In this episode of Ironclad Underwriting, Jason Williams and co-host Frank wrap up The Cost of Vacancy series by tackling a critical question: when does it make more sense to keep a resident instead of turning a unit? They break down the real math behind renewals, concessions, and turnover costs while sharing real-world stories from managing multifamily properties across multiple markets. The conversation highlights how safety, tenant quality, and strong property management play a major role in retention and long-term cash flow.

Topics Covered

• Retention vs. turnover and how each impacts NOI
• The true cost of vacancy, make-ready, and lost rent
• When below-market rent can be the smarter financial move
• Concessions as a renewal strategy and when they backfire
• Occupancy thresholds and los ...