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For those of you who work on new construction lease-ups, what do you wish they did to help set accurate and effective rents?
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2 years 5 months ago #61265
by Kimberly Hurd
For those of you who work on new construction lease-ups, what do you wish they did to help set accurate and effective rents? was created by Kimberly Hurd
For those of you who work with the development team at your company on new construction lease-ups, what do you wish they did, asked about or looked at when visiting competitors in a new market to help set accurate and effective rents? Putting together a fun little presentation for our development team and I would love input from others. Thanks!
2 years 5 months ago #61265
by Kimberly Hurd
Reply to Kimberly Hurd
2 years 5 months ago #61266
by Leah Orsbon
Replied by Leah Orsbon on topic Re: For those of you who work on new construction lease-ups, what do you wish they did to help set accurate and effective rents?
I’ve seen development teams pull data that’s inaccurate. I think boots on the ground actual tours should be done.
2 years 5 months ago #61266
by Leah Orsbon
Reply to Leah Orsbon
Kimberly Brown Hurd
2 years 5 months ago #61267
by Kimberly Brown Hurd
Replied by Kimberly Brown Hurd on topic Re: For those of you who work on new construction lease-ups, what do you wish they did to help set accurate and effective rents?
Definitely encouraging them to go to the site and get out of their car!
Susan Gobble Passmore
2 years 5 months ago #61268
by Susan Gobble Passmore
Replied by Susan Gobble Passmore on topic Re: For those of you who work on new construction lease-ups, what do you wish they did to help set accurate and effective rents?
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- Posts: 38
- Thank you received: 3
2 years 5 months ago #61269
by James Shannon
Replied by James Shannon on topic Re: For those of you who work on new construction lease-ups, what do you wish they did to help set accurate and effective rents?
As someone who’s worked at a lease up, and actually had to lease- understanding the market!!!
2 years 5 months ago #61269
by James Shannon
Reply to James Shannon
2 years 5 months ago #61270
by Kyle Hartman
Replied by Kyle Hartman on topic Re: For those of you who work on new construction lease-ups, what do you wish they did to help set accurate and effective rents?
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2 years 5 months ago #61270
by Kyle Hartman
Reply to Kyle Hartman
2 years 5 months ago #61271
by Lisa Gallinar
Replied by Lisa Gallinar on topic Re: For those of you who work on new construction lease-ups, what do you wish they did to help set accurate and effective rents?
Look at the average income of said tenants, not just the rents.
2 years 5 months ago #61271
by Lisa Gallinar
Reply to Lisa Gallinar
Vicki Hurley
2 years 5 months ago #61272
by Vicki Hurley
Replied by Vicki Hurley on topic Re: For those of you who work on new construction lease-ups, what do you wish they did to help set accurate and effective rents?
I complete a 144 unit lease up in 7 months during Covid. After obtaining 100% occupancy we realized their was a serious parking issue. I think this is kind of common. Make the development team understand they just because the city says 1.5 per unit does not mean that’s adequate. Take in to account unit mix and the fact that even those living alone sometimes have more than 1 vehicle.
Greg Miller
2 years 5 months ago #61273
by Greg Miller
Replied by Greg Miller on topic Re: For those of you who work on new construction lease-ups, what do you wish they did to help set accurate and effective rents?
Vicki Hurley Where I live, if you have multiple vehicles, you get one permit, then the other car has to go to the visitor parking.
Carol Ann Cordell
2 years 5 months ago #61274
by Carol Ann Cordell
Replied by Carol Ann Cordell on topic Re: For those of you who work on new construction lease-ups, what do you wish they did to help set accurate and effective rents?
Please for the love of god do not create 125 different floor plans on a 200 unit property (or any size really)!!!!
Kiara Lashae'
2 years 5 months ago #61275
by Kiara Lashae'
Replied by Kiara Lashae' on topic Re: For those of you who work on new construction lease-ups, what do you wish they did to help set accurate and effective rents?
Parking, parking , parking
Suzanne Thomson
2 years 5 months ago #61276
by Suzanne Thomson
Replied by Suzanne Thomson on topic Re: For those of you who work on new construction lease-ups, what do you wish they did to help set accurate and effective rents?
a 12 month average occupancy and rental rates not a 1 time spot check. Mid-summer is not an indicator of average occupancy or rates.
Kimberly Brown Hurd
2 years 5 months ago #61277
by Kimberly Brown Hurd
Replied by Kimberly Brown Hurd on topic Re: For those of you who work on new construction lease-ups, what do you wish they did to help set accurate and effective rents?
Thanks everyone for your feedback and comments! I am thankful that our development team wants to learn what is important to us and work collaboratively to create better communities. KCG Residential is a developer, builder and manager of LIHTC communities and your comments and feedback are greatly appreciated! Many of these recommendations apply to all sectors of new development!