Asked by esther

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!
Answered by Ms. Sue
Right. :-)
Answered by esther
You manage a 125-unit apartment community and have 6 vacancies currently. What is your current occupancy percentage?

I got 6/125= 48% ??

Thanks!

Answered by Ms. Sue
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.


Answered by esther
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.
Answered by Ms. Sue
4.8% is right.

You're welcome.
Answered by esther
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!
Answered by Ms. Sue
Yes. The VACANCY rate is 4.8%.

100 - 4.8 = 95.2%. The OCCUPANCY rate is 95.2%.


You are welcome.

Answered by esther
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
Answered by Ms. Sue
You're welcome, Esther. And a very happy New Year.
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