Move-outs
What is it?
The KPI shows the total number of times that tenants have moved out of different rental properties within a property during a specific time period. It gives a quantitative indication of how often tenants choose to end their leases and leave the property.
It is an important metric for real estate companies because it helps them understand tenant mobility and the attractiveness of their rental property. It can be used to assess tenant satisfaction, the property's turnover and the need to find new tenants to fill the vacant spaces.
How is it calculated?
Total number of agreements
* Includes only those contracts where the end date falls within the specified time period.
Why is it important to follow?
One should follow the key figure for several reasons:
Measuring tenant satisfaction: The number of evictions can give an indication of how satisfied tenants are with the property's quality and service. A high number of evictions may signal problems that need to be addressed, while a low number may indicate that tenants are happy and want to stay.
Plan for vacancies: By tracking the number of evictions, the real estate company can predict when there will be vacancies and plan to fill them. This is important to avoid loss of income and maintain a high occupancy rate.
Efficiency in management: The key figure can provide insights into the property's management efficiency. A high number of evictions may indicate that there are problems with maintenance, customer service or other factors that affect the well-being of tenants.
Marketing strategy: By analyzing why tenants are moving out in greater numbers, the real estate company can adjust its marketing strategy and make improvements to retain existing tenants and attract new ones.
In summary, this key figure helps the real estate company to understand the tenants' behavior and needs, which in turn can lead to more efficient management and better business results.
Created by Homepal
9/1/2023
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