Metrics and definitions
Every figure answers four questions first: which scope (a property, a group, or everything you may see), which season, which counting basis (executed only, or executed plus pending), and which population (physical beds). Two people who pin those four the same way get the same number.
The unit is the bed, not the lease row. One lease can cover several beds; a bed counts once.
Leasing position
Section titled “Leasing position”| Metric | Definition | Basis and denominator |
|---|---|---|
| Prelease | Beds committed for the season being leased, as a share of total beds | Committed = executed plus pending, counted by signing date on or before the week end. Denominator = physical beds, including down beds, excluding virtual overflow. The Velocity card also shows the executed-only share. |
| Executed | Beds on leases that are fully signed and countersigned | Subset of committed |
| Pending | Beds on approved applications with the lease generated and awaiting signature | Counted toward prelease; shown apart from executed on every surface |
| Current occupancy | Beds on leases that are pending, executed or active at the as-of date, as a share of total beds | Same denominator. This is lease-state coverage; it does not prove a resident is in possession. |
| Beds to go | Total beds minus committed beds | |
| New lease count | Leases whose origination is New, by signing date | Renewals and transfers excluded |
| Renewal count | Leases whose origination is Renewal, by signing date | A transfer is not a renewal |
| Renewal mix | Renewal beds as a share of committed beds |
Signing date is the earliest pending or executed event on the lease. A later state change never moves the week the lease entered the curve. A cancellation is dated the day it happened, so the curve shows the week the bed came back.
Pace and projection
Section titled “Pace and projection”| Metric | Definition |
|---|---|
| Pace | Prelease this season week against the same season week of the comparison season (last year), under one basis and one denominator. Reported as a delta in points or beds. |
| Pace to goal | Beds to go against the plan corridor for this week. States: on path, drifting, off path, with the band width shown as a percent. |
| Velocity | Committed beds added per week over a trailing window. The projection uses a four-week trailing average of new leases. Can be negative. |
| Projected final | Committed beds plus velocity times weeks left, capped at rentable capacity, shown as a share of physical beds. The number of record for “where will we land”. |
| Gap to target | Target (default 95%, capped at the rentable ceiling) minus projected final, in points; also shown as beds to target and the velocity required. |
| Metric | Definition |
|---|---|
| Blended rate | Sum of monthly lease rates divided by committed beds (prelease) or occupied beds (current). The Velocity card shows an executed variant and a committed variant. |
| Average rate | Simple mean of monthly lease rates across the same set |
| Min and max rate | Lowest and highest monthly lease rate in the set |
| Net effective rate (NER) | Average rate minus monthly concessions per occupied bed. One-time credits are not amortized into it. With zero occupied beds it equals the average rate. |
| Pooled rate (split lease) | For a unit whose rent is spread across leases with off-ladder per-bed rates, the unit average. Rate metrics use the pooled rate; revenue reads keep each lease’s own rate. |
| Average signed rate vs ladder | Average signed rate for the plan against the rate its beds should carry by ladder position; the card also counts beds signed below their step |
Rate ladder
Section titled “Rate ladder”A rate plan is a ladder of tiers per floor plan per season: each rung has a rate, an allotment of beds, and optionally a lease type (new or renewal). As beds fill, the price steps up. Usage per rung: allotted, signed here, left, and the current rung. A bed “below its step” was signed under its rung’s rate.
Market
Section titled “Market”| Metric | Definition |
|---|---|
| Public rate | The lowest per-bed asking rate read from a property’s public page for a bedroom class, with its observed date. Per-unit amounts cannot be compared per bed and are kept apart. |
| Week move, four-week move | The displayed rate against the nearest older genuine observation at least 7 or 28 days earlier. Rolled-forward copies do not count as observations. “Δ unavailable” means fewer than two observations. |
| Rolled forward | A rate carried from an earlier read because no newer read exists; shown in italic |
| Stale | A public rate whose observation is older than the threshold; shown in amber |
| Live special | An offer seen on the source in the last 7 days. Fading and retired offers appear when “Live offers only” is off. |
| Special value | The offer normalized to dollars off per bed per month where the terms allow it |
| Prelease estimate (competitors) | A low, point and high estimate for a competitor property, labelled a preview. Your own properties show reported prelease. |
| Metric | Definition |
|---|---|
| Actual / budget | A closed prior fiscal year against the budget that was active for it |
| Forecast / approved | The planning forecast against approved baseline lines |
| Property NOI | Monthly whole-property NOI; a month reports an actual or a forecast, never both |
| Projected NOI and value | NOI from the current and goal blended rate with a cap-rate and operating-expense what-if; expense basis is the budget or a ratio |
| Variance | Compared minus budget, in dollars and percent. “Missing” means the baseline never returned a value; it is not zero. |
Reading a figure
Section titled “Reading a figure”Every card, export and chat answer carries a source, a basis and an as-of date. On Velocity it is the Provenance line; on Market it is Data health; on exports it is the provenance block; in chat it is the row under the answer. See data sources and freshness.
Known differences from other systems
Section titled “Known differences from other systems”- A PMS occupancy that excludes down beds reads higher than ours. Rentametrix keeps down beds in the denominator.
- A tracker that counts lease rows, not beds, reads a split lease wrong in both directions.
- A survey’s “prelease percent” is a reported observation, not this calculation.
- Some data providers report effective rent net of concession, some gross. Our NER is net of monthly concessions only.