Pre-Leasing
Pre-leasing means marketing and signing apartment leases before units are ready, helping multifamily teams plan occupancy and cash flow.
Definition
Pre-leasing is the practice of marketing, screening, and signing leases for apartments before they are ready for move-in. In multifamily, it often applies to new construction, renovations, or occupied units with a future availability date. It is a key part of lease-up planning because leasing activity begins before the property or unit is fully available.
Example
A 250-unit community scheduled to open in June starts pre-leasing in March. The leasing team uses floor plans, construction updates, virtual tours, pricing, and future move-in dates to collect applications and sign leases before the first units are complete.
Why It Matters?
Pre-leasing helps operations leaders reduce the time between unit availability and rent collection. For new developments or renovations, it supports occupancy planning, staffing decisions, marketing spend, and early cash-flow projections during the lease-up period.
