The arrival of fall typically signals a slowdown in leasing activity, with fewer renters actively searching for apartments.
However, instead of seeing this period as a challenge, savvy marketers can take advantage of the fall to optimize their strategies, prioritize resident retention, and set the stage for success in the winter and spring. With the right mental preparation and actionable strategies, you can ensure that your efforts during these months pay dividends in the months ahead.
Mental Preparation: Understanding the Downturn
#1. Know the Numbers
As you prepare for the fall slump, understanding market trends can provide essential context.
Leasing activity drops predictably in Q3 and Q4, primarily due to seasonal factors like colder weather and fewer people moving during the holidays. While this downturn is common, it’s important to recognize that this doesn’t indicate a failure in your marketing efforts. In fact, this slowdown is an opportunity to refocus your strategy on other critical aspects of property management and marketing.
This means that the marketing efforts you invest in now — through the fall and early winter — will set the stage for leases signed in Q1 of 2025. Knowing that your fall campaigns are laying the groundwork for future success can help maintain motivation and perspective during the slower months.
#2. Know the Timing
It’s essential to remember that fall leasing results are tied to the marketing efforts conducted from July through September. While this period as already passed for 2024, it’s crucial to keep this in mind for next year.
This period is when campaigns should be launched to ensure your property remains visible and competitive as leasing activity slows. Planning during the summer helps create momentum that carries you through the predictable fall slump, allowing you to capitalize on high-intent prospects while building a foundation for success in the first quarter of the next year. By proactively preparing next summer, you’ll set yourself up to minimize the impact of slower leasing months.
#3. Maintain a Positive Mindset
The key to navigating the fall leasing slump is to approach it with the right mindset. Recognize that this seasonal downturn is predictable and not a result of ineffective marketing. Instead of focusing on the reduced volume of leases, focus on the opportunities that arise during this time, such as optimizing resident retention strategies and preparing for a stronger leasing season in the future. By using the fall as a time for refinement and renewal, you can ensure that your property remains competitive year-round.
Prioritize Current Residents: Focus on Retention
#1. Leverage Higher Renewal Rates
Unlike new leases, renewal rates actually tend to increase during the fall months.
This makes fall the perfect time to prioritize resident retention strategies. Engaging current residents with proactive renewal offers, early incentives, and personal outreach can help secure leases for the upcoming year.
#2. Early Renewal Incentives
Offering early renewal incentives such as rent freezes, discounted upgrades, or even free perks can encourage residents to renew before their leases expire. Start conversations about renewing at least 90 days in advance to give tenants time to consider the benefits of staying through the winter, such as avoiding the hassle of moving in colder weather or during the holiday season.
#3. Resident Engagement Through Support and Events
Resident satisfaction plays a critical role in renewals.
To foster this engagement, consider organizing fall-themed community events, such as pumpkin carving contests, neighborhood potlucks, or even a Thanksgiving pie bake-off. These events not only increase resident satisfaction but also serve as excellent content for social media, showcasing your property’s vibrant community and helping to attract future residents. To take the power of social media for apartments one step further, check out our blog on How to Utilize Social Media for Apartments to Generate Word-of-Mouth Referrals.
Hosting these events can also have a measurable impact on retention.
Events that align with the season, like fall foliage tours or autumnal craft workshops, can help build a stronger sense of community and engagement.
Boost New Apartment Leads with Strategic Marketing
#1. Run Targeted Google Ads
While the number of searches for “apartments for rent” may dip slightly during the fall, it remains a high-intent query(Google Trends). This makes the fall an important time to continue running targeted ads, focusing on those who are actively searching for immediate availability.
Budgeting for fall campaigns is cost-effective, as advertising costs drop by 10-15% during this period due to decreased competition (WordStream).
Targeting specific demographics like students or empty nesters, who are more likely to move in the fall, can help maximize the return on your advertising spend.
#2. Leverage Geofencing Technology
Geofencing technology can further enhance your ability to engage with potential renters. By targeting individuals who visit competitor properties or nearby points of interest, you can capture high-intent prospects who may not have begun actively searching for new housing.
One company that has generated success with geofencing technology is ApartmentsGEOFencing.com. This platform specializes in targeting potential renters by using location-based marketing to pinpoint individuals who frequent specific locations such as competitors’ properties, shopping centers, and local points of interest. ApartmentsGEOFencing.com acts like a digital billboard for your property, delivering ads to users within these geofenced areas and guiding them to your property through mobile interactions. This highly-targeted advertising approach can increase both foot traffic and digital engagement significantly.
For example, Bozzuto properties reported a significant increase in both physical and digital engagement by using geofencing campaigns that targeted potential renters visiting nearby locations (Apartments GEO Case Study).
For more creative strategies to elevate your apartment marketing efforts this season, check out our blog on 17 Effective and Unexpected Multifamily Marketing Strategies for 2024.
#3. Optimize Your Google Business Profile
Nearly 88% of local searches on mobile devices result in a call or visit within 24 hours (MarketApartments).
This makes it critical to ensure that your property’s Google Business Profile is optimized and up to date. Treat your Google Business Profile like a social media platform by regularly updating it with leasing specials, event highlights, and property updates. This will improve your local SEO, making your property more visible to potential renters searching in your area.
For more detailed guidance, check out our blog post, Six Tips to Optimize Your Google Business Profile, where we break down actionable steps to maximize your visibility and engagement.
#4. Improve the Conversion Power of Your Multifamily Website
A high-quality multifamily website is a powerful tool in combating the seasonal leasing slump. As more renters rely on digital tools to explore apartment options, an optimized and user-friendly website can be the key to keeping leads flowing. Multifamily websites that offer clear navigation, up-to-date pricing, and virtual tours help potential residents make quicker decisions and reduce the friction of the leasing process.
It also serves as a powerful hub for your apartment marketing efforts integrating with tools like Google Business Profile and being the destination for your Google Ads campaigns and SEO strategies. By ensuring that your multifamily website is fully optimized for mobile and equipped with all the necessary functionalities, you enhance your ability to capture high-intent renters at any time of the year.
For properties looking to improve the conversion power of their multifamily website, Swifty offers cost-effective website solutions designed to boost engagement, streamline leasing processes, and keep renters informed with the latest pricing and availability. Explore our optimized multifamily website designs here.
Increase Leases With Compelling Fall Leasing Specials
#1. Offer Seasonal Incentives
One of the best ways to increase leasing inquiries during the slower fall months is to offer seasonal move-in specials.
Property managers have reported a 20-25% increase in inquiries when offering incentives like discounted rent, free parking, or bundled amenities (Zillow).
Creating urgency with limited-time deals, such as “First Month Free” or reduced move-in fees, can motivate prospective renters to act quickly.
Leverage Fall-Themed Marketing
Using fall themes in your marketing, such as “Cozy Fall Move-In Specials,” can help you connect with the seasonal mindset of potential renters. Creative, seasonal marketing taps into the emotions and behaviors of renters looking for warmth and comfort as the weather cools. Consider extending lease terms, offering 14- or 16-month leases, to reduce turnover in future fall leasing slumps while securing longer occupancy.
Conclusion: Seize the Opportunities Fall Provides
The fall leasing slump is a predictable part of the multifamily housing market, but with the right approach, it can be an opportunity for long-term growth. By focusing on resident retention, running targeted campaigns, and offering creative seasonal specials, multifamily marketers can ensure that their properties remain competitive and successful year-round. The efforts you put in now—whether through digital marketing, resident engagement, or strategic advertising—will set your property up for success, not only during the slower fall months but well into the following leasing seasons.
