Leasing Velocity

Glossary

Leasing velocity measures how quickly available apartments are leased, helping multifamily teams assess demand, vacancy risk, and leasing performance.

Definition

Leasing velocity is the speed at which available apartment units are leased. In multifamily operations, it can be measured from unit availability to signed lease, or as leases per week or month. It is most useful when viewed alongside related metrics like availability, lead response, tour conversion, application starts, and move-ins.

Example

A community has 30 available units and is averaging 10 net leases per week over the last three weeks. Operations leaders can use that leasing velocity to understand whether availability is being absorbed quickly enough or whether pricing, marketing, follow-up, or tour execution needs attention.

Why It Matters?

Leasing velocity helps leaders see whether demand is turning into signed leases fast enough to reduce vacancy pressure. Used with balancing metrics, it gives better context than availability alone and helps teams avoid overreacting to one number without understanding leasing momentum.

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