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Meaning & use

preleasing

noun·AdvancedbusinessAmerican

Last updated

UK/ˌpriːˈliːsɪŋ/
US/ˌpriːˈliːsɪŋ/

Meanings

  1. noununcountable

    The renting out of apartments or commercial space before the building is finished or the previous tenant has left.

    Grammar: Uncountable: preleasing begins in spring.

    Patterns

    • preleasing of something
    • begin preleasing

    Preleasing for the new apartment complex began six months before construction ended.

    The developer reported strong preleasing, with half the units already signed.

    Students often join the preleasing period so they can secure a flat near campus.

  2. noununcountable

    The signing up of tenants early for a future lease period, typically so units can be filled before they become free.

    Grammar: Uncountable: the preleasing period lasts for two months.

    Patterns

    • preleasing period
    • preleasing season

    Preleasing season starts in January at most college towns.

    The landlord offered a discount during preleasing to fill the building quickly.

    Their preleasing activity picked up once the model apartment opened.

Common combinations

strong preleasing
Strong preleasing gave the bank confidence to fund the project.
preleasing agent
The preleasing agent showed the floor plans to visitors.
begin preleasing
The company will begin preleasing in March.
preleasing period
The preleasing period ends when construction does.
preleasing rate
The building has a preleasing rate of seventy percent.

Synonyms and how they differ

early leasing
It is the plain-English equivalent and is easier for non-specialists to understand.
advance booking
It is general and is used for hotels or tickets, not for tenants.
presales
It refers to selling units, whereas preleasing means renting them.

Opposites

vacancy

Word family

lease verb
to rent property under a contract
lease noun
the contract itself
preleased adjective
already rented before completion
lessee noun
the person who rents

Commonly confused: preleasing or prelease?

preleasing vs prelease

Prelease is the verb, meaning to rent in advance, while preleasing is the noun for the practice.

Practice

What does preleasing mean for a new apartment block?

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