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Table 4. Retaining Tenants and Property Maintenance of Multifamily Properties by Number of Units in Property

Table 4.

Retaining Tenants and Property Maintenance of Multifamily
              Properties by Number of Units in Property				

                                         Total                       50 or
                                         United  Less than 5 to 49   more
                                         States   5 units   units    units

Reasons for minimizing tenant turnover				
  Trying to minimize tenant turnover      55.2%    52.1%    67.6%     80.2%
     Maintain a stable tenant population  66.4%    61.9%    80.2%     86.4%
     Retain desirable tenants             75.4%    75.8%    74.4%     73.8%
     Minimize turnover costs              65.7%    63.7%    71.3%     78.7%
				
Techniques to minimize tenant turnover				
  Rent concessions or reductions          27.2%    28.1%    24.2%     25.9%
  Increasing level of maintenance         40.5%    38.5%    46.6%     50.4%
  Redecorating or upgrading units         46.5%    44.4%    52.0%     59.9%
  Making other improvements               41.1%    38.8%    46.6%     62.1%
  Improving services to tenant            35.3%    31.4%    44.9%     67.0%
				
Trying to increase tenant turnover         0.7%	    0.6%     1.1%      1.3%
				
Current maintenance program				
  Most maintenance postponed               6.0%	    6.1%     5.9%      2.1%
  Minor problems postponed                12.5%	   12.9%    11.0%      5.7%
  All maintenance handled immediately     81.6%	   81.0%    83.0%     92.3%
				
Capital improvements in last 5 years      52.1%	   52.1%    50.9%     61.9%
  Upgrading heating system                44.8%	   46.1%    40.0%     35.8%
  Replacement of kitchen facilities       48.1%	   46.9%    54.6%     45.3%
  Renovation of bathroom facilities       49.1%	   49.6%    48.8%     34.3%
				
Work done to unit in last 5 years         92.8%	   93.1%    91.4%     91.4%
  Interior painted                        82.3%	   82.3%    82.5%     81.7%
  Some/all kitchen appliances replaced    43.9%	   45.2%    38.7%     37.2%
  Some/all bathroom fixtures replaced     37.1%	   38.7%    30.7%     25.3%
  Carpets replaced                        39.2%	   39.1%    39.4%     44.1%
  Heating/air conditioning repaired       35.9%	   37.1%    30.6%     30.5%
  Building roof repaired/replaced         39.8%	   38.9%    44.4%     39.7%
				
Current or planned changes to property     9.9%	    8.6%    14.4%     24.8%
  Converting to condo/coop ownership       3.8%	    4.5%     1.6%      4.5%
  Converting units to non-residential use  3.5%	    4.4%     1.5%      1.2%
  Renovating or replacing features        84.8%	   82.5%    90.6%     89.8%
  Combining units to make larger units     2.5%	    2.9%     1.5%      2.6%
  Working to change tenant population1     3.4%	   11.0%    18.8%     20.6%

Note: For some items in this table, the percentages are given only for
the top categories and may not add to 100%.

Source: U.S. Census Bureau | Property Owners and Managers Survey (POMS) |  Last Revised: 2012-08-31T12:06:19.647-04:00