Lease Expiration – Smoothing the highs and lows

By the Operations Team

The occupancy roller coaster is one of the worst rides an apartment community can take.

There’s no fun in watching your NOI soar, only to plunge back down when the leases you signed to achieve those numbers all expire at the same time.

It’s important for your Property Management company to know your goals, and to provide a strategic lease balance plan.

Here is a sample of what we consider when creating a lease balance plan for our clients:

1. 1. When is the hottest season to lease?

1. 1. Is this season hot for all unit types or do hot seasons vary?

1. 1. Does the property have any unique competitive advantages?

1. 1. When does new leasing traffic slow?

1. 1. What drives these changes? Employment contracts? School? Weather?

This is a small sample, normally you’ll want to consider 8+ factors in order to create a lease expiration plan that can smooth out the highs and lows.

Are you satisfied with your property performanc? 

If not let’s talk.