Estimated Renewal Rate

Now that we have multiple years of daily rent and availability updates in HelloData, we can estimate the renewal rates for each floorplan. In our last update, we included metrics for lease tradeout and trend analysis by floorplan. Now we're showing estimated renewal rates too:

The new renewal rate column has been added to the Estimated Unit Mix table. Our approach estimates renewal rates by comparing how many units had lease expirations over the past 3 months to how many units were actually marketed for each property. If we don't see the units that leased last year re-listed this year, we know they likely renewed their leases. This metric will only get better and better over time as we collect more data.