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

Little Rock, Arkansas
General Landlording & Rental Properties
10moFollow

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

Chase Calhoun
Property Manager · Little Rock, AR · Member since 2018 · 58 posts · 47 votes

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.

2Reply
597 views

Most Popular Reply

Adam BartomeoBusiness Member
Real Estate Broker · Cape Coral, FL · Member since 2015 · 2k+ posts · 1k+ votes
10mo

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.

[email protected]239-339-3969
Bartomeo Property Management4.7150 Reviews
WebsiteView Page
6Reply
See this reply in the discussion

24 Replies

Jump to latestLatest
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    10mo

    what has caused the in balance  IE more inventory than renters ???  My self as a one who has been self employed my entire life speed is essential. From answering the friggin phone live and not hiding behind text messaging etc etc.  

    Totally agree with you on your thought process if yall are fighting for tenants.

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    2Reply
    • Chase Calhoun
      OP
      Property Manager · Little Rock, AR · Member since 2018 · 58 posts · 47 votes
      10mo
      Quote from @Jay Hinrichs:

      what has caused the in balance  IE more inventory than renters ???  My self as a one who has been self employed my entire life speed is essential. From answering the friggin phone live and not hiding behind text messaging etc etc.  

      Totally agree with you on your thought process if yall are fighting for tenants.


      Jay, great question. I’m not 100% sure either, but when I looked today in our local market it appears there are roughly 2–3x more available units showing on Zillow than what we’re used to seeing a few years ago. A few things I think are contributing to the imbalance:

      1. A lot of new supply hit the market recently.
      We’ve had a decent amount of new apartment construction come online over the last few years. Those units are finally getting delivered and hitting the leasing market all at once.

      2. STR → LTR conversions are happening.
      I personally had six small short-term rentals that we pulled off Airbnb this year and converted back into long-term rentals. I wouldn’t be surprised if others are doing the same as STR revenue softens.

      3. Tornado recovery brought a ton of units back.
      We had a tornado wipe out a big chunk of housing supply about two years ago. A good portion of that inventory has now been rebuilt and returned to service, which definitely adds to supply.

      4. Tenants are getting financially squeezed.
      With costs up across the board, I’d guess more people are doubling up, living with family, or staying put longer rather than forming new households. That reduces demand even with population growth.

      5. Strong job market, but maybe slower migration.
      Our area still has a solid job market and people are moving in, but it feels like the pace may have cooled off a bit compared to the last few years.

      That’s just my on-the-ground read as an owner/operator doing quite a bit of leasing right now.

      How’s the rental market in your area? Are you seeing anything similar or totally different?

      1Reply
    • Jay HinrichsBusiness Member
      Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
      10mo
      Quote from @Chase Calhoun:
      Quote from @Jay Hinrichs:

      what has caused the in balance  IE more inventory than renters ???  My self as a one who has been self employed my entire life speed is essential. From answering the friggin phone live and not hiding behind text messaging etc etc.  

      Totally agree with you on your thought process if yall are fighting for tenants.


      Jay, great question. I’m not 100% sure either, but when I looked today in our local market it appears there are roughly 2–3x more available units showing on Zillow than what we’re used to seeing a few years ago. A few things I think are contributing to the imbalance:

      1. A lot of new supply hit the market recently.
      We’ve had a decent amount of new apartment construction come online over the last few years. Those units are finally getting delivered and hitting the leasing market all at once.

      2. STR → LTR conversions are happening.
      I personally had six small short-term rentals that we pulled off Airbnb this year and converted back into long-term rentals. I wouldn’t be surprised if others are doing the same as STR revenue softens.

      3. Tornado recovery brought a ton of units back.
      We had a tornado wipe out a big chunk of housing supply about two years ago. A good portion of that inventory has now been rebuilt and returned to service, which definitely adds to supply.

      4. Tenants are getting financially squeezed.
      With costs up across the board, I’d guess more people are doubling up, living with family, or staying put longer rather than forming new households. That reduces demand even with population growth.

      5. Strong job market, but maybe slower migration.
      Our area still has a solid job market and people are moving in, but it feels like the pace may have cooled off a bit compared to the last few years.

      That’s just my on-the-ground read as an owner/operator doing quite a bit of leasing right now.

      How’s the rental market in your area? Are you seeing anything similar or totally different?


      I only have commerical rentals at this point. all NN or NNN  with doctors architects etc so not an issue for me personally .. the folks I fund for rentals seem to be doing OK in some markets thought they concentrate on section 8
      Podcast Guest on Show #222
      JLH Capital Partners51 Review
      WebsiteView Page
      0Reply
  • Denise SuppleeBusiness Member
    Realtor · Willow Grove, PA · Member since 2017 · 962 posts · 636 votes
    10mo

    I’m mostly a passive investor now, but I’ve heard a lot of active landlords saying the same thing. It’s happening because, like you said, supply has surged faster than demand, and tenants suddenly have way more choices. In a market like that, speed and follow-up matter a lot more than they used to.

    Spark Rental Co-Investing Club576 Reviews
    WebsiteView Page
    0Reply
  • Stuart UdisPro Member
    Attorney · Philadelphia · Member since 2018 · 2k+ posts · 3k+ votes
    10mo

    Fishtown, Northern Liberties & Kensington are neighborhoods just northeast of Center City Philadelphia that saw a development boom fueled by permissive zoning and cheap debt a few years ago which created a huge wave of new multifamily inventory. That inventory is being absorbed slowly, but from the sidelines it’s been tough to watch owners struggle through slow lease-ups Sounds similar to what you're currently facing.  Many of the landlords have resorted to heavy concessions, yet even that hasn’t solved the problem—tenants simply pack up at the end of their lease and move across the street to the next building offering a better deal.

    There’s no indication this will be a long-term problem with new starts at their lowest level in years, the imbalance should correct itself. I suspect many cities across the country are seeing similar conditions where the perfect storm of favorable zoning and cheap financing led to more units than the market could absorb.

    [email protected]
    4Reply
    • Jay HinrichsBusiness Member
      Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
      10mo
      Quote from @Stuart Udis:

      Fishtown, Northern Liberties & Kensington are neighborhoods just northeast of Center City Philadelphia that saw a development boom fueled by permissive zoning and cheap debt a few years ago which created a huge wave of new multifamily inventory. That inventory is being absorbed slowly, but from the sidelines it’s been tough to watch owners struggle through slow lease-ups Sounds similar to what you're currently facing.  Many of the landlords have resorted to heavy concessions, yet even that hasn’t solved the problem—tenants simply pack up at the end of their lease and move across the street to the next building offering a better deal.

      There’s no indication this will be a long-term problem with new starts at their lowest level in years, the imbalance should correct itself. I suspect many cities across the country are seeing similar conditions where the perfect storm of favorable zoning and cheap financing led to more units than the market could absorb.


      I think if we really dove into this you will see this same thing has caused or partially caused so many of the apartment syndicators like ODC to suffer with their deals in Texas.. The syndicator I worked for in the 80s he thought the grass was greener and went to Dallas bought used complex's and sure enough ( especially back then) new ones popped up, nicer units same price or a little lower and his tenants just moved across teh street leaving him with vacancies and out of compliance with the lender who then chose to foreclose as they did not have the cash to pay them off or lower the debt substantially. 
      Podcast Guest on Show #222
      JLH Capital Partners51 Review
      WebsiteView Page
      1Reply
    • Kevin MoyerBusiness Member
      Property Manager · Philadelphia, PA · Member since 2019 · 269 posts · 301 votes
      10mo
      Quote from @Stuart Udis:

      Fishtown, Northern Liberties & Kensington are neighborhoods just northeast of Center City Philadelphia that saw a development boom fueled by permissive zoning and cheap debt a few years ago which created a huge wave of new multifamily inventory. That inventory is being absorbed slowly, but from the sidelines it’s been tough to watch owners struggle through slow lease-ups Sounds similar to what you're currently facing.  Many of the landlords have resorted to heavy concessions, yet even that hasn’t solved the problem—tenants simply pack up at the end of their lease and move across the street to the next building offering a better deal.

      There’s no indication this will be a long-term problem with new starts at their lowest level in years, the imbalance should correct itself. I suspect many cities across the country are seeing similar conditions where the perfect storm of favorable zoning and cheap financing led to more units than the market could absorb.

       @Stuart Udis is the top Philly poster on this site in the last few years. Do yourself a favor and read his post history if you're considering investing or developing in Philly. Almost everything he says matches my experience managing 700+ units in Philly. 

      However I do disagree with the statement "There's no indication this will be a long-term problem". Although new starts have slowed down- there is still a backlog of lease-up vacancy and new conversions coming online. I don't see the Philly market reaching a new equilibrium (where rents can increase to keep up with costs along with a drop in DOM) for at least the next 2 years. Three main reasons;

      1) Existing oversupply of multi-family
      2) No signs of demand increase (net migration into Philly)
      3) Local government continuing to squeeze property owners

      I really hope I'm wrong. Leasing and managing were much easier in 2021-2022 compared to the last few years.

      Otter Property Management4.8623 Reviews
      WebsiteView Page
      1Reply
  • Adam BartomeoBusiness Member
    Real Estate Broker · Cape Coral, FL · Member since 2015 · 2k+ posts · 1k+ votes
    10mo

    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.

    [email protected]239-339-3969
    Bartomeo Property Management4.7150 Reviews
    WebsiteView Page
    6Reply
    • Mike Kirby
      Rental Property Investor · New Braunfels, TX · Member since 2021 · 288 posts · 255 votes
      10mo
      Quote from @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.

      We hadn't had a vacancy more than a week or two from 2016 to 2025. Then we had a tenant move at the end of July when we finished a remodel that also needed to get rented in August (bad time of the year to fill a vacancy here). We had to lower rates and offer a free month's rent on both to get them filled. You are absolutely correct, it's way better to be rented at a lower price than being empty. 
      1Reply
  • Harvey LevinPro Member
    Property Manager · Indianapolis, IN · Member since 2012 · 205 posts · 157 votes
    10mo

    Leasing has definitely slowed down. However, in my 45 years as a landlord i have seen much worse. Typically the answer to slow leasing is price followed by condition. Not a great answer for those who leveraged at height of the market  but one lesson i learned was not to sell in desperation.  Markets eventually come back stronger and higher and more importantly more profitable than before.  

    0Reply
  • Stuart UdisPro Member
    Attorney · Philadelphia · Member since 2018 · 2k+ posts · 3k+ votes
    10mo

    Yep, in the neighborhoods I mentioned some of the new builds are leasing up exclusively to section 8 tenants. I am fairly certain that was not the plan when they developers set out to start the projects. You're also seeing building owners ease their tenant screening for the sake of getting units occupied which is risky but balanced against technical defaults for not meeting occupancy levels I can understand why building owners elect to go that route. 

    It's created an interesting dynamic where the tenants who naturally may have filled the lower graded units are being given the opportunity to fill better quality housing options. As long as it's a market where the imbalance resolves itself the tenants should return to the units that best match their financial profile but it could be a persistent issue in markets where oversupply can't resolve itself. This will leave the lower grade units fighting an uphill battle and possibly even make them obsolete.

    [email protected]
    1Reply
  • Amelia Garcia
    Specialist · Member since 2025 · 12 posts · 3 votes
    10mo

    Chase, this is a really insightful breakdown. I’m seeing similar patterns in a few markets I follow — tons of interest but very hesitant applicants, and way more shopping around than before.

    The shift toward treating leasing like a true sales funnel makes a lot of sense in today’s environment. Speed, clarity, and consistent follow-up seem to make a huge difference now compared to the past few years.

    Curious to hear what others are doing to adjust. Especially in markets where inventory has stacked up fast

    0Reply
  • Stuart UdisPro Member
    Attorney · Philadelphia · Member since 2018 · 2k+ posts · 3k+ votes
    10mo

    @Kevin Moyer I agree with your timeframes. I'm expecting longer than 2 years to re-balance the neighborhoods inventory. By long term problem I meant these neighborhoods will not be able to rebalance themselves. I don't see that being the case. There are markets where developers built product relying on the mentality "build and they will come" with no coherent thesis behind why and those are markets where there will truly be long term pain. 

    Within Philly, there's also certain neighborhoods that are struggling more with the imbalance, most notably the neighborhoods that I mentioned in my earlier posts. They also had the most permissive zoning. Neighborhoods with less permissive zoning aren't struggling with the same occupancy issues.  Most of my real estate is in Mount Airy which is the polar opposite.  Most zoning is low density residential and If you want to build something the community expects community garden donation and your first born. Expect a few more years of difficult PM leasing in these neighborhoods but that should correct itself. Just don't expect the same relief from the city agencies as you alluded to in your post unless unexpected reform which I don't see occurring anytime soon.

    [email protected]
    3Reply
    • Alan AsriantsBusiness Member
      Real Estate Agent · Philadelphia, PA · Member since 2019 · 1k+ posts · 1k+ votes
      10mo
      Quote from @Stuart Udis:

      @Kevin Moyer I agree with your timeframes. I'm expecting longer than 2 years to re-balance the neighborhoods inventory. By long term problem I meant these neighborhoods will not be able to rebalance themselves. I don't see that being the case. There are markets where developers built product relying on the mentality "build and they will come" with no coherent thesis behind why and those are markets where there will truly be long term pain. 

      Within Philly, there's also certain neighborhoods that are struggling more with the imbalance, most notably the neighborhoods that I mentioned in my earlier posts. They also had the most permissive zoning. Neighborhoods with less permissive zoning aren't struggling with the same occupancy issues.  Most of my real estate is in Mount Airy which is the polar opposite.  Most zoning is low density residential and If you want to build something the community expects community garden donation and your first born. Expect a few more years of difficult PM leasing in these neighborhoods but that should correct itself. Just don't expect the same relief from the city agencies as you alluded to in your post unless unexpected reform which I don't see occurring anytime soon.


       Philadelphia market dynamics are certainly interesting. And you're absolutely right areas that are lower density especially the outskirts of Philadelphia like Northeast Philly and like you mentioned Mount airy have better positions for landlords as there's not as much competition for similar units. However, in areas like Northern liberties, old Kensington Fishtown there was an extreme amount of development flooding in the market with a lot of inventory. I agree that it will take min 2 years to stabilize there. My one worry is how it will ship the neighborhood because a lot of those large scale buildings are forcing section 8. 

      The suburbs are even less dense, creating even more competition among tenants to find decent rentals. Personally, I am positioning myself more towards the suburbs, as I am finding better tenant class at higher rates. 

      All that being said, overall, the market in general, even in the outskirts of Philadelphia, or the suburbs, as I mentioned above, are still not performing as strongly as they did earlier this year. Part of that also has to do with the current season, which is not the best time historically to list the property for rent or sale. I anticipate it picking back up in March.

      [email protected]267-767-0111
      Alan Asriants - New Century Real Estate 590 Reviews
      View Page
      0Reply
  • James Hamling
    Real Estate Broker · Minneapolis, MN · Member since 2011 · 5k+ posts · 6k+ votes
    10mo

    Welcome to the Python Economy @Chase Calhoun. 

    Can you blame tenants for shopping around so ferociously, in futile attempt's to find some years gone by rent? 

    Ironically,  they seem to still fill the lines at Starbucks, pony up for the take-out, they seem ready to eat inflated costs every except in their housing. 

    I think that little ditty speaks to a tactic long neglected that you touched on, nobody seems to treat tenants like a customer. The knee jerk to slow and low volumes is just price, that's it price and price alone. Well, how's your marketing? Are you reaching the customer base where it resides in the marketing sphere? Are you making it easy to "buy"? Are you on message with them? Do you even have a clue who your customer base is beside a knuckle-dragger response of "someone who needs a place"? 

    A side item you didn't touch on Chase is the coming extinction level event for Property Management Companies. ai is coming to eat their lunch. And they laid it out on a silver platter with the neglect to be of service. 

    0Reply
  • Drew SygitBusiness Member
    Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
    10mo

    Great topic!

    Rental application fraud is spiking, so moving faster isn't the perfect answer - the faster you move, the more likely mistakes => nonperforming tenants!

    Totally agree that most of us need to up our game to treat majority of tenants better.

    Reminds me of 2004-2008, when every tenant that could fog a mirror, could get some type of low credit score mortgage. We were left really scraping the bottom of the barrel for tenants:(

    [email protected]248-209-6824
    Logical Property Management4.9450 Reviews
    WebsiteView Page
    0Reply
  • Sheryl Sitman
    Rental Property Investor · Philadelphia, PA · Member since 2015 · 476 posts · 360 votes
    9mo

    If we don't figure out how to get people to start having children again, we are facing a huge problem. 

    U.S. fertility rate is around 1.6, far below the replacement rate of 2.1.

    This means every generation is 30–40% smaller than the one before, unless immigration fills the gap. And we all know what is happening on that front this year.    

    Location is key and I have always maintained diversity in my portfolio to reduce whatever risk may come. 

    0Reply
    • Chase Calhoun
      OP
      Property Manager · Little Rock, AR · Member since 2018 · 58 posts · 47 votes
      9mo
      Quote from @Sheryl Sitman:

      If we don't figure out how to get people to start having children again, we are facing a huge problem. 

      U.S. fertility rate is around 1.6, far below the replacement rate of 2.1.

      This means every generation is 30–40% smaller than the one before, unless immigration fills the gap. And we all know what is happening on that front this year.    

      Location is key and I have always maintained diversity in my portfolio to reduce whatever risk may come. 


      Great points. I’ve thought a lot about the declining birth rate as well, and it’s a real concern for long-term economic stability. While immigration has slowed under the current political climate, I’m confident it will pick back up over time.

      Either way, population growth or decline is something we all need to stay mindful of. It affects everything from housing demand to labor supply, which is why maintaining diversification across markets and asset types is so important.

      0Reply
  • Janice Carter
    Real Estate Broker · Atlanta · Member since 2024 · 1k+ posts · 604 votes
    9mo

    Yes, we are seeing the same trend here in Metro Atlanta. The market has clearly shifted and it is very much a renter’s market right now. Inventory has increased partly because some homeowners who can’t sell at their desired price are opting to rent instead and partly due to the surge in new multi-family communities. Renters have also become more selective because they can be, we have a smaller pool of qualified renters and we are in the post-peak season slowdown.

    Landlords and property managers who want to avoid extended vacancies are focusing heavily on speed, responsiveness and getting qualified tenants approved quickly. Those who are avoiding calls and taking days to respond to inquiries may not be in business for very long.

    0Reply
  • Alyssa MarquezBusiness Member
    Real Estate Agent · San Antonio TX / Fort Lauderdale, FL · Member since 2023 · 113 posts · 25 votes
    1mo

    I think I'd go for B. The screening process criteria, I think, I'd leave the same. Especially in a slowing down leasing market, it really can make the difference for responsiveness.

    If you're a good applicant, you've got choices, if there are any unnecessary delays, you could cost us that tenant.

    I think I would really look at being rapid in response, efficient in scheduling, speeding up application times, clear on our communication, but the qualifying criteria I would set the same for everybody. Speed does not equal not quality it has been sped up as long as I can establish that there is a qualified tenant.

    0Reply
    • Jay HinrichsBusiness Member
      Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
      1mo
      Quote from @Alyssa Marquez:

      I think I'd go for B. The screening process criteria, I think, I'd leave the same. Especially in a slowing down leasing market, it really can make the difference for responsiveness.

      If you're a good applicant, you've got choices, if there are any unnecessary delays, you could cost us that tenant.

      I think I would really look at being rapid in response, efficient in scheduling, speeding up application times, clear on our communication, but the qualifying criteria I would set the same for everybody. Speed does not equal not quality it has been sped up as long as I can establish that there is a qualified tenant.


      one of my Indy clients who has a pretty big PM..  he had placement agents about 6 of them and they would have a weekly meeting to go over what available.. then each of the 6 would go place their own sign in the yard. and of course the ones who picked up live usually got the placement fee.. those that did not answer or hid behind text were left in the dust.. it was a pretty genius way to do it I thought
      Podcast Guest on Show #222
      JLH Capital Partners51 Review
      WebsiteView Page
      0Reply
  • Eric James
    Investor · Malakoff, TX · Member since 2017 · 2k+ posts · 2k+ votes
    1mo

    This has happened in a lot of markets over the last few years. Construction started when interest rates were low and came in line recently. Just need to get through this, as not a lot of construction started after 2022.

    0Reply
  • Adam BartomeoBusiness Member
    Real Estate Broker · Cape Coral, FL · Member since 2015 · 2k+ posts · 1k+ votes
    3w

    Here in SWFL I have been warning our owners for 3 years that this storm was coming. I have even posted market updates to BP letting everyone know that this was coming. This should not be a surprise to anyone throughout the country. 

    "And some PM companies are still taking 48–72 hours to approve someone." How do you approve a tenant in 48 hrs without skipping vital steps? With so many scammers out there and dead-beat tenants you are playing with fire by skipping steps and operating from a desperate mindset.

    [email protected]239-339-3969
    Bartomeo Property Management4.7150 Reviews
    WebsiteView Page
    1Reply
  • James Hamling
    Real Estate Broker · Minneapolis, MN · Member since 2011 · 5k+ posts · 6k+ votes
    3w
    Quote from @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.

    C) Throw the jurassic prevailing model on the rubbish heap of history where it belongs and implement an intelligent, active, engaging and assistive flow to systematically move through the masses to produce quality placed tenant outputs.

    Look, you already touched on it, a Lead Funnel for Prospective Tenants.

    How pathetically sad is it a statement that doing this, a Lead Funnel for Prospective Tenants is "revolutionary".

    It should be a "Duh" moment.

    The answer is in sound business and marketing principles.

    Step 1 is getting mass exposure, next steps are about filtration that keeps target market engaged while weeding out the "noise".

    Signal and Noise.

    Next is about reducing Friction for the target.

    Is being faster the 1-trick pony, no.

    Is chitty-chit-chatting on a phone 24-7 the magic hack, no.

    There is no magic-bullet, no "do this 1 thing" because the answer is a SYSTEM.

    One that has measurement and weights so it can be constantly scrutinized and refined, each and every step in the system.

    It's a level of methodical professionalism most are not going to like to hear, because it's not simple, quick or easy.

    Welcome to a place I like to call reality.

    This is the "Secret Sauce" in how my team and I have crushed the market averages and competition in our operational area. How we get better results, better tenants, better clients, better retention.

    Because we are quality obsessed with being at our best, and redefining that over and over and over again.

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free