Prospect Leads Change With the Seasons
Digested From “Apartment Guide National Data Study of Prospect Leads Reveals Key Regional Variance in Peak Student Housing Leasing Seasons”
Digital Journal (03/04/14)
Apartment Guide recently presented its preliminary findings from a national data study of apartment prospect leads in the student housing industry. According to the study of prospect leads generated in 2013 for 208 student housing communities across the U.S., peak leasing seasons in individual markets can start as early as April and continue into September or November. This finding challenges the conventional wisdom that June to August are the primary leasing months in the industry. Apartment Guide Strategic Accounts Sales Executive Hannah Crosby remarks, "Student housing regional managers and marketing directors have anecdotally sensed that peak leasing seasons might be different from market to market, but until now it’s been difficult to pinpoint on a regional, month-to-month basis when peak leasing activity occurs. With this more detailed information, student housing community managers and marketing and leasing staffs can now make better decisions regarding marketing, advertising and prospect engagement." In Auburn, Ala., for instance, leads start to peak in April and are declining by August. In Virginia Beach, by contrast, the market holds steady to the traditional July/August peak lease-up season. Bloomington, Ind., bucks the trend with a couple of peak leasing seasons: the first from March to May and the second between September and November.
In other findings, the proportion of leads from mobile devices continues to grow unabated. In fact, some student housing markets are close to seeing over 50 percent of all prospect leads generated from mobile devices. Arlene Mayfield, senior vice president of RentPath and president of Apartment Rentals and Homes Divisions, states, "Currently, more than 40 percent of all Apartment Guide leads are generated through our mobile platforms, and mobile is projected to be the single largest source of Internet usage in 2014. As a result, we're resolved in our strategic and advanced efforts to meet this increased exposure potential for our clients in student housing and in the broader multifamily apartment markets by improving overall mobile functionality and value to our users to maximize results on the increased mobile lead traffic."
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