New Construction Lease Up
Partner with an Expert on New Construction Lease Ups
From concept to building completion, we’re the new construction lease up expert you can lean on. We’ve worked nationwide with developers and have an established 5 phase lease up plan that gets your new development fully occupied. Our process begins by analyzing your timeline and asking a few questions:
- Has construction begun?
- What’s the estimated completion date?
- Is this a long or short term hold?
Phase 1 - Build Your Foundation
If you’re just breaking ground on your new development, this is the ideal time to start your marketing. In what we call Phase 1, you’ll want to finalize:
- Your community name
- Get your logo started
- Order renderings
Resident360 can handle all these items for you. Additionally, this is a good time to get a Waiting List website up so you can start collecting email addresses for people that are interested in your new development.
Phase 2 - Driving Interest
Now that you have construction happening, there will be a lot of curiosity surrounding your new development.
We advise our clients to get large construction banners up around the development. These banners have your name, rendering, call to action, and website address. You’ll want to claim your Google business listing as well, so you have a presence on the search engine.
Also, this is the ideal time to get an email marketing campaign going for people that have given their email address and are looking for more info.
Phase 3 - Pre-Opening Activities
By this time, your new development is only months away from being open. Resident360 will create a full-featured, responsive website that will capture leads and give your new residents a place to go to pay rent, submit service requests, etc.
Captivating content, press releases, and your community collateral will be created as well. Your email marketing campaign will be used in pre-leasing, so you have immediate move-ins when your doors open. It’s also a good time to be strategizing local business partnerships for launch parties to help with the pre-leasing efforts.
Phase 4 - The Grand Opening
Once your community is open for move-ins, we’ll send out an experienced real estate photographer to photograph the property. We’ll create a shot list based on our conversations with you. The result is high-quality shots that will then be used in all your marketing.
Phase 5 - Market & Monitor
Now that your community is open, your marketing needs to continue so you can maintain your occupancy goals. In Phase 5, it’s all about delivering lots of qualified prospects for your new development. Resident360 will run Google & Facebook Ad campaigns to capture any traffic for people searching for a new apartment in your area. This is a very cost-effective way of generating a ton of qualified leads in a short amount of time.Tie Your Lease Up into the Dash360 Dashboard
Get a macro and micro look at your digital marketing through the Dash360 Marketing Dashboard. See an overview of all the digital traffic at your lease-up. Drill down into different traffic sources and get a deeper understanding as to what’s working for driving conversions & leases.
Additional New Construction Lease-Up resources you may find helpful:
Expect Exceptional
Modern Comfort in the Heart of Spokane Valley
500% Increase in Applications in 60 Days.
Frequently Asked Questions
Do you do asset repositions as well?
Yes, we've worked on several asset repositions.Do you do the work or just consult on the project?
Yes, we handle all the work for you on your new construction lease up.Will I have a dedicated point of contact throughout the lease up?
Yes, your point of contact will be an expert in new construction lease ups.How far in advance do I need to start the branding process?
We generally recommend starting the branding portion of the process a minimum of 12 months in advance. The team will then have time to come up with a general branding direction which includes: logo/ID, color pallet, primary & secondary taglines, and images, ensuring there is a cohesive message between the visuals and the copy.How far in advance should I start marketing my property?
Depending on how competitive the sub-market is, we recommend driving traffic to your landing page 90-days in advance, capturing leads through your funnel and building a 'priority list' prior to opening your leasing office. These steps will allow your team to start the engagement process.How many renderings should I consider for my property?
We recommend three renderings, 1 Exterior, 1 Common Area, and 1 Interior Apartment Rendering. This process generally takes 4-6 weeks.What is a new construction lease up?
Lease-up refers to the phase that occurs after a residential building has been fully constructed but has not yet reached a stable level of occupancy. Lease-up stabilization takes place when approximately 90%-95% of the building's units are occupied by residents who pay monthly rent.What is a recommended new construction lease up checklist?
Here's a new construction lease up checklist you can follow:
Pre-Construction
- Create community name, branding guide, and logo.
- Establish website URL.
- Develop a waiting list website (Landing Page) to collect email addresses.
- Put up large pre-construction signage with website and telephone number.
- Begin answering phone calls and follow up with internet requests.
- Begin press releases for local newspapers and other media outlets.
During Construction
- Place large banners on buildings with renderings, call to action, and website address.
- The URL on the banner will lead to a landing page to get their information. Bigger is better!
- Claim Google business listing and begin loading it with photos and information.
- Start your email marketing campaign and follow up with prospects asking for more info.
- Send prospects emails twice a month with construction updates showing the status of buildings and amenities. Make sure someone is available to reply promptly to prospects.
- Begin social media campaigns.
- Open select ILS accounts and begin online advertising.
- Launch digital marketing campaigns to include Google, Facebook, & SEO.
Pre-Opening Activities
- Introduce a full feature website ready to be explored by consumers. This captures leads and allows prospects to fully apply and pay online.
- Complete leasing material and collateral for immediate use. Have digital versions to email follow up information.
- Consider pre-opening leasing specials to accelerate move-ins and property income.
- Aim for move-ins on opening day.
- Develop partnerships with local businesses and housing referral agencies.
Grand Opening
- Get professional photos to enhance the website and other online presence.
- Plan an event that includes local officials and company executives.
- Make sure local media is at the event. Force it!
- Consider a soft opening followed by a GRAND Opening. Just make a big deal out of it!
- Get testimonials and incorporate them into your onsite presence.
Market Measure Monitor
- Determine the source of every internet, phone, and walk-in visitor. Determine the traffic sources that produce qualified leads...that commit!
- Continue aggressive Google, Facebook, & SEO Campaigns.
- Complete optimization of Google My Business Listing.
- Develop positive online reviews and continue to monitor your online reputation.
- Manage leads using a strong CRM tool. This will also enable your ongoing email marketing to interested prospects.
"We couldn’t be happier with the results from our pre-leasing landing page and priority list formation, and are looking forward to the final community website as that deploys closer to occupancy."
