Loss-to-Lease Analysis

Key Metrics

Loss-to-Lease Trajectory

Loss-to-Lease Summary

Reality check: what do new leases actually sign at?

LTL assumes the posted market rent is achievable. How do new leases actually price relative to market since June 2025?

By Unit Type

Are certain floor plans falling further behind market than others? A large gap for a specific type may signal a pricing or positioning issue.

Renewal Opportunity Pipeline

How much of the LTL gap is tied to leases expiring soon? Near-term expirations are where renewal negotiations can push rents closer to market. Each bar shows the total annual loss-to-lease tied to leases expiring in that window. "Expired / MTM" tenants are the easiest to adjust since no lease locks the rate.

New Leases vs Renewals

Do new leases or renewals carry more of the gap? Renewals with high LTL means renewal pricing is too conservative — push harder on renewal increases. New leases with high LTL means asking rents are too low relative to posted market rates.

Trade-Out Capture Trend

Trade-out is the rent increase captured when a unit turns over to a new tenant — the main way to close the loss-to-lease gap. If trade-out is trending up and remaining gap is trending down, pricing is getting more aggressive and effective. If both are flat or the gap is stubbornly large, there may be concessions, market softness, or conservative pricing holding things back.

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Unit Detail

Every occupied unit sorted by largest rent gap. Units near the top with upcoming lease expirations are the highest-priority renewal opportunities.