What is conversion rate?

As a performance metric, conversion rate assesses the rate of conversion on hitting the key “CrSTAL” milestone in their lead-to-lease journey.
This also provides a benchmark at the PMC and Multifamily level to evaluate the performance of a property/PMC relative to it.

Why it matters?

It allows us to:

- Assess the quality of leads at each milestone. 
- Gain insights into best practices and identify areas of improvement. 
- Assess the quality of the inter-milestone experience. 

Example

For example, in the month of January, for a property:

- 100 leads toured.
- Out of these, 30 leads applied.  
- Conversion rate for this PMC is 30%.