According to a report by Morningstar Credit Ratings LLC, resident retention is up in single-borrower, single-family rentals. Back in 2017, the retention rate rose to over 70 percent in the spring. The most recent 2019 report shows that retention rates have grown significantly since then. In March, it was 80.2 percent! For real estate investors, resident retention is one of the most crucial elements to success.
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If we want to be at our very best as real estate investors, we've got to maximize our earning potential. Your passive income is affected by a lot of different factors: risk management, maintenance, mortgage, insurance, expenses, rent, and, yes...your residents.