‘Hit the First Year Hard’: Inside Lease-Up Strategies of Benchmark, LCS, Mather, The Springs Living
Senior Housing News December 9, 2024
Achieving strong lease-up before and after a community opens is critical for setting the stage for a new project reaching stabilization – and not an easy feat.
Operators must contend with local market competition, sometimes within new markets; balance sales and marketing tactics to raise brand awareness; and leverage seemingly every department involved in community operations to net strong lease up.
It’s no secret that a community’s first year is important – according to a recent report from NIC MAP Vision, that time is “decisive in setting the trajectory” toward long-term stabilization and future operating performance. Data shows that occupancy gains tend to level off after the first year of operations, and newer communities with stronger lease-up momentum in the...