Work back from a target occupancy and date to the leases, tours and inquiries you need every week. Built for new buildings and large lease-ups.
Leases needed per week
7.4
To hit your target you need about 7.4 leases, 22.2 tours and 88.6 inquiries every week.
The calculator takes the size of the building, the units already leased, your target occupancy and the weeks until your target date. It works out how many more leases you need, then uses your own tours-per-lease and inquiries-per-tour ratios to turn that into the tours and inquiries you need each week.
Units leased at target = units in the building x target occupancy / 100, rounded upLeases still to sign = units leased at target - units already leasedLeases per week = leases still to sign / weeks until the target dateTours per week = leases per week x tours per leaseInquiries per week = tours per week x inquiries per tourThe two ratios come from your own history, not from an industry average. If you do not track them yet, count last month's inquiries, tours and signed leases and divide.
Say a new 240-unit building has 36 units leased and the owner wants 95 percent occupancy in 26 weeks. Your team signs one lease for every 3 tours, and books one tour for every 4 inquiries.
| Step | Calculation | Result |
|---|---|---|
| Units leased at target | 240 x 95 / 100, rounded up | 228 |
| Leases still to sign | 228 - 36 | 192 |
| Leases per week | 192 / 26 weeks | 7.4 |
| Tours per week | 192 x 3 / 26 weeks | 22.2 |
| Inquiries per week | 576 x 4 / 26 weeks | 88.6 |
In this example the team has to bring in about 88.6 inquiries and give about 22.2 tours every week for 26 weeks straight. Miss a week and the pace for the rest goes up.
Start from the number of units you need leased by a target date, subtract the units already leased, and divide by the weeks left. Then use your own conversion rates to turn weekly leases into the tours and inquiries you need.
A lease-up is the period when a new or newly renovated rental building fills from empty to its target occupancy. It ends when the building reaches the occupancy level the owner plans to hold.
From your own numbers. Divide the tours your team gave last month by the leases signed to get tours per lease, and divide inquiries by tours to get inquiries per tour. For a brand new building, use figures from a similar building you manage.
You cannot lease part of a unit. 95 percent of 250 units is 237.5, so the calculator aims for 238 to make sure the target is met.
Change one of the levers: move the target date, lower the target occupancy, or improve a conversion rate. Replying to inquiries faster and making tours easy to book are the levers most teams control day to day.
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