The first Business Analysis produced 10 main numbers and 50 supporting numbers for Property Management Business. All 60 are measured again every three months against the values dated 30 September 2026.
How the list works
- The owner reads ten. The main numbers are the scorecard. They appear in the quarterly Business Analysis and the Monday report.
- We track the other 50. The supporting numbers explain why a main number moved. They appear in the quarterly analysis only where they matter.
- Every number has a dated starting value agreed with the owner at the first readout.
- Every value is labeled. A value is from your data unless its source column says "estimate". Those are our estimate, and the assumption is in the Business Analysis.
- Each number says whose money it is. Rent belongs to the property owners. Fees belong to the firm.
- Seasonal numbers are compared with the same quarter a year earlier. More tenants move in summer, and a unit that empties in winter takes longer to fill. Those numbers are marked "seasonal" below.
- No outside "in range" figures are used. Each number is compared with this firm's own earlier value and nothing else. An industry average would describe some other firm, in some other county, with other owners.
- Each number gets one of three readings every quarter:
- Working: it moved the right way, and the records show our change is the likely reason.
- Watch: it has not moved, or it is too early to tell.
- Adjust: it moved the wrong way, or the change we made is not producing the effect. The approach changes next quarter.
The ten main numbers
| Main number | 30 September 2026 | Better is | Where it comes from | Fix |
|---|---|---|---|---|
| The firm's revenue, last 12 months | $540,000 | Higher | QuickBooks | All |
| Units under management | 142 | Higher | AppFolio | 3 |
| Days vacant per turnover (seasonal) | 34 | Lower | AppFolio | 1 |
| Rental inquiries with no reply | 412 a year, or 103 a quarter | Lower | AppFolio, Quo, website form | 1 |
| Leases renewed (seasonal) | 71% | Higher | AppFolio | 1 |
| Rent paid by the 5th of the month | 74% | Higher | AppFolio | 3 |
| Work orders open more than 14 days | 47 | Lower | AppFolio | 3 |
| Fees and vendor invoices allowed and not billed | $20,240 a year, or $5,060 a quarter | Lower | AppFolio and QuickBooks | 2 |
| Day of the month owner statements go out | 14th | Lower | AppFolio | 3 |
| Owner's hours a week on calls and email | 26 | Lower | Quo, and our estimate from the owner's count for email | All |
Supporting numbers
Filling vacant units
| Number | 30 September 2026 | Better is | Where it comes from |
|---|---|---|---|
| Vacant days, last 12 months | 1,224 across 36 turnovers | Lower | AppFolio |
| Days vacant by quarter (seasonal) | 41, 38, 31 and 29, from October to September | Lower | AppFolio |
| Rent owners lost to vacancy between tenants (owners' money) | $104,040 | Lower | AppFolio |
| Management fees the firm lost to the same days | $8,843 | Lower | AppFolio |
| Days from move out to make ready finished | 13 | Lower | AppFolio and the vendor spreadsheet |
| Days from move out to first vendor visit | 5 | Lower | Vendor spreadsheet |
| Days from make ready finished to listing live | 4 | Lower | AppFolio |
| Days from listing live to lease signed (seasonal) | 11 | Lower | AppFolio |
| Days from lease signed to move in | 6 | Lower | AppFolio |
| Turnovers not advertised until the unit was empty | 29 of 36 | Lower | AppFolio |
| Time to first reply on a rental inquiry | 19 hours | Lower | AppFolio, Quo, website form |
| Rental inquiries that reach a booked showing | 32% | Higher | AppFolio |
| Booked showings the renter missed | 228 of 760, or 30% | Lower | AppFolio |
| Days from complete application to decision | 4 | Lower | AppFolio |
| Approved applicants who signed a lease | 41 of 67, or 61% | Higher | AppFolio |
Leases and rent
| Number | 30 September 2026 | Better is | Where it comes from |
|---|---|---|---|
| Leases that rolled to month to month with no offer sent | 21 | Lower | AppFolio |
| Days before lease end that the renewal offer went out | 38 | Higher | AppFolio |
| Move outs with a recorded reason | 14 of 36 | Higher | AppFolio |
| Rent owed by tenants (owners' money) | $61,400 | Lower | AppFolio |
| Rent owed for more than 30 days (owners' money) | $38,200, owed by 11 tenants | Lower | AppFolio |
| Days from rent due to first personal contact | 9 | Lower | AppFolio and Quo |
| Tenants who pay automatically | 54 of 142, or 38% | Higher | AppFolio |
| Late fees not charged, with no reason recorded | 65 | Lower | AppFolio |
Repairs
| Number | 30 September 2026 | Better is | Where it comes from |
|---|---|---|---|
| Work orders opened, last 12 months | 1,136 | Lower | AppFolio |
| Median days to close a work order | 6 | Lower | AppFolio |
| Work orders open | 83 | Lower | AppFolio |
| Work orders open more than 30 days | 19 | Lower | AppFolio |
| Repairs that came back within 60 days | 138, or 12% | Lower | AppFolio |
| Old work orders with no message to the tenant in 7 days | 29 | Lower | AppFolio |
| Work orders waiting for an owner to approve the cost | 11 | Lower | AppFolio |
| Share of work done by the three busiest vendors | 58% | Lower | AppFolio |
Fees and the firm's books
| Number | 30 September 2026 | Better is | Where it comes from |
|---|---|---|---|
| Vendor invoices paid and not billed back | 23, worth $9,840 | Lower | QuickBooks and AppFolio |
| Vendor invoices with no markup where it is allowed | 96, worth $4,800 | Lower | AppFolio |
| Renewal fees allowed and not charged | 28 of 74, worth $5,600 | Lower | AppFolio |
| Owners with fee terms entered in AppFolio | 49 of 58 | Higher | AppFolio and the agreements |
| Operating profit | 9.0% | Higher | QuickBooks |
| Units that cost more staff time than their fees cover | 5 | Lower | Our estimate, from AppFolio and Quo counts |
Owners kept and found
| Number | 30 September 2026 | Better is | Where it comes from |
|---|---|---|---|
| Owners who left, last 12 months | 5, with 11 units | Lower | AppFolio |
| Owners gained, last 12 months | 6, with 9 units | Higher | AppFolio |
| Owners who left with a recorded reason | None recorded. 3 found in email. | Higher | AppFolio |
| Months statements went out by the 10th | 5 of 12 | Higher | AppFolio |
| Owner messages that waited more than two business days | 17% | Lower | AppFolio |
| Largest owner's share of units | 9.9% | Lower | AppFolio |
| Owner inquiries that became clients | 6 of 31 | Higher | Website form and AppFolio |
Reputation
| Number | 30 September 2026 | Better is | Where it comes from |
|---|---|---|---|
| Google reviews and rating | 64 at 3.7 | Higher | Google Business Profile |
| New reviews, last 12 months | 17 | Higher | Google Business Profile |
| Reviews with no reply | 38 | Lower | Google Business Profile |
Records and software
| Number | 30 September 2026 | Better is | Where it comes from |
|---|---|---|---|
| Staff hours a week keeping the vendor spreadsheet and AppFolio in step | 6 | Lower | Our estimate, from the maintenance coordinator's count |
| Working logins held by people who have left | 4 | Lower | Every program |
| Software cost a year | $14,280 | Lower | QuickBooks |
How the first retest would read
This is an invented example of the main numbers at the first retest, dated 31 December 2026. It matches the sample six month Business Analysis.
| Main number | 30 September | 31 December | Reading | What it means |
|---|---|---|---|---|
| The firm's revenue, last 12 months | $540,000 | $546,000 | Watch | One quarter is too short to judge a yearly figure. |
| Units under management | 142 | 144 | Watch | One new owner with 2 units. |
| Days vacant per turnover | 34 | 29 | Working | 7 turnovers in the quarter. The same quarter a year earlier was 41 days. |
| Rental inquiries with no reply, in the quarter | 103 | 6 | Working | Every inquiry gets a reply within minutes. |
| Leases renewed, last 12 months | 71% | 72% | Watch | Most leases end in summer. |
| Rent paid by the 5th of the month | 74% | 73% | Adjust | Reminders alone did not move it. Next quarter: a text on the 3rd, a call on the 6th by a named person, and an offer of automatic payment. |
| Work orders open more than 14 days | 47 | 31 | Working | A daily list of work orders that have not moved. |
| Fees and vendor invoices not billed, in the quarter | $5,060 | $1,240 | Working | The weekly match caught the rest. |
| Day of the month owner statements go out | 14th | 11th | Working | Vendor invoices now have a cutoff on the 3rd. |
| Owner's hours a week on calls and email | 26 | 22 | Working | Quo shows 7 hours of calls. Email is the owner's estimate. |
The "Adjust" row is the most useful part of the retest. It shows the owner what did not work and what changes because of it.