The number that pays rent, tracked by community.
Cost per click and cost per lead stop short of the number that matters. We track conversions to tours and applications, join leases from your PMS, and rank every community by what it actually cost to fill a unit.
What the number actually looks like
| Property | Spend | Conv. | CPA | Conv. rate |
|---|---|---|---|---|
| 1 The Arcade | $7,368 | 261 | $18 | 12.0% |
| 2 Canvas Flats | $7,852 | 228 | $21 | 9.7% |
| 3 The Meridian | $5,694 | 191 | $18 | 11.3% |
| 9 Harbor View | $7,335 | 100 | $45 | 4.6% |
Real conversions, real leases, graded honestly
Tours and applications, not form fills
Conversion actions are built around a renter booking a tour or starting an application. Cheap conversions that are really just page views get filtered out before they ever inflate a cost-per-conversion number.
Joined from your PMS
Leases signed come from Entrata, RealPage, or Yardi, or from lead-source reports where a direct feed isn’t available, joined back to the campaign that originated the renter.
PMax graded honestly
Brand vs. non-brand conversions are split out, and impression share lost to budget vs. lost to rank is tracked separately, so you know whether more spend or better ads is the fix.
Every community ranked, so budget moves to what's earning it
In the demo portfolio, The Arcade converts at 12.0% for an $18 CPA while Harbor View sits at 4.6% for $45, on comparable spend. That gap is where a budget reallocation pays for itself, and it's visible on Floor 3 without pulling a single manual report.
- Every property ranked by spend, conversions, CPA, and conversion rate
- Floor 1 alerts when a special changes, tracking breaks, or pacing drifts
- Floor 2 auto-written summary for whatever property and date range you pick
- Refreshed daily, forwardable to ownership as-is
Monitor, the $350 base tier. Cost-per-lease reporting is included. Available standalone at a 5-property minimum.
Three ways in. Pick the one that fits.
18% of managed spend, Monitor at $350 per property with the dashboard included. Published, per property, month-to-month.
See pricing →Run 3–5 properties against your current vendor. Beat their cost per lease or the pilot is free. $1,500/mo+ ad spend.
Start the pilot →Fifteen minutes, one community's ad account. We'll show you where spend is leaking and what we'd do in the first 30 days.
Book a 30-minute call →Questions about cost-per-lease reporting
How is cost per lease actually calculated?+
Total marketing spend for the period, ad spend plus any management fee, divided by leases signed that are attributable to that spend over a consistent attribution window, usually 30 to 45 days from first touch. It’s the number that matters more than cost per click or cost per lead, because a lead that never tours doesn’t pay rent. We calculate it per property and roll it up to the portfolio, so you can compare like against like.
How do you know a conversion is a real tour or application, not a form fill?+
Conversion actions are built around tours booked and applications started, not every form submission or phone click, and we check that tracking against your account regularly rather than assuming it still fires correctly after a site change. Cheap conversions that are actually just page views or newsletter signups get excluded before they ever reach the dashboard, so the cost-per-conversion number reflects renters taking a real step, not noise.
How do leases get matched back to marketing spend?+
Leases signed come from your property management system, Entrata, RealPage, or Yardi, joined to the lead source or campaign that originated the renter. Where a direct PMS feed isn’t available, we work from lease-source reports your leasing team already runs. Matching by source keeps an ILS’s flat fee from getting blended into a PPC channel’s per-click spend, which is where most cost-per-lease comparisons quietly break.