ConAm Management LeaseStar Update

January 2016

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EXCITING NEWS

PLO to LeaseStar Syndication Migration


Thank you for partnering with us to transition ConAm sites from PropertyLinkOnline to LeaseStar Syndication. We have been making steady progress and intend to become even more fluid in future migration waves.


We have currently completed migrating the following regions:


  • San Diego Region - 9 Communities - Completed 1/19/2016
  • Southeast Region - 7 Communities - Completed 1/22/2016
  • Las Vegas Region - 22 Communities - Completed 1/28/2016


We are scheduled to complete the following regions:


  • Fresno & Sacramento - 17 Communities - Migrating 2/10/2016
  • Inland Empire Region - 14 Communities - Migrating 2/17/2016


The migration date is TBD for the following regions:


  • Arizona
  • Colorado
  • Seattle



IMPLEMENTATIONS



  • We are currently working to restore Crystal View's LeaseStar Syndication and Check Availability product centers.

LEASESTAR LEAD2LEASE - 90 DAY SOURCE ANALYSIS

The below graphic shows ConAm's Top 10 Lead Sources over the past 90 days, sorted in descending order by number of tours taken. After analyzing this data, there are a couple of takeaways to consider below the graphic.
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  • With 3,040 Leads, 1,512 Tours, and 291 Leases in the past 90 days, Lead Source "Drive By" is a strong source of leads and leases. These leads convert to leases at nearly a 10% clip, accounting for considerable revenue. My recommendation is to ensure that the Leasing Teams are digging a little deeper for how prospects are discovering their community, ensuring that driving by was indeed the method and not a default selection. By gathering this information, it will give you an advantage in planning budgets, adding and dropping ad sources, and allocating marketing dollars throughout the year.


  • The number 4 source of tours in the list above is "PropertyWebsite". While the 6,726 Leads being a very impressive number, there are a couple of concerns and recommendations that I have:



o Property Websites are usually one of, if not the highest lead to lease converting source in a property management portfolio. Out of the almost 7,000 leads that came in through the lead source "PropertyWebsite", a little less that 1% of leads converted into a lease. Let's explore opportunities for improving conversion on these leads.


o When auditing lead sources in Lead2Lease across the portfolio, I found 8 variations of Property Websites that included "Property Website", "Community Website", "24/7 Website", "Entrata Website", "Property Website", "Mobile Property Website", "G5 Website", and "Corporate Website". The combination of these websites produced just over 5,500 leads that converted to leases at 1.75%.


o My primary recommendation is to first, determine which Website lead sources can be consolidated. Then, we will determine the most efficient method to map lead sources between your property management system and Lead2Lease.

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