Days from Lease Termination to Signed Rental Object
What is it?
Days from Lease Termination to Signed Rental Object is a key performance indicator that measures the number of days it takes from the termination of a lease until a new contract is signed for a rental object. This KPI provides insight into the average timeframe for renegotiating or replacing leases after they have been terminated.
How is it calculated?
Number of days from termination to new signed contract / Number of new signed contracts = lead time in days
* Includes only those items that have a signed contract within the specified period.
Why is it important to follow?
Carefully tracking the number of days from lease termination to signed contract is crucial for efficiently managing property and space leasing processes. By monitoring this timeframe, the organization can identify any delays or bottlenecks in the lease renewal process and take actions to improve efficiency. This helps minimize vacancy periods and ensures continuity in the revenue stream from property leasing. Additionally, it enables better planning and resource allocation to meet tenants' and property owners' needs and expectations for smooth and efficient lease management.
Created by Homepal
6/4/2024
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