When setting rental rates during the lease-up period, it is important to consider the market rate for similar properties in the area, the amenities and features of the property, and the target demographic. It is also important to consider the cost of the lease-up period, as this can have an impact on the rental rates. Additionally, it is important to consider the potential for future rent increases, as this can help to ensure that the property is able to remain profitable in the long-term. Finally, it is important to consider the potential for tenant turnover, as this can have an impact on the rental rates as well.
For more information, please see the following sources:
Challenges of the Apartment Lease-Up Period
Rental Rates During the Lease-Up Period