Lease Conversion
The share of prospects that become signed leases.
Definition
Lease Conversion is The share of prospects that become signed leases. Teams usually run into it when the portfolio is either turning opportunity into signed revenue or losing money through process gaps.
What makes it useful is that this is where managers see whether front-end leasing work is translating into real financial performance. The term helps connect operational leakage to a number that ownership can actually react to.
Use cases
Use Lease Conversion to measure whether opportunity is becoming signed revenue.
Review Lease Conversion when the team needs to find where process gaps are leaking money out of the portfolio.
Track Lease Conversion so operations can translate operational misses into a number ownership can respond to.