You are managing the 100-unit apartment community Sunnyside Place and the property's average annual turnover rate is 60%.

Question

How many apartments on average turn over per month?

Answer 1

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.