

1w

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Hi John— curious if you’ve seen U-Hauls financials since they are a REIT to confirm.What’s the best source you’ve seen for moving data?Saw someone else explain that current oversupply of new apartments have been absorbed at a quicker than anticipated pace because of pent up demand.Thanks for posting! Just trying to learn more about mover patterns since it’s so consequential to our sector (self-storage)

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Jorge Becerra

Loan Officer / Cell 626-665-3586 /Specialist in: Loans for all 50 states / NMLS 197726

1w

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Don't most Apartment leases go to month to month after the 1st year? Making the data not quite as sticky. Or are the renewals based on brand new 1yr leases?

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Bob Teglia

Certified General Appraiser at Rocket Commercial Real Estate Services

1w

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I had no idea "normal" turnover was actually that high. What a miserable business. Why doesn't every multifamily owner just sell and switch to "real" commercial assets?!? Why deal with the consumer when you can have a rational tenant that is there to make money rather than take yours?

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Paul Morgan

Senior Vice President, Head of Data Science & Research at Carmel Partners

1w

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Interesting that mortgage rates were at all-time lows in 2021 and the turnover rate was the same.

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Katya D.

🟣 SCALE YOUR SALES WITH AI 💻 Founder @ AI Marketing Hub | Top 1% Upwork Expert Vetted 📈 | 8+ Years Supercharging Business Growth. Speaks English, Spanish, French, International Team

1w

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Interesting statistic! It appears to reflect not only on the state of the real estate market but also on the changing tenancy and moving industry dynamics.

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John Burns on LinkedIn: Bad news for U-Haul.

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