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Yeah no idea at all. For multi everyone uses 50%.
Everything I've seen is 100% - I do not know the industry standard, would be curious is someone from an ACC type shop could weigh in.
TIAA published an article a few months ago and quoted that TO was close to 100%. There was no support for the number. As I write this, I realize this isn't very helpful to you.
One thing that may juice that number is 11 and a half month leases, where they kick students out for 2 weeks at the end of the summer if they aren't renewing in the same unit. Twelve months of rent are still charged, there's just a gap there to make sure management can turn everything in time for the next academic year.
Not sure on turnover, but yeah, by San Diego State all my clients offer leases from September to September basically. All the parents of each student are on the lease as well. Rent always gets paid. 4 students leasing a 2/2 can have 12 people financially responsible for the $2500mo+ rent.
In all of our UW we use 100%. In our experience, since Student housing is done mostly by the bed and not the unit, even if you are going to renew someone, they may move to a different unit as friendships/roommate situations change. There is just not enough stability to try and tie the turnover to a different number.
Thanks everyone. I appreciate the shared thoughts. 100% it is. disre you make a great point
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