Property Marketing & Leasing Strategies Flashcards

Which leasing strategy is most effective at reducing turnover costs?

Answer: A proactive renewal program starting 90-120 days before lease expiration

Contacting residents well before expiration gives time to address concerns and secure renewals, which cost far less than turnover.

A property receives 120 leads, 48 tours, and 16 leases in a month. What is the lead-to-lease conversion rate?

Answer: 13.3%

Lead-to-lease conversion is 16 / 120 = 13.3%.

Which is a fair housing concern when using targeted social media advertising?

Answer: Excluding audiences based on protected characteristics such as familial status or national origin

Restricting ad delivery based on protected classes can constitute discriminatory advertising under the Fair Housing Act.

What is the main purpose of preparing a "model" or "show" unit?

Answer: To let prospects visualize living in the home and see its potential

A furnished, well-staged model helps prospects emotionally connect with the space and imagine themselves living there.

Which pricing approach adjusts rents daily based on supply, demand, and lease expirations?

Answer: Revenue management (dynamic) pricing

Revenue management software recommends rents by unit and lease term based on real-time market and inventory data.

A leasing agent finishes a tour and the prospect seems interested but undecided. What is the best next step?

Answer: Ask for the application or a commitment, such as a holding deposit

Closing means directly asking for the commitment while interest is high, within approved policy.

Why is lease expiration management important for marketing strategy?

Answer: It prevents too many leases from expiring in slow seasons, keeping vacancy manageable

Staggering expirations toward peak leasing months reduces vacancy risk and marketing pressure during slow periods.