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

Topic Author

Becca Wilson

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Posts: 3

Posted 3 years 4 months ago

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Anonymous

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

Posted 3 years 4 months ago

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Bernadett Galliher

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

Posted 3 years 4 months ago

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Topic Author

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.

Posted 3 years 4 months ago

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Jaymz Yates

average days vacant, usually by unit type.

Posted 3 years 4 months ago

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Jacklyn Arnest

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.

Posted 3 years 4 months ago

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Heidi Jehlicka

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

Posted 3 years 4 months ago

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Jacklyn Arnest

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

Posted 3 years 4 months ago

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Babbie Miley Jaco

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.