Leads are not leases
Listing sites are good at reporting leads. The question that matters is how many of those leads toured and signed. Start every ILS review by matching each source to leases in your property management system, not just to inquiries.
Calculate cost per lease by source
Divide monthly package cost by the leases each source produced. A package that looks cheap per lead can be expensive per lease, and a pricier package can be the bargain once conversion is counted.
Check your source data before you trust it
Renters often find you on one site and apply after a Google search. If leasing teams pick the wrong source, or the CRM defaults to "website," the report will mislead you. Spot-check guest cards and fix source mapping first.
Match package level to occupancy
A stabilized property at high occupancy rarely needs a top-tier package. A lease-up or a property with rising vacancy might. Review packages each quarter and adjust them to what the property needs right now.
Look at what the listing actually shows
Outdated photos, missing floor plans, and stale specials quietly lower conversion. Before cutting a package, make sure the listing is doing its job.
Move money to what works
The goal is not just to cut spend. It is to move spend from sources that do not lease to sources that do, such as SEO, paid search, or a stronger review strategy.
An ILS audit pays for itself when it moves even one underperforming package into a channel that leases.