If a property has 457 units and moves out 18 units while moving in 15 units per month, what is the annual turnover rate?

To calculate the annual turnover rate for the property, we start by determining the monthly turnover. The turnover in a month is the difference between the units that moved out and those that moved in. In this case, 18 units left the property while 15 units moved in, resulting in a net loss of 3 units per month.

Next, to find the annual turnover, we multiply the net loss per month by 12 (the number of months in a year). This gives us:

3 units/month × 12 months = 36 units lost per year.

Now, to calculate the annual turnover rate as a percentage, we divide the annual units lost by the total number of units in the property and then multiply by 100:

(36 units lost / 457 total units) × 100 = approximately 7.87%.

This value rounds to about 7.9%. However, to find annual turnover as a ratio of the total units available, we also need to consider how many total units theoretically turnover in a year. If we consider the beginning unit count without ongoing gaps, we take the total number of units turned over:

(18 units moving out) is assumed to be the focus when we analyze total occupancy fluctuations, leading us back