95% occupied? Great. But what did it take to get there? One thing I always want to understand is concessions. A property can maintain strong physical occupancy while giving away significant revenue through free rent, move-in specials, or other incentives. So I want to know: • How much are we giving away? • How many units are receiving concessions? • Are they temporary or becoming permanent? • What happens when residents have to pay the full rent? Because 95% occupancy with minimal concessions tells a very different story than 95% occupancy that requires aggressive incentives to maintain. Don’t just underwrite the occupancy. Underwrite what it COST to achieve it. 🎓 Want to see how we analyze occupancy, concessions, revenue, and other assumptions on real multifamily deals? Join our FREE MSA Deal Room. 📍 For more underwriting tips, visit: 🔗 msadatainsights.com/dealroom 🚨 For our latest investment opportunity, visit: 🔗 xsitecapital.com #Multifamily #Underwriting #RealEstateInvesting #ApartmentInvesting #CommercialRealEstate - @mannyawasom