What formula does your company use to calculate "leasing velocity"?

Topic Author

Becca Wilson

Posts: 3
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4 years 2 days ago #43468 by Becca Wilson

What formula does your company use to calculate "leasing velocity"? was created by Becca Wilson

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4 years 2 days ago #43468 by Becca Wilson

Anonymous

4 years 2 days ago #43469 by Anonymous

Replied by Anonymous on topic What formula does your company use to calculate "leasing velocity"?

Hate to seem disconnected but that is a term I am not familiar with. I have a guess by what it means but can you give a good definition for those of us who may not be fully versed. Thank you

4 years 2 days ago #43469 by Anonymous

Bernadett Galliher

4 years 2 days ago #43470 by Bernadett Galliher

Replied by Bernadett Galliher on topic What formula does your company use to calculate "leasing velocity"?

www.rentviewer.com/blog/leasing-velocity/
Here is a great article for you

4 years 2 days ago #43470 by Bernadett Galliher

Topic Author

Becca Wilson

Posts: 3
Thank you received: 0

4 years 2 days ago #43471 by Becca Wilson

Replied by Becca Wilson on topic What formula does your company use to calculate "leasing velocity"?

That is a great article. The high level definition of Leasing Velocity can be defined differently per type of asset and can be simple or complex in the number of data points included in the formula, which is why we were hoping to hear some different viewpoints on this. Generally its the rate of lease turnover as measured by the length of time a unit is unoccupied between leases.

4 years 2 days ago #43471 by Becca Wilson

Jaymz Yates

4 years 2 days ago #43474 by Jaymz Yates

Replied by Jaymz Yates on topic What formula does your company use to calculate "leasing velocity"?

average days vacant, usually by unit type.

4 years 2 days ago #43474 by Jaymz Yates

Jacklyn Arnest

4 years 2 days ago #43475 by Jacklyn Arnest

Replied by Jacklyn Arnest on topic What formula does your company use to calculate "leasing velocity"?

Average days vacant by unit type, turn percentage, and up to 3 years historical data to determine future lease trends if a stabilized property to calculate over 60 days of projections. On a lease up, I look at leased percentage per performa and first time traffic trends.

4 years 2 days ago #43475 by Jacklyn Arnest

Heidi Jehlicka

4 years 2 days ago #43476 by Heidi Jehlicka

Replied by Heidi Jehlicka on topic What formula does your company use to calculate "leasing velocity"?

are you calculating in a BI tool or a manual spreadsheet. Property management software is not this advanced for sure.

4 years 2 days ago #43476 by Heidi Jehlicka

Jacklyn Arnest

4 years 2 days ago #43477 by Jacklyn Arnest

Replied by Jacklyn Arnest on topic What formula does your company use to calculate "leasing velocity"?

we do manually right now because the market data from our vendors is too delayed with new development competition.

4 years 2 days ago #43477 by Jacklyn Arnest

Babbie Miley Jaco

4 years 2 days ago #43478 by Babbie Miley Jaco

Replied by Babbie Miley Jaco on topic What formula does your company use to calculate "leasing velocity"?

We just lease up fast! We had a three day lease up last month and now, we are in the middle of two of them and both need to be full by Dec and we got both in Sept. we know for over a year the property is coming so it’s a bit of an open book test Market daily ahead of time creating excitement and if the product is good and reasonably priced, and we have a great staff, it sells.

4 years 2 days ago #43478 by Babbie Miley Jaco