What was wrong with the raw files?

Nine buildings that had not opened were counted as empty. Treating them as pipeline lifts Madison's 2026 occupancy from 66.9% to 83.0%.

The cleaning logs 44 issues: nine pre-delivery buildings reclassified as pipeline, and 35 flags kept as reported for follow-up. It also applies 13 smaller corrections, listed at the bottom.

Raw versus cleaned occupancy

As filed, Madison looks 66.9% occupied in Oct-26

Bed-weighted average across every row, counting pre-delivery buildings as 0% occupied.

Auburn

Oct-2495.1%
Oct-2590.6%
Oct-2697.2%

Norman

Oct-2494.2%
Oct-2592.6%
Oct-2695.6%

Madison

Oct-2494.1%
Oct-2576.8%
Oct-2666.9%

Bars run from 0% to 100%; the thin line marks 93%. Paler bars are unchanged by cleaning.

Source: LV Collective comp file, October snapshots.

Issue log, 44 flags

Pre-delivery rows change the numbers. The other flags (unchanged rents, identical sub-100% occupancy, bed counts moving more than 15%) are kept as reported and marked for follow-up with the survey provider.

Showing 10 of 44.

The GodBold Building
Auburn, 2024-25
Pre-delivery200 beds report 0% occupancy with an asking rent of $1,097.00/bed/mo. The building has not opened and is pre-leasing for next fall.
Excluded from occupancy and rent averages; counted as pipeline.
Accolade Auburn
Auburn, 2024-25
Pre-delivery420 beds report 0% occupancy with an asking rent of $1,598.04/bed/mo. The building has not opened and is pre-leasing for next fall.
Excluded from occupancy and rent averages; counted as pipeline.
The GodBold Building
Auburn, 2025-26
Pre-delivery200 beds report 0% occupancy with an asking rent of $1,515.00/bed/mo. The building has not opened and is pre-leasing for next fall.
Excluded from occupancy and rent averages; counted as pipeline.
Atlas at Richland Road
Auburn, 2025-26
Pre-delivery713 beds report 0% occupancy with an asking rent of $1,226.16/bed/mo. The building has not opened and is pre-leasing for next fall.
Excluded from occupancy and rent averages; counted as pipeline.
Two21 Armstrong
Auburn, 2025-26
Bed count changeBed count moves from 390 to 327 (-16%). That points to a phase delivery, a partial take-offline or a survey re-count.
Kept. Current-year beds are used as weights.
Harper Flatts
Auburn, 2025-26
Unchanged rentAsking rent is exactly $554.87/bed/mo in both 2024-25 and 2025-26. The survey may have carried the prior figure forward.
Kept. Treated as 0% rent growth.
The Terraces
Auburn, 2025-26
Bed count changeBed count moves from 47 to 24 (-49%). That points to a phase delivery, a partial take-offline or a survey re-count.
Kept. Current-year beds are used as weights.
Boulevard Auburn
Auburn, 2025-26
Unchanged rentAsking rent is exactly $1,346.50/bed/mo in both 2024-25 and 2025-26. The survey may have carried the prior figure forward.
Kept. Treated as 0% rent growth.
191 College
Auburn, 2025-26
Unchanged rentAsking rent is exactly $873.95/bed/mo in both 2024-25 and 2025-26. The survey may have carried the prior figure forward.
Kept. Treated as 0% rent growth.
Avenue Auburn
Auburn, 2025-26
Unchanged rentAsking rent is exactly $1,338.97/bed/mo in both 2024-25 and 2025-26. The survey may have carried the prior figure forward.
Kept. Treated as 0% rent growth.

Corrections applied

Applied automatically by the build script. They are not counted in the issue log.

Occupancy above 100% 1

Capped at 100%.

The Rive Madison, Madison 2024-25
Reported 100.37% occupancy; capped at 100%.

Asking rent of $0 2

Excluded from rent averages; occupancy kept.

229 at Lakelawn, Madison 2024-25
Asking rent recorded as $0; excluded from rent averages.
College Park Apartments, Madison 2024-25
Asking rent recorded as $0; excluded from rent averages.

Survey additions 10

Counted as operating stock, but their occupied beds are excluded from absorption so they are not mistaken for new demand.

HillTop Auburn, Auburn 2026-27
126 beds first appear in 2026-27 already 100% occupied. Existing stock added to the survey, not new supply.
Savannah Square, Auburn 2026-27
77 beds first appear in 2026-27 already 96% occupied. Existing stock added to the survey, not new supply.
The Bungalows Auburn, Auburn 2026-27
72 beds first appear in 2026-27 already 92% occupied. Existing stock added to the survey, not new supply.
Williamsburg Place, Auburn 2026-27
110 beds first appear in 2026-27 already 100% occupied. Existing stock added to the survey, not new supply.
Cottages at Donahue, Auburn 2026-27
34 beds first appear in 2026-27 already 100% occupied. Existing stock added to the survey, not new supply.
Parkside Auburn, Auburn 2026-27
25 beds first appear in 2026-27 already 100% occupied. Existing stock added to the survey, not new supply.
Ryan Street House, Auburn 2026-27
7 beds first appear in 2026-27 already 100% occupied. Existing stock added to the survey, not new supply.
Ryan Street Townhomes, Auburn 2026-27
28 beds first appear in 2026-27 already 100% occupied. Existing stock added to the survey, not new supply.
644 Harper, Auburn 2026-27
9 beds first appear in 2026-27 already 100% occupied. Existing stock added to the survey, not new supply.
The Aberdeen, Madison 2025-26
77 beds first appear in 2025-26 already 50% occupied. Existing stock added to the survey, not new supply.

9 of these are Auburn additions in 2026-27 (488 beds).