Glossary of Common Property Management Terms
Stabilized Occupancy Rate:
Occupied units divided by the number of stabilized units. A stabilized unit is one where Mynd has placed or renewed the resident. We also exclude properties that are Vacant Down for Disposition, Legal Issues, or future Offboards.
Lease Renewal Rate:
Percentage of term leases that expire in a given time window for which a term renewal is ultimately signed (even if that happens after the expiration date).
Median Turn Completion Days (Turn Time):
Median days between vacate date and end date for a turn.
Median Vacate to Move-in Days (Vacancy Time):
Duration of vacancy for units with a move-in that month (days).
Delinquency Rate Total (All Charges):
Total balance owed / charges that month. Includes the following statuses: Current, On Notice, Eviction (except for squatters).
R&M Ratio
Operational Expenses (excluding Capex) / All revenue generated.