Rental Property KPIs Every Landlord Should Track
August 28, 2023A handful of key metrics tell you more about how a rental portfolio is actually performing than a general sense that things seem fine. Tracking them consistently makes it possible to catch a problem property early instead of discovering it at tax time.
Occupancy rate
The percentage of units currently occupied versus vacant. A single number for a portfolio can hide a problem property — track it per property, not just in aggregate.
Rent collection rate
The percentage of scheduled rent actually collected, on time, each month. A property with strong occupancy but a weak collection rate signals a tenant payment issue, not a vacancy issue.
Average days vacant
How long a unit typically sits empty between tenants. A rising trend here often points to pricing, marketing, or turnover-speed issues worth investigating before it becomes a pattern.
Maintenance cost per unit
Total maintenance spending divided by number of units, tracked over time. A spike can mean a property is aging and needs bigger capital planning, or it can mean a specific unit has a recurring, unresolved issue worth investigating directly.
Tenant turnover rate
How often tenants move out versus renew. High turnover costs money in vacancy, marketing, and re-screening — a rising turnover rate is worth investigating for a root cause (pricing, maintenance responsiveness, communication) rather than treated as unavoidable.
Frequently Asked Questions
How often should I review these KPIs?
Monthly is a common cadence for most landlords, with a deeper quarterly or annual review to spot longer-term trends across the portfolio.
What's a healthy rent collection rate?
There's no universal number, but consistently collecting close to 100% of scheduled rent on time is the general goal — a persistent, meaningful shortfall is worth investigating rather than treating as normal.
Should I track these metrics per property or just for the whole portfolio?
Both, but per-property tracking is what actually reveals which specific property or unit needs attention — a portfolio-wide average can mask a problem property.