Here at Pear Tree Property, we offer a $25 a month discount to new residents if they sign a two year lease. If the resident leaves before the lease is up, then that $25 a month is added to their account balance when we get a judgement. It sounds like a simple win-win scenario – the resident pays less and we have a lower turnover.
How does it pan out in practice? Does providing an incentive to sign a two year lease make sense? This post is letting out a bit of my inner stats geek, but I hope you find it interesting.