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Topic: For those of you who work on new construction lease-ups, what do you wish they did to help set accurate and effective rents?
Topic Author
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!
Posted 1 year 9 months ago
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.
Posted 1 year 9 months ago
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!
Posted 1 year 9 months ago