Street rate vs in-place rate, by unit type

How much rent your book is carrying below what you are asking new customers today, type by type, in dollars rather than percentages.

Rate decisions are made per unit type, never per facility. A store-level average cannot tell you which types to raise, because it mixes a tight type with a soft one and reports the middle.

Per row, then summed:

A 10x10 type with 40 occupied units at $118 against a street rate of $149 carries a gap of $31 a unit, 20.8 percent below street. Across 40 units that is $1,240 a month and $14,880 a year, before a single tenant has been asked to pay it.

• Gap per unit: the street rate, less the average in-place rent.
• Percent below street: that gap, divided by the street rate.
• Increase to close: that gap, divided by the average in-place rent.
• Monthly opportunity: occupied units, times the gap, counted only where the gap is positive.
• Annual opportunity: the monthly figure, times twelve.
• Totals: the sum of the rows.

The totals are sound. The targeting is not in them, and that is the limit to keep in mind.

• An average flattens the distribution. Within one type the money sits with the longest-tenured tenants, and an average cannot say which tenants to raise.
• Rows net. Tenants already above street offset those below, and a type whose average is above street contributes zero, so the total is a net ceiling rather than a gross one.
• Use one definition of street throughout. The web rate and the walk-in rate are different numbers, and mixing them moves the gap.
• Twelve times the monthly figure assumes the gap closes at once and holds for a year. Cadence caps, notice periods and exclusions all push the real capture later and lower.
• Nothing here fetches a competitor rate. A competitor number belongs in a survey a person recorded, which is separate evidence from your own asking rate.

Two percentages come out of one gap, and they are not interchangeable. At $118 against $149 the rent is 20.8 percent below street, but closing it takes a 26.3 percent increase, because one is measured on street and the other on the rent you would actually raise.

Rank by the monthly column, not the percent column. A 30 percent gap on three units is worth less than a 10 percent gap on forty, and only one of them is worth a batch of notices.

A negative row deserves a second look. Sitting tenants paying more than you are asking is a reason to examine the street rate, and a reason not to raise that type: a tenant who shops finds the cheaper unit down the hall.

Then price it. The opportunity here is the ceiling, and the ECRI calculator says what an increase collects net of move-outs. Verillum AI reads both from the rent roll itself, unit by unit, for each store in a portfolio.