Question
You are managing the 100-unit apartment community Sunnyside Place and the property's average annual turnover rate is 60%.
How many apartments on average turn over per month?
How many apartments on average turn over per month?
Answers
GPT-4o mini
To calculate the average number of apartments that turn over per month in a 100-unit apartment community with an annual turnover rate of 60%, you can follow these steps:
1. Calculate the total number of apartments that turn over in a year:
\[
\text{Total annual turnovers} = \text{Total units} \times \text{Turnover rate} = 100 \times 0.60 = 60 \text{ units}
\]
2. Calculate the average number of apartments that turn over per month:
\[
\text{Average monthly turnovers} = \frac{\text{Total annual turnovers}}{12} = \frac{60}{12} = 5 \text{ units}
\]
Thus, on average, 5 apartments turn over per month.
1. Calculate the total number of apartments that turn over in a year:
\[
\text{Total annual turnovers} = \text{Total units} \times \text{Turnover rate} = 100 \times 0.60 = 60 \text{ units}
\]
2. Calculate the average number of apartments that turn over per month:
\[
\text{Average monthly turnovers} = \frac{\text{Total annual turnovers}}{12} = \frac{60}{12} = 5 \text{ units}
\]
Thus, on average, 5 apartments turn over per month.