4 Weekly Multifamily KPIs That Successful CRE Firms Are Tracking (and You Should Too)

When it comes to success in commercial real estate (CRE), having the knowledge and skills to be able to quickly adapt to an ever-evolving market is crucial. The only way to know whether you’re over or underperforming is monitoring key performance indicators (KPIs). In order to stay on top of performance metrics, multifamily property owners and managers must do more than check in once a month. Rather, you should remain vigilant by tracking weekly KPIs.

Continue reading to uncover the importance of weekly KPI tracking and identify the CRE metrics that deliver the greatest impact when monitored weekly.

Table of Contents

→ Why Weekly KPI Tracking Matters

→ 1. NTV Units Rented/Unrented

→ 2. Traffic by Source

→ 3. Current Exposure

→ 4. Weekly Net Move-Ins (Move-Ins minus Move-Outs)

Asset management software, like Lobby CRE, has revolutionized how multifamily firms access and use their operational and financial data. Operating as an all-in-one, cloud-based solution, Lobby CRE is designed to manage and optimize cashflow for faster returns to the Sponsor and Investors. Schedule a Lobby CRE demo today!

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Why Weekly KPI Tracking Matters

In today’s multifamily market, where demand fluctuates and trends evolve rapidly, monitoring KPIs on a weekly basis provides a more granular view of property performance. Property owners and managers gain real-time insights into market conditions and tenant behavior, enabling prompt decision-making and allowing for immediate adjustments to leasing strategies, rental rates, and operational issues. Weekly tracking also enables early detection of trends, facilitating proactive measures to capitalize on opportunities or mitigate adverse impacts. Additionally, it provides a more detailed overview of property performance, allowing for targeted interventions to optimize occupancy rates, rental income, and tenant satisfaction. This approach ensures agility in a competitive market, with the flexibility to adapt swiftly to emerging opportunities and evolving dynamics.

Here are four essential weekly KPIs that multifamily property owners and managers should track to drive success.

1. NTV Units Rented/Unrented

Net Units Rented/Unrented provides insights into the balance between occupied and vacant units on a weekly basis. When tracking NTV (Notice to Vacate), property managers can assess occupancy levels in real-time and adjust leasing strategies accordingly. For example, if the number of Unrented Units exceeds expectations, property managers can launch targeted marketing campaigns or offer incentives to attract tenants, thereby minimizing vacancies and maximizing rental income.

2. Traffic by Source

Monitoring weekly traffic to multifamily properties, along with the source of that traffic, helps property managers gauge the effectiveness of marketing efforts and identify high-performing channels. Through analyzing traffic patterns on a weekly basis, property managers can allocate marketing resources more effectively, focusing on channels that yield the highest conversion rates. Whether it’s online platforms, referrals, or traditional advertising, understanding traffic sources enables targeted marketing strategies that drive higher occupancy rates and maximize property visibility.

3. Current Exposure

Current Exposure assesses the percentage of available units that are either leased or vacant on a weekly basis. By tracking this KPI, property managers can gauge market demand in real-time and adjust leasing strategies accordingly. For example, if Current Exposure is high due to a surplus of vacant units, property managers can implement aggressive leasing tactics such as offering move-in specials or flexible lease terms to attract tenants. Conversely, if Current Exposure is low, property managers can focus on tenant retention efforts to maintain occupancy levels and maximize rental income.

4. Weekly Net Move-Ins (Move-Ins minus Move-Outs)

Weekly Net Move-Ins provide insights into tenant retention rates and overall property stability on a weekly basis. Tracking the difference between Move-Ins and Move-Outs each week allows property managers to assess tenant satisfaction levels and identify areas for improvement. Positive Net Move-Ins indicate growth and demand, while negative trends may signal underlying issues such as tenant dissatisfaction or market saturation. By addressing tenant concerns promptly and implementing targeted retention strategies, property managers can maintain positive Net Move-Ins and ensure sustained property performance.

How Asset Management Software Can Help

In today’s multifamily market, leveraging technology is key for optimizing operational efficiency and maximizing returns. By tracking these metrics closely and taking proactive measures to address any issues or trends, you can optimize operational efficiency, maximize rental income, and maintain a healthy bottom line. However, with so much data to sift through and competition to contend with, it’s crucial to keep a pulse on your property’s performance.

Lobby CRE allows you to monitor KPIs in real-time, providing invaluable insights into areas requiring attention and to effectively tackle underperformance. Discover how Lobby CRE can help you track and analyze KPIs,unlock greater returns, and optimize cash flow with faster visibility to performance metrics. Click here to schedule a demo and unlock the full potential of your multifamily properties with Lobby CRE!