Queue position for lease
What is it?
The key figure shows the average position that a person or an interested party must have in a housing queue to be allocated a rental object during a specified period of time. It gives a quantitative indication of the competitive situation on the housing market and how desirable the rental properties are.
The higher the average placement required, the more competitive the housing market is, and it may be more difficult for interested parties to access desired rental properties. This ratio is often used within to understand and communicate the relative difficulty of securing leases
How is it calculated?
Summarized queue position / Number of allocated objects = purchase location/allocated object
* Includes only the purchase locations where the tenant has been assigned the object within the specified time period.
Why is it important to follow?
One should follow the key figure for several reasons:
Customer Satisfaction: By monitoring this KPI, the leasing department can assess how quickly and efficiently they are assigning rental properties to interested parties. A shorter average placement may indicate higher customer satisfaction and a faster rental process.
Efficiency: The key figure provides insights into how efficiently the rental department handles applications and the allocation of rental properties. It can help identify areas where improvements are needed to increase process efficiency.
Communication: The average position in the housing queue can be communicated to stakeholders to give them an idea of how competitive the market is. This helps them understand what is required to access desired rental properties.
Planning: The key figure can be used to plan and strategize the rental business. If the average placement is high, it may be necessary to take steps to improve accessibility and speed up the allocation process.
Goal achievement: It may be part of the rental department's goal to reduce the average placement in the housing queue to improve availability and customer satisfaction. The key figure helps measure progress towards these goals.
In summary, the key figure provides valuable information about the efficiency of the rental process and the competitive situation in the housing market. It helps property management make informed decisions to improve customer satisfaction and plan rental strategies.
Created by Homepal
9/1/2023
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