What 31% of Renters Say Would Make Them Renew - And Most Communities Still Don't Offer It

31% of renters say they would be much more likely to renew if their community offered a rewards or perks program. Most communities do not have one. Here is what that gap costs - and how to close it.

That number comes directly from Zego's 2026 Resident Experience Management Report - one of the most comprehensive studies on renter behavior in the multifamily sector. It is not a soft preference. It is a documented renewal signal sitting unused in most communities. hoastnow is a marketplace connecting managed residential communities with brands for exclusive, resident-only activations - the fastest way to deliver a perks program without building one from scratch.

The residents who would renew for a perks program are already in your building. The question is whether you give them a reason to stay before someone else does.

Why this stat matters more than it looks

31% is not a niche preference. In a building of 200 units, that is 62 households whose renewal decision could shift based on one variable: whether the community offers something back.

Average retention declined to 57% in 2026, down from 60% in 2024, according to Zego. The industry target is 63%. Every non-renewal costs an average of $4,000 in turnover, marketing, and vacancy loss. At 62 households, the math on a perks program pays for itself before the first activation ends.

Most property managers are focused on maintenance scores, rent competitiveness, and portal adoption. The residents signaling they want a perks program are not being heard - because no one is listening for that signal.

What residents mean by perks

Not discounts on rent. Not a coffee machine in the lobby. Residents who cite perks as a renewal driver are describing something more specific: the feeling that the community is working for them. That management has curated something they could not get anywhere else.

The form it takes matters less than the feeling it creates. A wellness event on the pool deck. A product tasting in the clubhouse. A curated brand experience that shows up where they live, designed around their lifestyle. That is what moves the 31%.

How hoastnow delivers this without a budget

Building a resident perks program from scratch means sourcing vendors, negotiating partnerships, managing logistics, and funding the experience. Most property managers do not have the budget or the bandwidth.

hoastnow removes every one of those barriers. Brands pay to access your residents. The community earns from each activation. Residents experience it as an exclusive perk. Management delivers it with zero operational lift.

The result is a perks program that runs itself - funded by brands, experienced by residents, and credited to management. The 31% who said they would renew for this are already in your building. hoastnow is how you give them the answer before they ask the question.

The compounding effect

Residents who feel valued refer neighbors, leave positive reviews, and tolerate rent increases more readily. The 31% who renew for perks become the residents who tell others why they stay.

That word-of-mouth effect is the one retention investment that compounds over time - and it starts with a single activation that shows residents their community is paying attention.

For more on what drives renewal beyond amenities, read Better Amenities Are Not Keeping Residents. Here Is What Actually Does. And for the full retention strategy picture, this post covers what the winning property managers are doing differently.