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Preleasing Velocity Calculator
Lease-up velocity milestones indicate on-track or behind for a new construction property.
Projected at delivery
156
Target units
165
Gap to target
9
How the math works
Projected = current + weekly × weeks. Gap = target − projected.
60 + 6 × 16 = 156 projected. 220 × 75% = 165 target. Gap 9 units behind.
How to Use
- Enter total units.
- Enter weeks to delivery.
- Enter current preleased units.
- Enter target % preleased at delivery.
- Enter weekly velocity assumption.
- Read status and pace.
Frequently Asked Questions
Preleasing targets?
180 days to delivery: 15-25% preleased. 90 days: 35-55%. 30 days: 55-75%. Delivery date: 65-85%. Stabilized 6 months post: 90-95%. Strong markets: 20-30% higher. Weak markets: 15-20% lower. Class A new construction: 70-85% at delivery typical. Misses by 20+ percentage points: red flag, underwriting assumptions off.
Velocity benchmarks?
Weekly lease pace: 1-3% of capacity per week during active preleasing (180-30 days out). 200-unit building: 2-6 leases per week. Peak velocity 60-30 days: 3-8 per week. Post-delivery ramp: 4-10 per week until stabilized. Hot markets push higher velocity. Competing new supply drags. Concessions drive 15-30% velocity lift temporarily.
What drives preleasing?
(1) Submarket fundamentals (vacancy, absorption). (2) Competing new supply. (3) Asking rent vs market. (4) Unit mix alignment with demand. (5) Amenity package quality. (6) Marketing/advertising intensity. (7) Early incentives for preleasers. (8) Agent team quality. (9) Online presence (website, virtual tours, model visibility). (10) Brand/developer reputation.
Corrective actions?
Behind pace: (1) Increase ad spend 50-100%. (2) Add concessions (1-2 months free). (3) Reduce asking rent 5-10%. (4) Aggressive look-and-lease. (5) Broker partnerships (pay outside broker $1-2k per lease). (6) Move-in dates earlier (absorption). (7) Amenity pre-opening events (buzz). (8) PR push local media. Ahead of pace: lock in rent by reducing concessions; prepare to push rent 3-5% on subsequent leases.
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