If you’ve ever asked, “What is KPI in property management?” you’re not alone. KPI stands for Key Performance Indicator, and in the property management business, it’s your north star. These metrics are how successful property managers track progress, identify weaknesses, and make data-driven decisions.
From improving tenant satisfaction to increasing profitability, KPIs are the foundation of success for any property management company. In this guide, we’ll walk through the most important KPIs, why they matter, and how a property management coach or consultant can help you implement them effectively.
Why KPIs Matter in Property Management
Running a property management company without KPIs is like driving without a dashboard. You might move forward, but you have no idea how fast you’re going or whether you’re headed in the right direction.
KPIs Give You:
Clarity on performance across departments (leasing, maintenance, accounting, etc.)
Early warning signs of potential issues
A roadmap for achieving your growth goals
Measurable progress for your team
Whether you’re working with a property management consultant, a business coach manager, or just flying solo, tracking KPIs is essential for scaling without chaos.
Top KPIs Every Property Manager Should Track
Tracking the right metrics can transform how you run your business. If you’re looking for a deeper dive into common and powerful KPIs, check out this Buildium guide to property management KPIs.
1. Occupancy Rate
This tells you how many of your rental units are currently leased. A low occupancy rate may mean issues with leasing agents, marketing, or tenant retention.
2. Days on Market
How long it takes to fill a vacant unit. If your average days on market are creeping up, it’s time to review your pricing, marketing, or leasing process.
3. Tenant Turnover Rate
High turnover = higher costs. Tracking this KPI helps you understand how well you’re retaining tenants—and where you might be losing them.
4. Maintenance Resolution Time
How quickly is your team resolving maintenance requests? This impacts tenant satisfaction and operational efficiency.
5. Net Operating Income (NOI)
This is the ultimate financial KPI. It shows how much profit your properties are generating after expenses.
KPI Implementation: Where Most PMs Struggle
Many property managers have heard of KPIs but few are actively tracking the right ones. Often, they’re buried in busywork, dealing with tenant fires, or chasing property management leads without any structure.
This is where property management consulting services can be a game changer. A consulting property manager can:
Help you identify which KPIs are most relevant to your goals
Set up dashboards or tracking systems
Train your team on KPI ownership and accountability
Still unsure where to begin? Our blog on how to grow a property management company is a great companion read.
KPIs + Coaching = Real Growth
A property management coach brings the structure and experience you need to stop spinning your wheels. Here’s how:
They help translate numbers into action
They create accountability so you don’t lose focus
They provide ongoing support to tweak your KPIs as your business evolves
If you’re part of a mastermind property management group or working one-on-one with a coach, you’ll gain insights from others who’ve walked the same path and scaled successfully.
From Data to Decisions: KPI Tips
Here are some practical property management tips to make KPIs work for you:
Don’t track too many—focus on 5-8 that align with your current goals
Review KPIs weekly with your team (even if you’re small)
Set realistic, time-bound targets
Use tools like Google Sheets, Notion, or AI in property management software to automate tracking
What If You’re a Solo PM or Just Starting Out?
You don’t need to wait until you’re managing 100+ units to implement KPIs. In fact, starting early gives you a huge advantage.
Whether you’re just learning how to start a property management company or you’re a solo rental consultant, your future team will thank you for having systems in place.
This is where a property management consultation comes in handy—you get expert eyes on your business early, before small cracks become big problems.
Final Thoughts
So, what is KPI in property management? It’s the difference between reacting and leading. Between hope and strategy. And between burnout and sustainable growth.
From boosting your property management business performance to improving team clarity, KPIs are a non-negotiable part of success. And you don’t have to do it alone.
Need help setting up the right KPIs and turning numbers into growth? Visit The Who Crew to learn how we can support you.
Want to grow your property management company with clarity and confidence? Check out our full suite of property management consulting and coaching options at BetterWho.
