What Does Exposure Percent Mean in Multifamily?

What Does Exposure Percent Mean in Multifamily?

Exposure % refers to the percentage of rental units that are at risk of becoming vacant or are already unoccupied. This metric not only includes current vacancies but also units that will soon be available because current leases are ending and the tenants have given notice they will not be renewing. It's a measure of potential income loss that helps property managers anticipate and plan for upcoming vacancies. It's an indicator of how much of the property's total rentable space is exposed to the market and not generating income.

Because HelloData only uses publicly available data to power our interface and predictive algorithms, we cannot track units that are offline for work orders or make-ready work. In place of occupancy, we used Leased % and Exposure % provide similar information, but without displaying any data that prospective residents could not see themselves by navigating to the leasing page of a property website.

How is Exposure Percent Determined

We identify the units that are not going to renew with a script that selects move-in dates 6 months into the future on the leasing pages of each property website. It clicks into each month to identify units that will be available for move-in during those months, and we capture the date on which those units will be available. Those future availabilities populate the "Future Availability" graph at the bottom of the "Rent Comps" tab in the UI.