• Conquer budget season with our guide to data-driven marketing strategies for multifamily properties in 2025.
  • Learn how to analyze past campaigns, set SMART goals & optimize spending across digital channels for higher occupancy in 2025.
  • Unlock a powerful edge in multifamily marketing for 2025 by retaining residents and leveraging new tech.
  • Plus, get our FREE budget template tool!

It’s that time of year again: budget season. For multifamily marketers, this can be a strategic scramble to evaluate and prioritize spending for the upcoming year in the ever-evolving and highly competitive digital landscape. But don’t worry! Rent. is here with a data-driven list of key things to consider when approaching your 2025 digital marketing budget.

Plus, we even created a free 2025 multifamily digital marketing budget template to help you get started!

 

Things to consider:

Occupancy rates and future availability

Consider current traffic patterns and future lease renewal schedules to adjust marketing spend during certain times of the year. There may be certain times of year that you have higher than usual lease expirations due to a past promotion or seasonality. Plan for these times to minimize availability exposure and lost revenue.

ROI of previous marketing budgets

Before diving into shiny new tactics, take a deep dive into your existing digital marketing performance. Analyze website traffic sources, track conversions from online leads, and measure the effectiveness of your current campaigns. This data will be your roadmap for allocating resources effectively. Identify what’s working and what’s not – sometimes, a simple budget shift within existing channels can yield big results.

Clear objectives by marketing channel

Where do you want to be next year? More leads? Increased occupancy? Set SMART goals (Specific, Measurable, Achievable, Relevant, Time-bound) to guide your budget allocation. Ensure your marketing tactics are achieving your target cost-per-lead and cost-per-lease for each marketing channel.

Asset class and building size

Evaluate your portfolio mix to determine if certain buildings need additional marketing support based on size or asset class to meet their leasing and revenue goals. Also consider the entire submarket when planning as a single large building may need more marketing support than a group of smaller ones in the same area to get the same overall return. Think about what buildings make the most impact on your bottom line.

Market conditions

Assess specific market conditions per property to determine the rental demand in your specific area. What is the current market rate rent for a specific area? Is there enough supply for the current demand? Are there new employers moving in or out of the area? Review local economic reports and other market information when planning. Market conditions can affect demand greatly, so do your research and plan accordingly.

New technology

While staying grounded in proven strategies is important, budget some resources to test new technologies and marketing avenues. Investigate and pilot new technologies that can be leveraged to provide a better ROI on your marketing investment. Virtual tours, interactive floorplans, automated lead nurture, AI leasing agents, and automated social content creation are just a few examples.

Competition

Identify your immediate competitors’ marketing tactics to ensure you are being seen in the marketplace by renters. Take time to really dig into what your competitors are doing across all digital marketing platforms including search, social, ILS, and reputation management. This is especially true for lease-ups with typically much larger budgets than stabilized properties.

Resident retention

Don’t forget about your existing residents! A strong communications strategy can keep residents informed about events, promotions, and community updates. Loyalty programs and resident referral incentives can also be budget-friendly ways to encourage resident retention.

 

By following these tips and focusing on data-driven decisions, you can transform budget season from a burden to a strategic advantage. Remember, it’s about maximizing your ROI and showcasing your community to the right renters at the right time. So, grab your data, check our free budget tool, and get ready to conquer budget season!

Need help this budget season? Book your free consultation to discuss your digital marketing budget and how to supercharge your leasing now and in the future!

 

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