See the Potential
It's the total rent we COULD get if all leaseable units were occupied and current.
What is gross potential rent?
The rent that we didn't get from our empty units is totaled on this line of the DOS.
What is vacancy loss?
They form the first number in the "sales funnel".
What are leads?
This DOS line shows all the rent we billed but didn’t collect.
What is accounts receivable?
It's a numbers-based meeting that occurs every Monday—unless we get one of those pesky holidays.
What is the Metrics Action Session?
When Creekside Villas temporarily reduces the rent to fill vacants more quickly, the lost money hits this line of the DOS.
What is loss-to-lease?
It’s the process of getting a vacant unit ready for a new resident.
What is turnover maintenance?
Tours attended ÷ Leads (for a time period)
This legal process helps us move out a tenant who doesn’t pay.
What is eviction?
"Measure Performance" is step #2 of this Heritage Hill core value.
What is the value engine?
When Creekside Villas raises the rent above market because availability is limited, the new money hits this line of the DOS.
What is gain-to-lease?
Units which have been vacant and ready for multiple weeks—our top leasing priority!
What are stale units?
When you offer a special to close a tour, the dollar amount hits this DOS line.
What is concessions?
We do this after three days of no contact from a delinquent resident.
What is a door knock?
Numbers that are below target and need to be read aloud for transparency.
What are red metrics?
Units which are marked like this in the software are not leaseable, and therefore aren't usually counted in a property's GPR.
What is "down"?
When you sign a bunch of these, you will limit your property’s move-outs.
What are renewals?
An LC strives to get this metric above 40%.
What is closing ratio?
They don’t DIRECTLY help NRI, but they do penalize residents who miss the rent due date .
What are late fees?
A number which helps you forecast your property's future results.
What is a leading metric?
It's the dollar amount that our investors expect a given floor plan to be worth.
The inspection that allows for the PM+MM to forecast and plan the turn for a specific unit.
What is an NTV walk?
They're people who have started the online application process, but haven't finished it yet.
What are hot prospects?
A delinquent resident might give us THIS to let us know when they plan to take care of a past-due balance.
What is a promise-to-pay?
You might have to ask "Why?" five times to get to this.
What is the root cause?