What Does Leased Percent Mean in Multifamily?

What Does Leased Percent Mean in Multifamily?

In the context of multifamily real estate, "Leased %" refers to the percentage of total rental units that are currently leased out to tenants as opposed to being vacant. It's an important metric for property owners and managers because it indicates the occupancy rate of the property, which is directly related to the revenue being generated. For example, a leased percent of 95% would mean that 95% of the property's units are rented out, while 5% remain vacant. It's a snapshot of a property's performance at a given time and is critical for understanding its financial health and operational success.

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