How to fill vacancies faster and maximize NOI this leasing season

How to fill vacancies faster and maximize NOI this leasing season

Every property manager knows that leasing season isn’t just a time of opportunity—it’s a race. From May through September (with July and August peaking), leasing teams face a high-stakes sprint to convert leads, reduce turnover, and maximize occupancy.

Done right, leasing season can make or break your annual performance. But without preparation and process optimization, it can leave your team burned out and your NOI lagging behind.

Here’s a complete, landlord-oriented playbook for preparing your team, listings, systems, and budget to win leasing season—and how tools like Cosign can help you convert more applications and reduce friction during this critical time.

1. Start early: Prep teams before peak demand hits

Most operators wait too long to ramp up for leasing season. But the best-performing portfolios we’ve seen invest in early training and team planning—usually starting in Q1.

• Cross-train your leasing staff so agents can shift between properties as needed.
  
  
• Onboard new hires well in advance to avoid learning curves during peak traffic.
  
  
• Invest in training, especially in closing, virtual communication, and tech stack fluency.
  
  
• Extend leasing hours or implement weekend coverage to respond to surging demand.

If you're relying on under-resourced teams in July, it’s already too late. Getting ahead of staffing challenges can make or break performance when leads start flooding in.

2. Maximize curb appeal and perceived value

According to the latest NMHC/Grace Hill Renter Preferences Report, 51% of renters said overall property appearance was “very important” to their leasing decision. That number climbs in competitive, urban markets.

Before leasing season kicks in, perform a full asset walkthrough from a prospect’s POV:

• Repaint worn common areas
  
  
• Refresh landscaping
  
  
• Power wash entryways and signage
  
  
• Deep clean model units
  
  

Also consider investing in amenities that enhance perceived value and speed lease decisions. Outdoor seating, self-service package lockers, or property-wide recycling programs are often more affordable than large CapEx upgrades—but may matter more to today’s renters.

3. Upgrade your listings with quality and convenience

In today’s market, renters browse dozens of listings before they ever reach out. The best listings don't just showcase the property—they answer questions before they're asked.

Include:

• Clear, high-resolution photos (consider a professional photographer)
  
  
• Video walkthroughs or 3D tours
  
  
• Specific square footage, amenity, and location details
  
  
• Transparent pricing, pet policies, and fees
  
  

Publish listings across both your website and major third-party platforms. 83% of renters visit a property manager’s website, and 73% check listing aggregators, according to the same NMHC report.

4. Enable virtual tours and self-guided showings

Today’s renter expects flexibility. Offering virtual showings or self-guided tours can dramatically reduce drop-off, especially for renters relocating from out of town.

Set up secure lockboxes or smart locks that grant one-time access codes to vetted leads. Combine that with a mobile-accessible video tour, and you’ll convert more prospects—without burning out your team.

5.  Streamline online applications and approvals

Still relying on paper applications or manual approval workflows? You’re bleeding efficiency.

Online leasing tools not only reduce processing times—they also improve the renter experience and data accuracy.

Pro tip: Use Cosign to help convert applicants who fail traditional screening. Instead of a flat denial, offer them Cosign’s rent guarantee coverage. It’s zero cost to you, provides 3x–12x rent protection, and unlocks approvals you would’ve otherwise lost.

6. Tighten and modernize tenant screening

Fair housing compliance aside, most screening workflows are outdated or overly rigid. Before peak season:

• Revisit your credit, income, and rental history requirements
  
  
• Eliminate any criteria that could result in legal exposure
  
  
• Use technology to automate identity, income, and fraud detection
  
  

And most importantly: plan for what happens when someone almost qualifies. Cosign lets you approve renters who don’t meet your income or credit criteria by shifting risk off your balance sheet.

7. Review and refresh your leasing documents

Too many operators forget to update leasing language before the rush. Don’t wait for a legal issue to review:

• Fair Housing Law updates
  
  
• Local/state rent control or disclosure rules
  
  
• Addenda covering amenities, fees, or access changes
  
  

If you operate across jurisdictions, create a checklist to track regulatory changes before the season hits.

8. Price units to balance demand and retention

Dynamic pricing isn’t just for hotels anymore. Regularly compare your rents to competitive properties—especially updated ones—and adjust as demand ebbs and flows.

Leasing season is a good time to test:

• Tiered pricing based on amenities or floor level
  
  
• Discounts for longer lease terms
  
  
• Rent protection options like Cosign to reduce concessions and expand approvals
  
  

When setting renewal prices, remember: the average turnover costs $3,900 per unit, according to Multifamily Insiders. Sometimes the best ROI is retention.

9. Track marketing ROI and reallocate fast

Where are your leads really coming from? Which sources convert to signed leases?

Before the season starts, establish baseline KPIs:

• Lead source conversion rates
  
  
• Time to lease
  
  
• Cost per signed lease
  
  

Then double down on what’s working. Cut what isn’t. And test new channels (like targeted social ads or influencer partnerships) with low risk and short feedback loops.

10. Speed up response times with automation

During peak leasing season, you might only get one shot to impress a lead. If you take more than 24 hours to reply, they’re likely moving on.

Use:

• Chatbots to answer FAQs immediately
  
  
• Automated lead scoring to prioritize responses
  
  
• Templated follow-ups for no-shows or cold leads
  
  

Free up your leasing team to focus on high-intent prospects by letting automation handle the rest.

Bonus: Reduce application fallout with Cosign

Leasing teams know the pain of doing all the work—only for a strong prospect to get denied by screening software. Cosign flips that script.

With Cosign, you can:

• Approve more applicants by offering rent guarantee coverage
  
  
• Eliminate fair housing risks tied to exceptions or case-by-case judgments
  
  
• Improve your site team’s morale by saying “yes” more often
  
  

And it’s 100% free for landlords. Learn more at rentwithcosign.com.

In conclusion

Winning leasing season is about more than high occupancy. It’s about team preparedness, smarter tools, and streamlined workflows that improve renter experience and bottom-line performance.

By starting early, automating wisely, and using tools like Cosign to expand approvals, you can make this your highest-performing season yet—and set the tone for long-term NOI growth.

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