Just fill out the fields in yellow on the lefthand side.

‍You’ll enter information such as number of vacancies, average rental rates, expected leases gained and lost per month, marketing budget, and a few other pieces of information. We have some assumptions based on Lease Engine’s overall averages entered for cost per click, click to lead conversion, and lead to lease conversion, but you can adjust these if you have the information on hand (every market is different). With all of your info added, the spreadsheet will calculate everything else, giving you marketing ROI, and vacancy opportunity cost.

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Yes, this is free.  

We’re just sharing some a free tool that we hope you’ll find useful. Keep us in mind next time you have marketing questions!

The cost of a vacancy is:

The rental revenue you are losing for every day a unit sits vacant. This is calculated by taking (monthly rent divided by 30) * (number of vacant units) * (days vacant). This can be forecasted month to month as well by taking total vacant units less net monthly occupancy change and multiplying that by monthly rent. When taking into account the amount of leases you expect to gain or lose each month, this number will fluctuate.

This exercise will help you:

Understand how vacancy is contributing to your expenses both daily and monthly, and visualize how your campaign will perform with a more intensive marketing strategy involving pay-per-click instead of just ILS.