Leasing and Marketing
Lease Up Strategy for New Multifamily Construction
Your lease-up sets the tone for the whole life of the property. Here's how to plan pre-leasing, pricing, concessions, staffing and marketing before the doors open.
· 9 min
Free tool
Lease-up calculator for apartment communities
Enter your units, how many are leased, and how many leases you expect each month. See the months to reach your target occupancy, the date you stabilize, and the rent lost along the way.
What a lease-up costs
Every empty home in a lease-up is rent you are not collecting while the costs of the building are running. The question that matters is how long the climb takes, since each extra month at a low occupancy adds up.
This model is a straight line: new leases per month, less move-outs, until you reach your target. Real leasing moves in seasons and steps, so use the calculator to compare cases. Try a slower pace to see the downside, and a faster one to see what a stronger launch is worth.
The Reno absorption figure is market context. It shows how many units the whole market is absorbing, not what your building will do. Your pace depends on price, condition, location, marketing and the new supply near you.
Want a lease-up plan for your community?
Send us your unit count, pricing and timeline. We will build a plan to reach your target occupancy.
Questions
Lease-up calculator questions
How does this lease-up calculator work?
The lease-up calculator starts from the units you have already leased, adds your new leases each month, subtracts any move-outs, and counts the months until you reach your target occupancy. It also totals the rent you do not collect on empty homes along the way.
What is a stabilized occupancy?
Stabilized occupancy is the level where you consider a new or renovated building leased up. Owners and lenders each set their own figure. Enter the target you use and the calculator counts to it.
How do I choose a leases per month number?
Use what you have seen in your own building, or what comparable communities in your area have done, and run a few values. Leasing is seasonal and lumpy, so treat the pace as an average and test a slower case as well.
What do move-outs do to the timeline?
Every move-out takes a unit back out of the leased count, so net progress each month is new leases minus move-outs. If they match, the building never reaches the target, and the calculator says so.
How is lost rent during lease-up calculated?
For each month until you reach the target, the calculator multiplies the units not leased at the start of the month by the rent you enter. It compares against every home being leased, so it shows the cost of the time, not a discount.
How should I read the Reno absorption number?
It is the net number of units occupied across the whole Reno market over the past year, from ALN Apartment Data. It describes demand for all conventional properties together and does not predict how fast your building will lease.
Can Next Level run a lease-up for my community?
Yes. We lease up new and renovated communities in Reno, from pricing and marketing to leasing operations. Send us the property details and we will build a plan for your pace and your target.
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