Marketing Through a Slow Leasing Season

When leasing slows down, cutting your marketing budget might feel like the obvious move—but it could actually make the problem worse.

In this episode of The Multifamily Marketers Podcast, hosts Josh Grillo and Caroline Mills break down how apartment communities should approach marketing during a slow leasing season and where their budgets should actually go.

From protecting high-intent channels like Google Search to auditing your leasing funnel and reallocating underperforming spend, this episode explains how to stay visible, spend smarter, and compete when renters have more options.

You’ll learn:

• Why cutting marketing during a slow leasing season can hurt visibility
• What to audit before throwing more money at lead generation
• The marketing channels and strategies you shouldn’t cut
• How to reallocate underperforming marketing dollars more effectively
• Why competing only on price and concessions isn’t a long-term strategy
• How marketing and operations must work together to improve leasing performance
• Three quick wins to strengthen your marketing this week

To suggest a topic, get in touch!

For more multifamily marketing help, connect with us at Resident360.

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TRANSCRIPT

Episode 49: Marketing Through a Slow Leasing Season

Podcast Co-Hosts: Josh Grillo and Caroline Mills, Resident360

Josh: Welcome back to the Multifamily Marketers Podcast. I’m your host, Josh Grillo, co-founder here at Resident360, and I’m joined by my co-host, our director of digital marketing, Miss Caroline Mills. That’s a lot to say, Caroline. How are you doing?

Caroline: Doing well. It’s so funny: We were just talking about the sunny Florida weather, and in that span it poured rain for about five minutes, and now it’s sunny again. So I’m going through all the seasons over here right now.

Josh: Oh boy, you are going through all the seasons, and that’s a great segue into today’s topic. We’re talking about slow leasing seasons and slow leasing markets, really focusing on those late-fall, winter, rainy seasons, when people are wondering, “What do I do? Do I cut my marketing budget?” That’s what today’s show is all about: marketing in a slow leasing market, what to cut, what to keep, and what actually works. Are you ready for this one, Caroline?

Caroline: I’m ready. Let’s dive in.

Josh: Okay. When occupancy starts to soften and leases become harder to secure, one of the first questions we hear from clients is, “Should we cut the marketing budget?”

Caroline: Yes, and I got this question recently. Not because summer is slow, but because I had some teams in budget boot camps working on budgets for the second half of the year, into the fall, and into next year. It’s a fair question, but the answer isn’t always a simple yes or no. Today we’ll walk through where we think your marketing dollars should go, which mistakes to avoid, and how to stay competitive when prospects have more options than they did a year or two ago.

Josh: The first instinct during slow leasing periods is often to reduce spending. But think about it this way: If renters are actively searching, isn’t it even more important to make sure you’re visible when they do?

Caroline: Exactly, well said. Marketing isn’t something you turn on only when occupancy drops. Communities that keep investing strategically during slower times often come out ahead, because they capture a larger share of a smaller audience. We explain this a lot when we talk about budgeting for slow leasing periods. If everyone else pulls back, your visibility can actually improve. That doesn’t mean spending more. It means spending smarter.

Josh: So before increasing your budget, you ask a simple question: Is everything we already have actually working?

Caroline: Yes, and this is where we encourage teams to slow down and audit their marketing. We have a few episodes about the full funnel and where to look, but you want to ask questions like: Is our website converting visitors? Are our calls being answered? Are tour requests getting timely follow-up? Is our Google Business Profile up to date? Are our specials current everywhere? Do we have recent photography? Are our online reviews helping or hurting us? Throwing more money at a broken funnel rarely solves the problem. Sometimes the biggest opportunity isn’t more traffic or more marketing. It’s improving what happens after somebody finds you.

Josh: So let’s talk priorities. If the budget is adjusting, where shouldn’t you cut?

Caroline: Our first answer is almost always Google search. Don’t cut it. When someone searches “apartments near me,” “two-bedroom apartments in Orlando,” or “luxury apartments downtown,” that’s high intent. Those are prospects actively looking for a place to live. Giving up visibility there usually means handing those leads directly to your competitors.

Second, don’t stop collecting reviews. You know I love talking about reviews; I bring them up all the time on this show and with my teams. Your reputation influences almost every part of the leasing decision today. Responding to reviews, encouraging happy residents to leave feedback, and maintaining your online presence are low-cost efforts with long-term value.

Third, don’t let your website go stale. We have a full website episode on this, but you want fresh photos, current pricing, updated specials, and clear calls to action. That makes a huge difference.

Josh: So where you can shift strategy, it isn’t all about spending less. It’s really about reallocating your dollars.

Caroline: Yes, and we talk about this all the time. If someone gives us a certain budget, how do we help them reallocate it in the way that’s best for them? If a particular channel hasn’t been producing results, ask why. Maybe it’s time to refresh your creative, update your audience targeting, or test different messaging. Sometimes there’s an opportunity to increase remarketing or shift dollars toward branded search. You could layer in geofencing around employers, competitors, or local events. Or you could expand into paid social to tell your community’s story through video and lifestyle content. Overall, a slower market is often the perfect time to experiment and optimize.

Josh: So we want to stop competing only on price. That’s probably the big takeaway today.

Caroline: Yes, absolutely. When leasing slows, many communities immediately increase concessions. Concessions certainly have their place, but if every property is offering one month free, it’s no longer a differentiator. Instead, ask yourself: Why would someone choose your community? Is it your amenities, your resident experience, your walkability, a pet-friendly lifestyle, your community events? Your marketing should answer those questions before prospects ever schedule a tour. Remember, you’re not just leasing an apartment. You’re selling a lifestyle.

Josh: And here’s something marketers don’t always want to hear: Operations matter more than ever. Marketing can’t overcome a poor leasing experience.

Caroline: Exactly. If calls go unanswered, emails sit for two days, tours feel rushed, or reviews about maintenance are consistently negative, no amount of advertising can fix that. Marketing and operations have to work together. The strongest-performing communities aren’t always the ones with the biggest budgets. They’re the ones delivering a consistent experience from the very first click to move-in day.

Josh: Okay, let’s wrap this up with some quick wins. If you’re listening today and leasing has slowed, Caroline, what are three things you’d do this week?

Caroline: Ooh. Number one: Google your own property. Put on your prospect hat, as I like to say, and look at it the way a prospect would. What stands out? What needs improvement? Number two: Review your lead follow-up. How quickly are inquiries getting a response? Could the experience be faster or more personalized? And number three: Take a fresh look at your marketing assets. Could you use new photography, videos, headlines, or specials that better reflect your lifestyle? Sometimes these small improvements create a much stronger first impression.

Josh: So a slower leasing market doesn’t mean marketing has stopped working. It simply means strategy matters more.

Caroline: Exactly. The communities that succeed in slower markets are usually the ones that stay consistent. They measure what matters and keep improving instead of reacting out of fear. Marketing isn’t just about generating more leads. It’s about creating a leasing experience that gives prospects confidence in choosing your community.

Josh: I’d say that’s a great wrap for today, Caroline. We appreciate everybody joining us. We’ll be back next week with another exciting episode of the Multifamily Marketers Podcast. Caroline, have a great day out there, and we’ll check back in next week with a new topic.

Caroline: Thank you, guys. Bye!