What have you guys been seeing on avg amount of days it takes to re-lease an apartment upon expiring leases? Lots of caveats but interested in the following...
Avg days vacant with interior Reno (7-10k/unit) Avg days vacant with make ready turn only
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Just assume some macro vacancy factor... i.e. 95% occupancy means that a unit is vacant 18.25 days on average. I would add another 3%-5% (30 - 36 days) physical vacancy for the reno. More in economic vacancy if you think you'll need concessions or other inducements.
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