Pre-Leasing Interior Design Essentials



How do you sell an idea, a concept or a brand? Furthermore, how can you lease an apartment when it doesn’t exist? When it comes to multifamily pre-leasing, having all your project’s conveniences, amenities, and selling points all mapped out is essential. This is where the importance of a pre-leasing interior design plan comes into play for your project.

 

Pre-Leasing Interior Design Essentials

 

You probably know it’s not enough to have architectural drawings and trendy features in a brochure for your potential tenants to see. If you want to succeed in today’s demanding multifamily market, your preliminary efforts have to accomplish more. For one thing, they must resonate with your target market in a tangible way. Partnering with an interior design group with a proven record of nationwide projects can help your development achieve early success. In a word, it boils down to giving your end-user a credible interpretation of what they can expect, and this is an area of expertise for interior design groups.

 

Pre-Leasing Interior Design Essentials

Create A Pre-Leasing Interior Design Model

As part of an apartment management team, you know the challenges of pre-leasing units sight-unseen. For this reason, having an extra-fabulous model unit set up with the best finishes and amenities is a critical requirement. With this in place, it will be easier to pre-lease and reserve units while your project is under construction. To illustrate this strategy, a project that has done a great job at utilizing pre-leasing essentials is State Street Station in Wauwatosa, Wisconsin.

 

Pre-Leasing Interior Design Essentials

Using social media to promote pre-leasing. State Street Station updates followers regularly on its development progress.

 

Demographics

The first thing to remember about demographics are the trends that drive them. Knowing which trends are “evergreen” and which are passing fads can be tricky. This is why your  project could use a designer’s expertise to help research and engage your market. In other words, all multifamilystudent housing, new construction, or reconstruction projects need persuasive pre-leasing interior design elements. For this reason, a design group is best at determining what your end-user truly wants. Furthermore, the best interior designers know how to create a FOMO (fear of missing out) buzz through the use of relevant finishes and well-suited amenities.

 

Pre-Leasing Interior Design Essentials

Connecting with demographics, one-on-one. State Street Station takes pre-leasing to the streets.

 

Pre-Leasing Interior Design Essentials

Services You Will Need

Interior designers can help property managers and developers by providing a number of key services that assist with pre-leasing. Ultimately, as previously mentioned, having a model unit installed and furnished is optimum for securing reservations. These unit models can even be set up offsite while a project is still under construction. The benefit of having a selling tool like this is extraordinary and an interior design firm can make it happen.

 

Pre-Leasing Interior Design Essentials

The State Street Station website features a 3-D virtual tour of the property.

Pre-Leasing Interior Design Essentials

Other interior design services that can facilitate your pre-leasing efforts are 3-D renderings using CAD, Revit, or Sketchup. These renderings can even be animated to provide a virtual “walk-through video.” It’s important to realize the value of virtual videos like this. They are not only ideal for a project’s website, but can also be shared across social media channels.

 

Pre-Leasing Interior Design Essentials

 

Lastly, interior designers assemble comprehensive FF&E (Furniture, Fixtures & Equipment) boards. The FF&E displays mounted samples of wall and floor coverings, counter-top samples, upholstery swatches, and photos of furnishings and amenities intended for a particular unit. Having an FF&E board on hand to show visitors is, for all intents and purposes, a must-have.

Adopting the ideal pre-leasing tactics can jump-start your tenancy long before your grand opening. Engaging the expertise of an interior design group can help you connect with your future tenants and reach your fiscal goals.