pre-leasing

Meaning

1. 1noununcountablebusiness

   The practice of signing tenants to lease contracts for space in a building before construction is complete or before it opens.

   Grammar: Used as a mass noun: pre-leasing is going well, not a pre-leasing.

   Patterns

   • pre-leasing of something
   • pre-leasing begins

   Pre-leasing at the new office tower reached sixty percent before the roof was even finished.

   The developer needed strong pre-leasing to convince the bank to fund the project.

   Pre-leasing for the student apartments opens in January, eight months before move-in.

Common combinations

pre-leasing activity

Pre-leasing activity picked up once the city approved the transit line.

strong pre-leasing

Strong pre-leasing made the lender comfortable with the loan.

begin pre-leasing

The company will begin pre-leasing the warehouse units next month.

pre-leasing agreement

The retailer signed a pre-leasing agreement for a ground-floor unit.

level of pre-leasing

The level of pre-leasing determines whether construction starts on time.

Synonyms and how they differ

advance letting

This is the British-leaning everyday phrase and sounds less technical than pre-leasing, which is common in financial and development reports.

pre-letting

It means the same thing but is the usual British spelling and word, whereas pre-leasing is more American.

off-plan rental

It focuses on renting a unit from the drawings, often a single flat, while pre-leasing usually covers whole floors or buildings.

Word family

pre-lease verb

to sign a lease on space that is not yet ready

pre-leased adjective

already rented out before completion

lease noun

the contract that gives a tenant use of a property

lessee noun

the tenant who signs the lease

Commonly confused: pre-leasing or pre-selling?

Practice

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Write a sentence using “pre-leasing”, then check it and compare it with the examples above.

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