One of the main purposes of Multifamily Breakfast Club is simple: get smart people in a room to collaborate, swap ideas, and remember you’re not doing this alone. It’s the rare space where “competitors” walk in guarded and walk out as trusted multifamily colleagues who share what’s working (and what’s not). And that matters, because renewals are one of those problems we all fight.
If you think a rent discount is the only way to save a renewal, think again!
At the recent Multifamily Breakfast Club in Austin, hosted by Tara Samuels, industry vet Stacey Hampton of Asset NOI Consulting brought the room back to the truth: renewals do not get saved by discounts. They get saved by doing the basics ridiculously well.
Want to build your own no-discount renewal strategy? Download Stacey Hampton’s 2026 Renewal Strategy Worksheet – the same framework used at the Austin Multifamily Breakfast Club. Calculate your property’s turnover impact and create your custom operational and resident experience playbook.
Below is the data, the strategy, and the best no-discount ideas shared in the room.
The Why: Turnover Is Expensive, Exhausting, and Avoidable (more often than we admit)
Stacey kicked it off with a reality check. There’s nothing that has site teams working harder than turnover.
Using an Austin-market example from the worksheet, one move-out can cost $5,734 when you add up turn expenses, trash-out, make-ready labor, marketing, vacancy, and concessions.
Now zoom out.
If you save 10 notices to vacate in a year:
- Estimated savings: 10 × $5,734 = $57,340
- Estimated value impact: $57,340 ÷ 0.06 = $955,666.67 (using a 6% cap rate and assuming the savings flow through to NOI)
Translation: saving renewals is not just “nice.” It is a value-creation strategy.
The Strategy: Two Levers That Move Renewals Without Discounting
Stacey’s framework was simple and usable. You do not need gimmicks. You need consistency.
We focused on two buckets:
- Operational moves (tactical): reduce friction and fix what irritates people
- Resident experience moves (emotional): increase perceived value and loyalty
1) Operational Moves: Get Proactive, Not Reactive
These were the strongest themes that came up:
- Send renewals on time, and earlier than you think. Several attendees called out that early renewals create time to surface concerns and resolve them before the offer hits.
- Start the renewal conversation well before renewal. A recurring idea was offering 1:1 check-ins 120 days out, so you are listening before the resident starts shopping.
- Prioritize work orders for renewing units. If a resident is deciding whether to stay, speed and follow-through matter.
- Fix the basics fast. One attendee put it bluntly: slow maintenance response times and poor communication are deal-breakers.
2) Resident Experience Moves: Make It Personal
Operational excellence is table stakes. What makes someone stay is often the feeling that the community is worth the hassle of not moving.
- “When residents feel heard and see action, perceived value increases.” That line said it all.
- Create a sense of community. Examples included monthly resident events, including a “happy hour” style gathering.
- Offer a refresh instead of a discount. One of the most practical ideas: a small renewal “refresh” (paint, clean, blinds, etc.) that feels tangible and reinforces pride of home.
- Bring value from outside your four walls. Someone suggested partnering with other industries to create resident perks and programs.
The Bottom Line
Residents usually do not move over a few dollars. They move over friction: broken promises, slow follow-through, and feeling like nobody cares.
Renewals are earned in the moments that seem small: response time, communication, consistency, and whether residents believe the team is paying attention.
Question for you: What’s your #1 no-discount move that saves renewals?
Want more insights like these? Join us at an upcoming Multifamily Breakfast Club event where industry pros share what’s really working.