About 85%- 90% occupancy is the sweet spot. It shows your rates aren't so low that you're sitting full but still have a normal turn around with new tenants coming in. Be sure to look at what unit size you have the most vacancies in and maybe reassess their prices or see what creative things you can do to get them filled.
Good stuff gents, thnx
@chriscashman1590 - Happy it made an impact! What other areas would you like us to delve into in our upcoming videos?
How many vacant units (percentage of stock) should a facility try to keep in inventory at any given month?
About 85%- 90% occupancy is the sweet spot. It shows your rates aren't so low that you're sitting full but still have a normal turn around with new tenants coming in. Be sure to look at what unit size you have the most vacancies in and maybe reassess their prices or see what creative things you can do to get them filled.
2022 ad 2023 were great out here. 2024 has been terrible
In regards to what though? Occupancy?
Where are you located? I'm always interested in specific market trends and changes!