More Than 75% of Leasing Teams Are Missing Qualified Leads, Rent. Study Finds

Rent. Group’s New Lead-to-Tour Nurturing Solution Proving Paramount to Greater Leasing Success

ATLANTA--(BUSINESS WIRE)--Busy marketing and leasing teams juggling multiple tasks leave too many leads on the table, according to a recent study by Rent., a leading marketing platform for the multifamily rental industry. As multifamily communities face greater competition for prospects, Rent. discovered that half of teams are still nurturing leads manually. Respondents also said they desire more automation and more qualified prospects as they seek to achieve their leasing goals.

The survey among leasing professionals found that more than 75% of leasing teams report missing leads, losing the opportunity to connect with potential renters who could fill vacancies faster and boost profits. This approach costs owners, operators and onsite teams time, potential renters and most importantly — money.

“Even though they are able to respond to most leads within a few hours, onsite teams miss nearly 20% of leads by tending to the needs of residents and working with other prospects. Some follow-ups can take one or two days, which won’t work in a time when competition is increasing and digitally savvy renters are searching and inquiring at all hours, regardless of when leasing offices are open,” Nishant Phadnis, chief product officer for Rent., said. “More than anyone, Rent. understands that the multifamily industry requires a solution that allows their property managers to serve prospects 24/7, nurturing every lead. Leasing teams can’t be available all the time and we can effectively leverage automation to fill in the gaps and capture those valuable lost leads.”

Rent. addresses the critical challenge of nurturing leads with the introduction of RentEngage. Lead Nurture, a fully automated solution. This new technology streamlines the renter journey, encompassing initial inquiries, tour scheduling, and even re-engagement efforts for lapsed prospects. RentEngage. Lead Nurture operates continuously, ensuring that all leads are captured and nurtured, regardless of staffing fluctuations or office hours.

This new and innovative system pairs with the RentMarketplace. product which provides automated setup and maintenance by leveraging data and content from Rent. internet listing service (ILS). It features a built-in Tour Scheduler, post-tour follow-up and SMS capabilities.

“Lead Nurture offers communities improved lead qualification through personalized communication and real-time data that helps identify promising leads. With so much at stake for multifamily communities in this competitive market, having the most qualified leads is necessary for an optimal leasing process,” Damon Joshua, Rent. President, explained. “This added functionality to our RentMarketplace. offering takes the guesswork out of when to follow-up by delivering automated messages that capture attention and drive engagement.”

Lead Nurture is now available exclusively for all current and new RentMarketplace. packages for a monthly fee of $99. This exciting new feature will be showcased at the Rent. booth 625 during the NAA Apartmentalize conference, taking place in Philadelphia, June 19-21, 2024, where clients and prospects can activate Lead Nurture in real-time and explore its features.

RentEngage. Lead Nurture solution is the latest development from Rent. that specifically supports modern multifamily marketing teams. It is part of a comprehensive roster of multifamily marketing tools, including RentMarketplace. Tour Calendar, Google Aerial View, Places Nearby, Walk Score^®, Transit Score^® and Profile Sync with Google Business Profile. Rent Group is the first and only rental marketplace network to provide access to one of the country's largest real estate sites; Redfin.com.

About Rent.

Rent. is a two-sided marketing platform that simplifies the entire renter experience by matching the right property with the right renter, at the right time. Rent. services the property side of the market with scaled marketing solutions such as search engine marketing, lead nurturing through chatbots and client automation tools, and reputation management through ratings and reviews as well as social media monitoring and marketing. This, paired with advanced search filtering and an optimized consumer app and site experience, enables Rent. to offer renters an ideal home-finding experience. Rent. exists to help people find the perfect place. Rent. is operated by Rent Group Inc., a subsidiary of Redfin Corporation.

This survey was conducted in February of 2024 by Rent Group and was completed by 207 qualified multifamily professionals employed in the multifamily sector responsible for generating/managing leads.