Introducing the Darwin Blog
The Darwin Blog is a resource dedicated to educating rental property investors
Darwin began with a simple mission: to enrich the lives of rental property investors and residents. We believe we can regularly contribute to this mission as we expand our property management business by sharing our key insights and best management practices with the rental real estate community.
The Darwin Blog will feature exclusive content from our leadership team and our advisory council, which is comprised of thought leaders in the real estate industry. We will also actively share our research, case studies, and latest industry reports so that our community can stay on top of key issues and market opportunities.
By transforming the traditional model of property management by integrating technology to enhance every touch point of the management process, we are elevating a long-standing system. In doing so, we are unpacking industry dynamics and finding ways to manage properties more efficiently. Here are a few of the KPIs we believe that all rental property owners should thoroughly understand as they look to operate a rental property efficiently:
- Turnover Rate: measures the average duration a resident lives in the property. This is one of the most important metrics to consider given that a rental property investment forecast will be predicated on some % of turnover. Remember, turning over a unit after a resident moves out is the single costliest expense for an investor. 100% turnover = Your residents on average stay for 1 year. 50% turnover = Your residents on average stay for 2 years. 33% turnover = Your residents on average stay for 3 years.
- Average days to turn: measures how many days it takes to turn your property and get it ready for a new resident. This significantly impacts time to lease, so efficiency during this process is critical to rental home returns.
- Average time to lease: measures how many total days it takes to fill your vacancy. This metric greatly impacts the NOI of a given property and can be improved greatly by quality photographs and competitive rental rates. On average, a home with professional photography generates 60% more leads than a property without visual references.
We look forward to continuing to create and share content to contribute to the rental real estate community. If you are interested in learning more about what we are building at Darwin, please get in touch with me directly at firstname.lastname@example.org and visit us at www.darwinhomes.com.