Example Yard · 240 units · example only
Free Facility Review notes
You asked whether a rate increase is worth the move-outs, and whether the occupancy number you quote is the number a buyer would underwrite.
1. Rate gap on 10x10s
In this example, in-place rent on 10x10s sits about 8% behind the street rate you posted. A 5% increase on occupied 10x10s, with a small extra move-out, still adds NOI. That is the first move. Run it in the ECRI tool with your own counts before you send notices.
2. Occupied is not collected
Physical occupancy in the example is 91%. Collected rent is closer to 84% of potential once discounts and delinquency are in. A buyer will underwrite the collected number. The economic occupancy tool splits that gap into vacancy, loss to lease, discounts, and delinquency.
3. Payroll versus revenue
Payroll is the heavy line in the example, ahead of tax and marketing. Do not cut it first. Fix the rate gap and the leakage, then see if the payroll ratio still looks high against revenue.
That is the whole note. Three moves, ranked. No slide deck.