Average amount of leases signed by apartments each month?

What is the average amount of leases signed each month per property and or national average total? does anyone know or can direct me to where I can find out some kind of statistical number.

Thank you,

Andy

Andy, could you infer that using the average national turnover rate and occupancy rate? For example, if you take the total number of units and multiply it by the occupancy, and then multiply that number by the national turnover average, that could potentially give you an average number of turned units per year for that size of community. That wouldn't account for seasonality though, of course. Seems pretty rough to me, but the only way I could think of off hand.

If your intention is to see how your apartment stacks up in regards to health, the better route would be to focus on figuring out average occupancy and length of lease for your properties. A healthy occupancy would ideally be 90% but it really depends on where your property is. For example, if you live in a large city where rentals are hard to find and your occupancy rate is 90% or lower you might want to evaluate the pricing of your property, the condition of the properties, the crime rate in the area, etc. If you live in a small town if occupancy is lower than 90% it can be attributed to low population, low market of renters, etc. A good way to see how you compare is getting intel from other properties nearby that are similar to your own. You can either try getting intel on your own or you can reach out to companies that provide acquisition reviews so that you can see how your properties are performing compared to others. It helps to know how others are doing because it tells you what you are doing right and where you can make improvements.

Acquisition reviews are nice because it provides a wealth of information that you would not have thought of. It could be: pricing, your policy is too strict, your demographic is drastically different than the norm in your area and thus your marketing strategy needs to change.

There are many factors that play into occupancy and average amount of leases signed and if you are really wanting to know how your property is performing it is best to get to know your competitors.