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Leasing Velocity
The pace at which available units progress through the leasing process from inquiry to signed lease.
Leasing velocity describes how quickly available units move from inquiry to signed lease. Reviewing inquiry, showing, application, and signature milestones helps a team locate delays within that process.
State the population, reporting period, and start and finish milestones used in a velocity report. Keep the pace of progress separate from the share of leads that convert, a listing's days on market, and completed move-ins; those measures describe different parts of leasing performance.
Source: RealPage, Property Management CRM Guide, Leasing Velocity and Funnel Reporting.
Frequently Asked Questions
How does leasing velocity differ from lead-to-lease conversion?
Velocity concerns how quickly leasing progresses. Lead-to-lease conversion measures the share of a defined lead group that becomes signed leases.
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