What is Opportunity Cost?

Understand how we calculate and display opportunity cost for each of your locations in Adverank

Hello and welcome to this Adverank Cloud Application tutorial, where we will be talking about what opportunity cost is and how to view it within the Adverank Cloud application. When you first log into your account, you're always on the entire portfolio screen. So, I'm going to show you all the different places where you can view this opportunity cost first.

So on this screen up here at the top right, you will see your opportunity cost for your entire portfolio. And if you come over here and click on the Adverank link over here on the left which takes you to the facilities list screen. You will also see your opportunity cost for your entire portfolio up here. Now if you want to see it for a particular location, you would just click on any individual location and you would see your opportunity cost up here in the top.

For this particular location, it's $142,080. And that would be the opportunity cost for this location. Now to give you a good definition of what this number indicates, it is your daily vacancy cost multiplied by your length of stay for all of your tenants in your portfolio, which is the number of days on average your tenants are staying in their units.

So this number is a snapshot of what your potential revenue would be if you converted all of that vacancy into occupancy. Obviously a very helpful number and metric to know, and this is how you can view it both for your entire portfolio as well as for individual locations. Thank you for watching this video, and be sure to check out some of our other helpful how to videos.