Managing Multifamily Rent Growth and Turnover

Few operational levers impact long-term value as directly as rent growth and turnover. The challenge lies in optimizing both without letting one erode the other. Push rents too hard, and you risk increased vacancy and turnover costs. Prioritize retention at the expense of rent growth, and you leave value on the table. 

At Casoro Group, we’ve seen firsthand how nuanced the relationship is between pushing rents and retaining residents. As we continue to invest across Texas and the Sun Belt, we’ve fine-tuned our strategies to optimize both performance and experience. 

Rent Growth Isn’t Just About Raising the Numbers 

Rent growth is often seen as the most straightforward path to increasing NOI, but sustainable growth requires more than just lifting rates. As owners, we want to ensure rent increases are: 

• Backed by market demand and comps 

• Aligned with each property's competitive position 

• Balanced against the cost of replacing a resident 

  
  

We rely on hyperlocal, smart data and leasing team insights to determine when a rent increase supports the long-term value of the asset versus when it risks weakening resident relationships. 

Turnover: A Hidden Drag on Returns 

Turnover is one of the most underestimated expenses in multifamily ownership. Beyond the visible costs—make-ready, marketing, and rent loss—turnover can disrupt a property’s rhythm and reputation. A steady stream of move-outs can signal instability to both future renters and future buyers. 

From an owner’s perspective, minimizing turnover isn’t just about reducing costs—it’s about creating predictability. Predictable cash flow allows us to: 

• Reinvest in the property with confidence 

• Make accurate distributions to investors 

• Maintain strong debt service coverage

   

Retention as a Multifamily Value Strategy 

Our retention strategy is guided by what drives asset value—not just occupancy. That means focusing on: 

• Incentivized renewals that match resident needs with owner priorities (e.g., longer lease terms in exchange for modest increases) 

• Unit improvements that offer ROI in both rent premiums and resident satisfaction 

• Proactive resident engagement communications and service improvements during the lease term to help residents feel seen and valued 

  
  

When Turnover Is Strategic 

Of course, there are times when turnover is intentional and beneficial—especially in value-add plays. When repositioning a unit or a property, a vacancy can create the opportunity to: 

• Significantly increase rents post-renovation 

• Strengthen resident stability and lease performance 

• Move the property into a stronger competitive set 

  
  

In these scenarios, we ensure that every turnover event is part of a larger capital or business plan, not just a leasing te

am decision in isolation. 

Long-Term Value Over Short-Term Wins 

Every operational tactic should trace back to one goal: protecting and growing the value of the investment. That means managing rent growth and turnover not as isolated metrics, but as two sides of the same coin. 

Our philosophy at Casoro Group is simple: smart growth, low friction, and aligned incentives. With the right strategy, we can grow revenue, preserve stability, and deliver on the long-term potential of every asset we manage.