Getting accurate vacancy rate
Bigger pockets says to call up a local property manager and ask them. Why would they any random pleb that calls them?
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A local property manager might be responsible for the management and the leasing performance , either in-house or on behalf of the landlord.
They usually liaise with general enquiries and or brokers on the approx vacancy of their asset(s) as it’s their duty to lease them out. Give them a call - they’re usually quite friendly.
Failing that, just pretend to be a client and call up their general enquiries line. Or even better dial up the (sole) leasing agent in charge of that asset and pretend you have a requirement and they’ll give you some options and you can kinda crudely guesstimate the vacancy if you know the total leasing area within that building.
Why wouldn't they? It's not top secret.
Especially if this is multifamily, people share leasing info to their comps weekly - traffic numbers, # of leases, % occupied, % leased, etc. They'll sometimes lie about specials, because that's just part of the game, but the rest of it is being a good neighbor.
Call and say you're doing a market survey and try not to spend 5+ minutes on the phone. Ask a few questions, thank them, and tell them if they need any info in the future to call you.
Getting a vacancy rate is easy. Getting someone's arrears info is a lot harder, and a lot more informative.
You can have a 100% leased building for 3 decades if you effectively charge no rent. Vacancy rates increase if you have more eviction proceedings for bad debt and nonpayment of rent. Yadda yadda yadda, it's a complex whole and changing one input means cascading effects. Don't look at one statistic, look at the building as an organic whole, you'll get a better idea of how it actually operates
Ultimately you're looking for a proxy for whatever your subject asset can reasonably perform at.
The problems you're raising can be solved by going to sources that will absolutely be charging market rent and are good managers.
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