The Retention Argument
Multifamily turnover runs at roughly 40-50% of units a year, and each turn costs an estimated $4,000. The usual response, another concession, another month free, keeps getting more expensive. This guide makes the case for something different: an investment that protects revenue now and builds asset value you can point to later.
What turnover costs one Class A building
45% Annual resident turnover (Zego)
68 units Turned per year on a 150-unit building
$3,900 Average cost to turn a unit (Zego)
$265K Walking out the door every year
Every resident who renews is $3,900 you don’t spend. The business case shows how Alvéole helps you keep more of them.
The challenge
Every new building has the same amenity list. Gym, coworking, lounge, pool, coffee bar. They help lease units, but once every building nearby has them, price becomes the only thing left to compete on. That’s how Class A ended up as the deepest discounter.
Your investors are asking harder questions. LPs and due diligence questionnaires (DDQs) are moving past portfolio policies and starting to ask what’s happening at each property, including nature and biodiversity. GRESB doesn’t score biodiversity yet, but the direction is clear.
What you'll discover
- Why concessions win the lease but not the renewal, and what gives residents a reason to stay instead
- How to run the same resident program at every property, without adding headcount or relying on a strong on-site team
- How participation data gives you an earlier signal than renewal rates, so you see engagement trends before notices arrive
- How the same program builds asset-level nature data for LP questions, DDQs and future GRESB requirements
- A 5-question checklist to pressure-test your retention story before the next renewal cycle
How Alvéole keeps residents
- A reason to gather. A beekeeper opens the hive every three weeks, and neighbours who’ve never spoken stand side by side.
- Something that’s theirs. Residents name the queen, help with the harvest and take home honey with their building’s name on the label.
- No extra work for your team. We run everything: installation, visits, events and resident communications.
- Data you can report. Participation, tracked building by building, plus nature data measured on site.
About Alvéole
Alvéole runs managed beehive programs on more than 2,200 commercial and residential buildings in 70+ cities. We handle everything: installation, beekeeper visits every three weeks, resident events and communications. Each program gives residents a reason to gather and gives asset managers two things to report: participation, building by building, and nature data measured on site.
