Long term, this is a good thing. It means we’re finishing projects we started, in some cases, years ago, fulfilling the promises we made to investors. And, in a lot of cases, it means we get paid!
But having a bunch of product come online at once induces serious “leasing anxiety”. That means I’m constantly checking on our ads, chasing our consultants for updates, and hoping that email I just received on my phone is a tenant application.
What we need during a time like this is a kind of “leasing zen”. We need to do everything possible to ensure we’re putting our best foot forward to potential tenants while also understanding that there are a certain number of potential tenants in our submarkets each month looking for apartments and we’re only going to capture some fraction of that number.
So, that’s the diagnosis and the prescription… the problem is that I’m no good at being zen!