Is Anyone Else Seeing This? Leasing Is the Hardest I’ve Ever Seen It — And Some Landl

[Chase Calhoun]

Alright, I’m going to say the thing a lot of people in my market don’t want to admit:

Leasing right now is the hardest I’ve ever seen it in Central Arkansas.
Not “kinda slow.” Not “seasonal.”
I mean straight up difficult.

And what’s wild is… some landlords and PM companies are still acting like tenants are fighting over units and they can take three days to return a call like it’s 2021.

Meanwhile, here’s what we’re actually experiencing:

• Tons of inquiries. Tons of showings. Almost no applications.

• The applicants who do apply are slow, hesitant, and shopping 10 other options.

• Backouts are way higher, people flake because there are 100 other units they can jump to.

• Inventory is stacked in most submarkets.

• Even with concessions like ½ month free or 1 month free, lease-ups are still crawling.

• And yet… I still see landlords acting like every applicant is disposable and they can move at the speed of a DMV.

It’s crazy to me.

In our company, we’ve had to shift our entire approach.
We’re treating leasing like a sales funnel, because that’s what it is right now:

• Inquiry → Showing → Application → Approval → Deposit → Move-in

• Maximize leads

• Follow up often

• Move people to the next step

• Reduce friction everywhere we can

• Treat applicants like actual customers, not a nuisance

Because whether people like it or not, tenants suddenly have the power.
More options. More incentives. More flexibility.

And some PM companies are still taking 48–72 hours to approve someone.
No follow-up. No urgency. Acting like the applicant is lucky to be considered.

I loved the days of multiple apps per unit.
But that’s not the reality right now.

My question to the group:

Should we be
A) moving “slow and steady” with lease-ups in a slow market,
or
B) doubling down on speed, responsiveness, and getting good tenants approved fast as long as they meet the requirements?

Because I’m convinced that in this market, speed wins, and the landlords still moving like molasses are going to get buried under vacancy.

Curious what others are seeing in their markets.

[Adam Bartomeo]

If this is the worst that some landlords have seen it, then they haven't been investing very long. I normally opt for getting the unit rented sooner than later. The math always turns out more positive to lower the rent and get it rented sooner, then to have a higher rent and have it vacant for months.