Property Marketing & Leasing Strategies Flashcards

A property spent $6,000 on an internet listing service in one month and signed 12 leases attributed to that source. What is the cost per lease?

Answer: $500

Cost per lease equals marketing spend divided by leases signed: $6,000 / 12 = $500.

Which metric best measures how well leasing agents turn in-person tours into signed applications?

Answer: Tour-to-application closing ratio

The tour-to-application (closing) ratio shows how effectively agents convert prospects who actually visit the property.

Under the Fair Housing Act, which ad phrase is most likely to be considered discriminatory?

Answer: "Ideal for mature couple"

"Mature couple" signals a preference based on familial status and possibly age, which advertising rules prohibit.

A community has 200 units, 10 vacant units, and 8 residents who have given notice to vacate with no pre-leases. What is the exposure count?

Answer: 18

Exposure equals vacant units plus notice-to-vacate units not yet re-leased: 10 + 8 = 18.

What is the primary purpose of a resident referral program?

Answer: To generate lower-cost, higher-quality leads from satisfied residents

Referral programs reward residents for sending prospects, typically producing well-qualified leads at a low cost per lease.

When should a leasing agent ask qualifying questions such as desired move-in date and budget?

Answer: Early in the first contact, applied consistently to every prospect

Asking the same qualifying questions early with every prospect saves time and supports fair housing consistency.

A property offers one month free on a 12-month lease at $1,500 per month. What is the effective monthly rent?

Answer: $1,375

Effective rent is ($1,500 x 11) / 12 = $1,375 per month.