6 Weekly Metrics To Drive Real Estate Revenue

As a real estate owner, having a set of key metrics is essential to making informed decisions

Each week, I monitor the following data points to inform pricing and strategy:

• occupancy levels

• leasing activity

• sources of leasing

• trailing 60-day leases

• renewals

• competitor pricing

By doing this, it helps me understand future occupancy and current demand to ensure optimal performance and most importantly, maximizing profitability.

In this newsletter, we'll dive into each of these six key metrics and explore why they're critical to the success of a real estate portfolio.

Occupancy

• Current Occupancy

• Budgeted Occupancy

• 30-Day Occupancy Trend

• 60-Day Occupancy Trend

Monitoring occupancy levels is crucial in determining pricing and strategy decisions for your multifamily portfolio.

Occupancy levels serve as a key indicator of demand and can inform decisions such as rent adjustments, promotions, and marketing efforts. By staying on top of occupancy levels, you can ensure you're optimizing pricing and maximizing profits, while also making informed decisions about how to attract and retain tenants.

Whether you're looking to increase occupancy or boost rent rates, tracking occupancy levels is an essential first step in maximizing the success of your multifamily portfolio.

Leasing Activity

• Total Traffic

• Applications

• Denials

• Cancelations

• New Leases

• Move-ins

• Move-outs

By tracking leasing activity, you can get a clear picture of demand for your properties and make even more informed decisions about pricing and promotions.

Leasing activity can also provide valuable insights into the effectiveness of your marketing efforts and help you identify areas for improvement.

Sources of Leasing

• Drive By

• Property Website

• Listing Site

• Referral

• Listing Agent

• Social Media

Understanding the source of new leases will help you identify which marketing channels are most effective and allocate resources accordingly.

It can also provide insights into tenant demographics and preferences, allowing you to tailor your marketing efforts and offerings to attract the right tenants.

Trailing 60-Day Leases

• Number of Leases by Unit Type

• Average Lease Trade out by Unit Type

• Average Lease Trade out vs. Average Renewal

60-day new leases provides a snapshot of recent leasing activity and can indicate trends in demand for your properties. Monitoring this metric can help identify and address any fluctuations in demand

Renewals

• Leases Expiring by Month

• Percent Expiring by Month (Expirations/Total Units)

• % Renewed by Month

• Renewal Increase Achieved

A high rate of renewals indicates strong tenant satisfaction and loyalty, while a low rate of renewals may indicate a need to improve the tenant experience or adjust pricing.

On the other hand, a high rate of new leases compared to renewals may indicate a high demand for your properties and the opportunity to increase rent.

By keeping track of the balance of renewals and new leases, you can ensure that you're making informed decisions about pricing.

Competitor Pricing

• Occupancy of Competitors

• Rent Change Week Over Week by Unit Type of Competitors

• Specials Being Offered by Competitors

By understanding what your competitors are offering, you can remain competitive and attract tenants.

Additionally, tracking competitor pricing and activity can help you identify opportunities to differentiate your properties and offer unique, value-added services to attract and retain tenants.

Regular monitoring of competitor activity is essential to maximizing the success of your multifamily portfolio

I hope you found this edition valuable, and if so, please share this with your friends and colleagues - the most effective way to grow this newsletter is word of mouth.

All the best,

Jake

If you are interested in the Excel file I use to track this information, simply reply to this email “EXCEL” and I can send it (for free 🫡)