​2015 By the Numbers

With the year complete and work on income taxes under way, thought it might be interesting to contrast some of the rental numbers between 2014 and 2015. 2014 way our toughest year yet, and 2015 might be our easiest and best year yet.

In 2015 we had 3 uneventful move-outs, compared to 8 ugly move outs in 2014.

In 2014 our worst property generated an average of $27/door/month, our best property cash flowed an average of $338/door/month, and all the properties aggregated averaged $171/door/month. In 2015 our worst property generated an average of $140/door/month, our best property cash flowed an average of $423/door/month, and all the properties aggregated averaged $231/door/month.

Our maintenance cost was 3% of rent, compared to 5% in 2014. Last year we had $8,000 in missed rent and damage; 2015 was down to $2600! We met our goal of over 10 CAP after tax, achieving 10.8.

We had less empty days, 26 and 98% paid occupancy in 2015, compared to 88 days or 97% paid occupancy in 2014. Rents were up 22%; our PM managing 3 of our doors is costing $155/month in fees, but is getting $130/month more in rent.

It wasn’t perfect, but it was a huge improvement, and I’m quite pleased.