Appendix

VALUE OF NEW LEASES INFLUENCED 
(Avg monthly rent of $1800 * 12 months * 25% weight of Apartment Life among factors in decision) = $5,400 in value per resident response gathered through reach-outs that mention an aspect of Apartment Life services.

VALUE OF NEW LEASES INFLUENCED BY POSITIVE GOOGLE REVIEWS THAT MENTION APARTMENT LIFE  

WHY GOOGLE REVIEWS ARE TARGETED 
The largest percentage (37%) of online reviews come from Google.  

NET ANNUAL VALUE OF LEASES  
(Avg units of 350) * (1 - a 45% annual renewal rate) * (Avg of $1800/month gross average monthly rent) * (12 months) * (a 60% margin) = $2,494,800 

ANNUAL VALUE OF GOOGLE REVIEWS 
(Net annual value of leases) * (8% weighted influence of Google review on new lease) = $199,584 

ANNUAL VALUE PER NEW POSITIVE GOOGLE REVIEW  
($199,584 annual value of google reviews) / (132 in online reviews in 2023 * 37% of reviews come from Google) = $4,086 

VALUE OF LEASE RENEWALS INFLUENCED  
$5,184 in value per resident response gathered through reach-outs that mention an aspect of Apartment Life services. Calculation and assumptions taken from the Apartment Turnover Cost Calculator created by StatisFacts.  

VALUE OF STAFF TIME SAVINGS 
(Avg of 5.24 staff hours/week saved based on the 2024 Apartment Life client survey to community and regional managers) * (Avg of 4.33 weeks in a month) * (Avg hourly wage of $20/hour) = $454 in value per month.  

VALUE FROM PARTNERSHIPS 
Total amount of donations or gifts-in-kind the coordinator obtained for the community as part of the Apartment Life program. 

VALUE OF RESIDENT SERVICES COMPLIANCE MANAGEMENT
Monthly value = $8300

VALUE OF STAFF TIME SAVINGS
(# hours committed to compliance management) * (Avg hourly wage of $20/hour)

VALUE OF COMPLETED CERTIFICATION APPLICATION 

ANNUAL VALUE OF RENT
(Avg monthly rent of $1255 for a 1-bedroom, affordable housing unit * 12 months * 25% weight of Apartment Life among factors in decision) = $3765 

VALUE OF STAFF TIME SAVINGS
(Avg of 3 staff hours/week saved) * (Avg of 4.33 weeks in a month) * (Avg hourly wage of $20/hour) = $259.80 in staff hours

VALUE OF MEAL GIVEN  
Avg value of free lunch subsidy = $3.32 

VALUE OF CHILDCARE SAVINGS
(# of youth programming sessions) * (Avg session length of 2 hours) * (Avg childcare cost of $20/hour)

VALUE OF ADULT EDUCATION SAVINGS
(# of adult and family programming sessions) * ($200/session)