Leasing

Glossary

Leasing is the process of turning prospects into residents through applications, approvals, signed leases, and move-ins.

Definition

Leasing is the set of activities that move a prospective renter from interest or application to an approved, signed lease and eventual move-in. In multifamily operations, leasing is a core property management responsibility alongside tenant screening, renewals, occupancy tracking, resident communication, and compliance. Teams often measure leasing outcomes by counting leads who started a lease within a selected time frame, with each lead counted once for that metric.

Example

A 250-unit apartment community reviews weekly leasing activity and sees that 18 prospects started leases during the period. The operations team compares that count with applications, move-ins, and available units to decide where leasing follow-up or marketing support is needed.

Why It Matters?

Leasing directly affects occupancy, revenue, staffing priorities, and marketing decisions. A consistent definition of what counts as a lease helps leaders compare performance across communities and calculate metrics such as spend per lease.

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