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Lease-Up
The process of leasing vacant units in a new or renovated rental property as it moves toward its stated occupancy target.
Lease-up is the process of filling vacant units as a new or renovated rental property begins operating. It includes attracting prospects, handling inquiries, signing leases, and coordinating move-ins.
Report progress against a stated occupancy target and date. Signed leases, occupied units, and collected rent are separate milestones; a signed lease alone does not demonstrate that rental income has been received.
Source: AppFolio, How to Successfully Manage a Lease-Up, November 4, 2025.
Frequently Asked Questions
How should lease-up progress be reported?
State the reporting date and occupancy target, and distinguish leases signed from units occupied and rent collected.
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