Prospect

Glossary

A prospect is a potential renter who has shown interest in an apartment community and may move through the leasing funnel.

Definition

A prospect is a potential renter who is considering an apartment community and has shown some level of interest, such as by browsing, contacting the property, requesting information, or scheduling a tour. In the leasing funnel, a prospect may become a lead once they provide contact information, then may move to tour, application, lease, and resident stages. Operations teams use prospect activity to understand demand, follow-up needs, and leasing performance.

Example

A renter submits a website form asking about a one-bedroom apartment, then schedules a Saturday tour. The leasing team records the person as a prospect, tracks the tour outcome, and follows up if the person does not apply.

Why It Matters?

Prospects are the starting point of the leasing pipeline. Tracking them consistently helps operations leaders measure marketing quality, leasing-team follow-up, tour conversion, no-shows, and speed from first contact to lease. This visibility supports staffing decisions, budget allocation, and actions to reduce vacancy.

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