Lease Applications & Cancellations

Analyze your comps' cancellation rates by floorplan or unit type

One of the things we've been hearing from our clients is that the number of denied/cancelled lease applications is rising in many markets. Many units receive several applications that are either denied by the manager or cancelled by the applicant before they actually lease. To help clients understand these trends better, we just released new metrics on lease applications and cancellations.

Now when you open the Estimated Unit Mix or the historical pricing for a specific unit, you'll see the number of applicants and the number of cancellations we saw before each unit leased. For applications/cancellations, we count how many times a listing was taken down and re-entered the market before being taken down permanently (meaning the listing stayed off the market for 90+ days).

Since HelloData is committed to only using 100% public data, we of course can't see the actual leases signed... but through clever analysis applied to data collected daily from property websites, we get remarkably close!

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