You have shown vacant apartments to 16 potential renters this week and you have taken 4 applications for these vacancies from those you have toured the property. What is your leasing closing ratio in percentage?
I came up with 4/16= 25%. Is this right? Thank you!
Right. :-)
You manage a 125-unit apartment community and have 6 vacancies currently. What is your current occupancy percentage?
I got 6/125= 48% ??
Thanks!
No. It's much smaller than that. 48 % is almost half. A 48% vacancy rate would mean that about 60 apartments would be vacant.
6/125 = 0.048
Move the decimal two places to the right. Or multiply by 100.
So, would it be: 16/4=4% ??
Or, moving the decimals two places would give me, o.4.8
but since there's an 8 next to the 4, does that number turn the 4 to a 5;therefore being 5% ??. Sorry, for the confusion. I want to learn the steps.
Thanks for your patience and your help.
4.8% is right.
You're welcome.
You manage a 125-unit apartment community and have 6 vacancies currently. What is
(your current occupancy percentage?)
Just to make sure, Ms. Sue,
I have an occupancy percentage of 4.8% ?. Thanks you!
Yes. The VACANCY rate is 4.8%.
100 - 4.8 = 95.2%. The OCCUPANCY rate is 95.2%.
You are welcome.
Ms. Sue,
This clarifies the numbers much more where I can understand them. Thank you for the clarification. Have a wonderful rest of the year.
Sincerely,
Esther Munoz
You're welcome, Esther. And a very happy New Year.
To calculate your leasing closing ratio as a percentage, you need to divide the number of applications received by the number of potential renters toured, and then multiply by 100.
In this case, you have taken 4 applications from 16 potential renters.
Closing ratio = (Number of applications / Number of potential renters toured) * 100
= (4 / 16) * 100
= 0.25 * 100
= 25%
So, your leasing closing ratio is indeed 25%. Your calculation is correct!