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How do Prospect Reports and Traffic Reports compare and tie?


Instruction

Here are some explanations of the prospect and application reports and how they tie back to each other.

Prospect Employee Summary - This report displays total contacts to all prospects, new prospect count, conversion ratios, new and cancelled leases

     Column definitions:

  • Chat, Email, Phone, Text, FTF - Total number of contacts to prospects during the report date range (from Communication Log entries)
    • Chat, Email, Text, Phone, FTF will tie to contacts by day of week.
    • If you contact a prospect twice, they will only show once on this report.
  • FTF Conversion # - The number of contacts that were non-FTF, that have now had a FTF contact.
  • Note: This column will be removed (probably in October) because it shows leases that applied in a previous time period, which can cause the Closing Ratio to be more than 100%
  • Gross traffic is the number of New Units Shown + Returned FTF traffic. It is the number of distinct set of prospects that came to the property. It will not tie to Contacts by Day of Week.
  • Note: Because these include multiple contacts per prospect, this will not tie to anything else.
  • Note: Because these include multiple contacts per prospect, this will not tie to anything else.
  • FTF Conversion % - The number of FTF conversions / Total.
  • New Units Shown - The number of prospects shown a unit for the first time during the report date range
  • Returned FTF - The number of prospects that came back to the property a second time during the report date range
  • Gross Traffic - The number of prospects that visited the property during the report range
  • New Leases - The number of lease applications during the reporting range that were shown the unit for the first time during the report date range
  • Cancelled Leases - The number of leases that cancelled during the report date range
  • Closing Ratio – (New Leases – Cancelled Leases) / New Units Shown
  • Leased Upon Return - The number of lease applications during the reporting range that were shown the unit before the report date range
  • Gross Leases - Ties to the Applicants on the Lease Applications report (see note below about transfers)
  • Net Leases =  Gross Leases - Cancelled Leases

Prospect Source Summary - This report displays the new prospect count, new leases, and cancelled leases

    Column definitions:

  • New Prospects – The number of new prospects entered into ResMan during this date range (also the 1st Communication Log entry)
  • Return Prospects – # of Prospects that had a follow up contact. These contacts do not include their 1st contact
  • New Units Shown -  How many units were shown for the 1st time
  • New Leases - The number of lease applications during the reporting range that were shown the unit for the first time during the report date range
  • Cancelled Leases - The number of leases that cancelled during the report date range
  • % Leased – (New Leases – Cancelled) / New Units Shown (Matches the Summary Closing Ratio on the Prospect Employee Summary report)
  • Cost Per Period – Displays the cost setup in Admin > Properties > Prospect Source, divided by periods
  • Cost Per Lease – (New Leases – Cancelled Leases) / Cost Per Period
  • Leased Upon Return - The number of lease applications during the reporting range that were shown the unit before the report date range
    • Note: This column will be removed (probably in October)

Lease Applications - This report displays all applications (filtered by lease application date) for a given date range and will match the Gross Leases shown in the Prospect Employee Summary and New Leases shown in the Prospect Source Summary

  • Note: This report includes both new applications as well as applications who transfer from one unit to another. The Prospect Employee and Source summary are not including transfer applications so if you are comparing those two reports, you will need to exclude the transfers.  You can tell if an application was a transfer application by the "(PT)" at the beginning of the notes column.  (We will be adding the ability to filter out PT’s in a future release)

Cancellations, Denials, Move Outs - This report displays all the applications that cancelled or were denied for a given date range (filtered on cancellation or denial date). The Cancelled & Denied sections will backup the Cancelled Leases number shown in the Prospect Employee Summary and Prospect Source Summary reports.  This report also shows you the reason why they cancelled or were denied.

  • Note: This report includes cancellations of new, transfer, and renewal applications.  The Prospect Employee Summary and Prospect Source summary reports do not include transfer or renewal applications so if you are comparing those two reports, you will need to exclude them.  You can tell if an application was a transfer application or a renewal application by the "(PT)"  or "(R)", respectively, at the beginning of the notes column.  (We will be adding the ability to filter out Transfers & Renewals in a future release)

Lost Prospects - This report shows prospects that were lost. (This report does not have anything to do with Applicants who were denied or cancelled)

All Prospects - This report shows all prospects contacted in a given date range even if it was the second or third contact. It displays "All Prospects" that were contacted during the date range.  This report will not tie back to any other report and is not intended to.

New Prospects - Shows similar information the All Prospect reports but only lists the new prospects contacted during a given date range and does not support the Prospect Employee Summary New Prospects number. 

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Where to locate these numbers:

Total new prospects: 

  • Prospect Employee Summary: Total new prospects under the Source Summary Section
  • Prospect Source Summary: New Prospects

Total leases: 

  • Prospect Employee Summary: Gross Leases
  • Prospect Source Summary: New Leases + Leased Upon Return
  • Lease Applications: Count of all rows (less transfers shown by "(PT)" in notes)

Cancelled Leases: 

  • Prospect Employee Summary: Cancelled Leases
  • Prospect Source Summary: Cancelled Leases
  • Cancellations, Denials, and Move Outs: Cancelled & Denied section (less transfers and renewal cancellations shown by "(PT)" or "(R)") -  (3 Cancelled + 2 Denied - 1 Cancelled Transfer) = 4

Reasons Applications were Cancelled or Denied:

  • Cancellations, Denials, and Move Outs: Move Out Reason column

 

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