Operations Report
Three opportunities
Renewals priced from your plan
Renewal trade-out vs plan · phase 2| Offers below the tenant’s current rentb | 32.6% vs 2.7% |
| Offers flat at current rentb | 51.1% vs 25.5% |
| Median renewal trade-outb | $0 vs +$25 |
| Expiring leases with no renewal activity recordedb | 33.8% vs 26.0% |
| Offers outstanding with no reply recorded | 115 |
| Upcoming leases below their own market rent | 54 · $206,736/yr |
Sized$27,600 a year (the 92 leases priced January to August, carried at the +$25 median achieved in 2025, held twelve months: 92 × $25 × 12).
ClaraClara prices every expiring lease from the policy your business plan sets, sends on schedule, and reports plan against actual per property each month.
Leads that arrive after hours
Lead-to-lease conversion| Apartment leads · lead-to-lease | 658 · 18.4% |
| Leads arriving after hoursb | 170 of 637 |
| Wait for a human, after vs in hours | 15.5 h vs 10 min |
| Lead-to-tour, after vs in hours | 32.2% vs 47.1% |
| Lead-to-lease, after vs in hours | 14.4% vs 19.8% |
| Leads that never reach a human | 35 |
SizedAbout $27,400 a year (16.6 extra move-ins from after-hours leads converting at the in-hours rate, valued at one month of the $1,650 median market rent).
ClaraClara answers every lead within a minute at any hour, in English or Spanish, and books the tour inside the conversation.
Maintenance intake and units that sit
Vacancy days · maintenance response| Contact-center tickets with a priority set | 0 of 401 |
| …repeating on the same unit within 7 days | 30.4% |
| Requests arriving with the office closed | 615 of 2,322 |
| Open work orders · unassigned · past 90 days | 346 · 245 · 72 |
| Median days vacant · p90 | 49 · 195 |
| Rent-ready but unadvertised | 7 units · 331 idle days |
SizedAbout $44,000 a year of rent (cutting the vacancy median from 49 days to 40 across 92 apartment turns, at $54 a day: $1,650 ÷ 30.4), plus a billback recovery we cannot size from the current work-order records.
ClaraClara takes the call, sets a priority, opens the work order, and lists a unit the day it is flagged rent-ready.
De-duplicated, the combined annual opportunity is $71,600 to $99,000. Opportunities 2 and 3 work the same empty days, so the low end takes the larger of the two rather than their sum.
Occupancy and vacancy
| Apartments | |||
|---|---|---|---|
| Apartment doors, 16 properties | 397 | ||
| Physical occupancya d | 89.1% | ||
| Vacant apartments | 35 | ||
| Median days vacant · p90 | 49 · 195 | ||
| Vacant past 90 · past 180 days | 10 · 5 | ||
| Vacant and not rent-ready | 19 | ||
| Rent-ready but unadvertised | 7 · 331 idle days · $10,425/mo | ||
| Advertised while not rent-ready | 17 |
Occupancy is measured on the 341 apartment doors AppFolio’s occupancy report covers; 56 doors are missing from it, including 54 at Alton, which it prints as one unit.
Renewals
| Jan–Aug 2026 | Jan–Aug 2025 | Change | |
|---|---|---|---|
| Expiring leasesb | 148 | 177 | −29 |
| …priced, with both old and new rentb | 92 | 110 | −18 |
| Offers below current rentb | 32.6% | 2.7% | +29.9 pts |
| Offers flat at current rentb | 51.1% | 25.5% | +25.6 pts |
| Offers above current rentb | 16.3% | 71.8% | −55.5 pts |
| Median trade-out, dollars and percentb | $0 · 0.00% | +$25 · +1.75% | −$25 |
| No renewal activity recordedb | 33.8% | 26.0% | +7.8 pts |
| Median days, first action to expiryb | 72 | 71 | +1 |
| Renewed · MTM · did not renew · cancelledb | 59 · 55 · 7 · 27 | 66 · 72 · 3 · 36 | |
| Leases expiring in the next 12 months | 228 | ||
| Offers outstanding with no reply recorded | 115 | ||
| Upcoming leases below their own market rent | 54 · $206,736/yr | ||
| Residents on month-to-month | 25 · $33,160/mo |
Excludes leases whose recorded previous rent is a subsidized tenant portion rather than contract rent: 16 leases in each year.
Leasing funnel
| Jan–Aug 2026 | Jan–Aug 2025 | Change | |
|---|---|---|---|
| Leadsb | 637 | 416 | +53.1% |
| Leads arriving after hoursb | 170 | 102 | +68 |
| Median hours to a human reply, in hoursb | 0.15 (9 min) | 1.67 | −1.5 h |
| Median hours to a human reply, after hoursb | 15.22 | 15.12 | +0.1 h |
| Never contacted by a humanb | 5.2% | 11.1% | −5.9 pts |
| Lead-to-tourb | 42.5% | 48.3% | −5.8 pts |
| …in hours · after hoursb | 46.5% · 31.8% | 55.1% · 27.5% | |
| Lead-to-applicationb | 26.7% | 33.2% | −6.5 pts |
| Lead-to-leaseb | 18.2% | 25.7% | −7.5 pts |
| …in hours · after hoursb | 19.7% · 14.1% | 26.1% · 24.5% | |
| Showings scheduled · completed · cancelledb | 407 · 226 · 91 | 302 · 156 · 42 |
Leads are counted from AppFolio guest cards; a lead is “contacted” at the first outbound message from a person.
Leasing by source, January to August 2026
| Source | Leads | Toured | Moved in |
|---|---|---|---|
| Zillowb | 111 | 43.2% | 11.7% |
| TurboTenantb | 80 | 35.0% | 7.5% |
| Facebookb | 75 | 66.7% | 16.0% |
| Websiteb | 74 | 36.5% | 20.3% |
| Referralb | 55 | 47.3% | 45.5% |
Top five sources by lead volume. Applications are not shown by source: TurboTenant, Tenant Turner and AffordableHousing.com applications do not enter the AppFolio applications report.
Maintenance
| Jan–Aug 2026 | Jan–Aug 2025 | Change | |
|---|---|---|---|
| Work orders createdb | 2,277 | 2,318 | −1.8% |
| Arrived with the office closedb | 28.8% | 34.0% | −5.2 pts |
| Never assignedb | 18.8% | 9.3% | +9.5 pts |
| Median days to completeb d | 5.8 | 13.1 | −7.3 d |
| Open work orders · unassigned · past 90 days | 346 · 245 · 72 | ||
| Contact-center tickets with a priority set | 0 of 401 | ||
| …repeating on the same unit within 7 days | 30.4% | ||
| …Mon–Fri 8–5 · weekend · overnight | 256 · 75 · 10 | ||
| Work orders carrying any dollar figure | 154 of 2,322 | ||
| Billback charge lines, every one at $0.00 | 370 |
The 2026 completion median is a floor: 18.7% of 2026 work orders have no completion event yet against 6.8% in 2025. Work orders created counts the January to August window; the money rows count all 2,322 apartment work orders in the 2026 export.
Delinquency
| Apartments | |||
|---|---|---|---|
| Delinquent balance | $670,223 across 305 accounts | ||
| …held by residents | $441,466 across 222 accounts | ||
| …held by entity accounts | $228,757 across 83 accounts | ||
| Median balance | $1,651 | ||
| No payment contact in 60 days | 59.0% (129 of 219) | ||
| …balance those accounts hold | $247,846 | ||
| Largest single counterparty | $207,411 (31.0%) | ||
| Unpaid rent, January → August | $13,100 → $89,900 |
A delinquent balance, not bad debt: write-offs, collection loss and uncollectible rent were not measured.
Turns
| Jan–Aug 2026 | Jan–Aug 2025 | Change | |
|---|---|---|---|
| Move-outsb | 87 | 96 | −9 |
| …re-let within the windowb d | 53 (60.9%) | 96 (100%) | |
| Median days vacant, move-out to move-inb d | 62 | 76 | −14 |
| Median make-ready daysb d | 32 | 63 | −31 |
| Over the 18-day targetb | 81.9% | 95.8% | −13.9 pts |
| Turns started, apartments | 92 |
Both 2026 medians are floors: a third of the 2026 move-outs have not been re-let, and the units still empty are the long ones. The 18-day target is the one recorded in the Situs make-ready checklist.
Resident communication
| Jan–Aug 2026 | Jan–Aug 2025 | Change | |
|---|---|---|---|
| Median wait for a human reply to a textb | 13.6 h | 18.5 h | −4.9 h |
| Inbound texts unanswered after 14 daysb | 17.8% | 16.0% | +1.8 pts |
| Outbound textsb | 20,095 | 3,360 | 6.0x |
| Outbound emailsb | 28,149 | 6,181 | 4.6x |
| Outbound texts containing Spanish | 43.2% | ||
| Resident records carrying a language tag | 26.0% |
Across the full 2026 window the median wait for a human reply to a resident text is 14.3 hours.
Basis
- Window: 1 January to 1 September 2026. Rows marked b compare January to August 2026 against January to August 2025; a full-year 2025 total is not used, because September to December is the weakest leasing season.
- Rows marked b d are partial: a real count with a stated coverage gap, named in the definition under the table.
- Apartments only: 397 doors across 16 property records. A property counts as multifamily if it is not a placeholder record, carries two or more units, and has at least one unit with a bedroom. Excluded: 191 commercial office units, 20 single-family houses, 19 units in placeholder or migration records, and 19 units in entity and holding shells.
- Not measured: the phone channel (AppFolio holds no call records); a renewal or retention rate (AppFolio does not separate a renewal from a month-to-month rollover across both years); bad debt, write-offs or collection loss; economic occupancy, which cannot be rebuilt for a prior period from this export.
- Not read: Grand Junction, about 270 doors in a separate AppFolio database, and the doors managed for third-party owners.
- Sized figures are estimates and print their formula. The renewal ceiling, if every market-rent gap closed in full, is $206,736 a year on 54 upcoming leases; it is not claimed. Market rent is AppFolio’s own field, unverified against comparable listings.
- Every year-over-year row above is computed on apartments only in both years.