The key to leasing success, especially lease-up
success, is to meet consumer demand and deliver a leasing experience that falls into this new paradigm.
Petersburg market: Modera Westshore, currently in lease-up
, and Modera Prime 235 which is scheduled to begin leasing in January 2014.
With all of the new apartment supply coining online, it's also no surprise that we're revisiting the strategic application of revenue management to new community lease-up
The panel, titled "Who's Buying and Building to Lease-Up
and Changes On-Campus-A Mid-Year Status Update on the Student Housing Industry", focused on the trends in student housing.
1100 Jefferson was an unmitigated success as we were able to demonstrate to renters the quality, luxury, lifestyle and value offered at the property which led to a rapid lease-up
," said Jacqueline Urge, president of The Marketing Directors, Inc.
Revenue management technologies are also making significant inroads into the student housing sector, a market with unique lease-up
, expiration and supply and demand curves that could often challenge pricing systems built with market rate leasing assumptions in mind.
What was the fastest lease-up
in apartment history?
Cataline says Bozzuto's lease-up
websites and social media forums allow prospective residents to join the community's "VIP" list simply by sharing their e-mail address.
John Williams, Chairman and CEO, commented, "The disappointing results we have experienced over the past few months with some of our development and lease-up
activities has led us to make a thorough reassessment of our markets, our development pipeline, and our capital funding plans.
He says if an AvalonBay lease-up
is averaging below 20 percent it indicates that it should 1) revisit pricing; 2) consider a concession strategy; 3) question staffing quality/quantity; or 4) broaden the competitive horizon to see who else is out there.
However, developing and implementing programs to engage mom and dad may simplify lease-up
challenges at the start of each semester.
As a result, at the end of the first month of lease-up
, when it was expected that the first building would be fully occupied so the owner could begin claiming tax credits, occupancy fell short of expectations.