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Prelease
By Contributor on February 27, 2019
To prelease a property refers to the securing of tenants before the premises is ready for occupancy.
This can be the case even when the property has not even been completely built.
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What lenders hope you never learn about mortgages
Sometimes banks might even make prelease a condition for approving a mortgage for investment property.
For example, a risky multi-family building might be deemed as too much risk unless it already has a certain percentage of occupancy commitments.
This is as opposed to lease which refers to securing tenants with a house that’s ready for tenants to inhabit.
And while it is related to the term lease, it is not related to the word release.
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