That extra $100/month your client wants to try for could cost them $650 in lost rental income, plus the headache of an extended vacancy.
Summer Leasing Reality: Key Insights from Q2 2025 Data
From pricing strategies to marketing channels, our Q2 report uncovers the patterns driving leasing success.
Aug 12, 2025
RentEngine's latest Q2 2025 Leasing Data & Trends Report breaks the new patterns in summer leasing this year.
We compiled this comprehensive analysis from anonymized leasing data of RentEngine users between April 1 and June 30, 2025—representing scattered-site property managers with portfolios ranging from 100 to 5,000 doors across the country.
Price Reduction Reality Check
The Q2 report delivered an important message about pricing strategy: each price reduction costs property owners an average of 10 days of rental income, approximately $650-660 in lost revenue for a typical $1,900/month property.
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Marketing Channels Are Shifting
While Zillow still dominates the rental landscape, we're seeing the first signs of change in lead source distribution:
Zillow applications dropped from 60% to 57% of submitted applications
Property manager websites surged from 11% to 18%—a 64% increase
All major portals (Apartments.com, Rent.com, Realtor.com) saw slight declines
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Property managers who invest in owned distribution channels are starting to see real returns.
Importance of cross-selling
Perhaps the most underutilized opportunity in our data: 20% of leads consider multiple properties with the same property manager, averaging interest in 2.54 properties.
Communication patterns
Analyzing communication behavior of prospects who ultimately submitted applications revealed some surprising patterns:
Before showings: Successful applicants send just 1.3 texts and rarely call
After showings: Communication volume more than doubles (3.4 texts, 0.9 calls)
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Let your systems handle top-of-funnel conversion. Focus your team's energy on post-showing follow-up where it drives real results.
Want the complete Q2 2025 Leasing Data & Trends Report with detailed benchmarks, additional insights, and actionable recommendations? Download the full report here.
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