Looking for the best results in leasing? REDA can help! Check out this highly efficient salesforce for property management software that can perform t
Lead to lease conversions can be back-breaking for Property Managers. Lead conversions mainly depend on a property business's lead management strategy. In fact, studies show that 79% of the leads never convert, and the reason behind conversion failure is an ineffective strategy. This insight will walk you through several successful ways to increase lead-to-lease conversions and fill your vacant properties faster. Also, we will put across how real estate leasing software can smooth the leasing process.
What is Lead to Lease Conversion?
Lead to lease conversion is an important KPI for property managers. It is the time taken to convert a rental lead into submitting a signed lease. These conversions have to be accurate and quick. Once your tenant gives you a hint of his leaving plans, you must gear up and start your search for the next one. For this, you must automate your leasing operations as it will reduce time spent converting any lead into a long-term tenant, thus steadying your rental vacancy rate.
Automation using Lease Management Software can help you save 70% of your time, which is usually spent on mundane tasks. REDA’s Leasing solution can help property managers efficiently manage different jobs, from responding to leads within seconds to pre-qualifying them, scheduling the property tours to keep property owners updated throughout the process, and much more.
What Are The Reasons for Low Lead To Lease Conversion?
It happens many times when you get the leads, but none of them convert. This is the situation of many property managers struggling with low lead-to-lease conversions. There are several reasons for low conversion rates, such as:
Discover how workflow automation helps property managers streamline different tasks and increase sales. Read this blog.
5 Tips To Increase Lead to Lease Conversion
If there are vacant properties, or if some of the leases will end soon, property managers must remain active and keep working to fill them as soon as possible. It is essential because your occupied properties will barely recover profits, and on top of that, vacant properties increase expenses. This can create a huge mess. To do your job efficiently, below are some expert tips by REDA creators that might help you convert your leads into leases faster, reducing your rental vacancy rates.
For best results!
Really looking for the best results in leasing, REDA can help you. It is a highly efficient Salesforce For Property Management Software that can filter quality leads, perform tenant screening and provide other benefits that can help you fill your property for a long time.