What it costs to fill a unit, and what a filled unit is worth.

Move the sliders to your own assumptions. Every number on this page updates, including the conservative case where the ads underperform on everything at once.

1 · What you pay us

One flat monthly fee.

No per-lead fees, no per-tour fees, and no setter desk to pay for. Ad spend goes directly to Meta from your own account, so you keep control of it and you see every dollar of it.

$10,000 / month
Covers all 55 properties. Ads, creative, the landing pages, lead routing into your leasing calendars, and weekly reporting.
$10,000 / month
Your ad spend, paid to Meta rather than to us. This is the starting budget every number on this page is based on, and you can change it at any point.
So $20,000 a month in total at the recommended starting budget, half of which is media you control directly.
2 · The calculator

What a month of this looks like.

Start with a scenario, then adjust anything you disagree with. The conservative case is what happens if we are wrong about all three assumptions at the same time.

Your ad spend each month
Cost of one lead
Leads that book a tour
Tours that sign a lease
Leads a month
–
people who fill in the form
Tours a month
–
booked into your leasing calendars
Leases a month
–
units filled

The two numbers on the left are the ones we are accountable for, because they are decided by the ads and the page. Cost per signed lease is decided by your leasing teams converting the tour, which is yours to run, so we report it every week but we do not price against it.

Cost per lead
–
all in, including your ad spend
Cost per booked tour
–
all in, including your ad spend
What you pay in total
–
Cost per signed lease
–
Paid back in
–
of that tenant's rent. After that the unit is earning.
Cost to fill one unit with us–
What an apartment locator charges for the same signed lease$500 to $1,000
3 · What one filled unit is worth

An empty unit still costs you $9,000 a year.

The mortgage, the property taxes, the insurance and the site payroll are paid whether anyone lives in the unit or not. Only about 20% of your operating cost actually rises when a tenant moves in. So the question is not whether a lease covers $9,000, it is what filling the unit changes.

12 months of rent, less one month of move-in concession$11,000
Less 8% for unpaid rent and skips$10,120
Less the operating costs that actually rise with a tenant−$1,800
Less make-ready−$1,000
What filling one unit is worth, year one$7,320
Put another way: empty, the unit earns nothing and carries about $9,000 of cost. Filled, it brings in $12,000 against roughly $1,800 of extra cost. That is a swing of around $10,500 a year on a stabilised unit, and $7,320 in the first year after a free month, bad debt and the make-ready. We have also assumed the tenant leaves after 12 months, although 400 move-outs a month against 11,700 occupied units implies your average stay is closer to 29 months.
4 · The return

What you get back for every dollar.

Three sets of assumptions at your current ad spend. The last column is everything going wrong at the same time, and it is the one worth reading.

At a monthPlanModerateVery conservative
5 · Filling the portfolio

What it takes to fill the units you have empty.

Set how many units you want filled. This uses the assumptions you chose above, and it counts every lease we sign rather than the net gain after move-outs.

Units you want to fill
Leads needed–
Tours needed–
Ad spend, in total–
Our fees over that period–
How long it takes at your current monthly spend–
Cost to fill each unit–
6 · What we assumed

Every number we used, and where it came from.

If you disagree with any of these, change the sliders above and every figure on this page moves with them.

Cost per lead, $12 in the plan caseTaken from comparable Spanish-language housing campaigns. Housing ads sit in a restricted category on Meta, so there is no targeting by age, income or ZIP code, which pushes the cost up compared to a normal campaign. Cost per lead also falls as spend concentrates, so the first few weeks will run higher than the rest.
25% of leads book a tourThis is the number most affected by how fast someone calls. A lead called within 5 minutes books at several times the rate of one called the next day, so we report your team's response time every week alongside the leads.
25% of tours sign a leaseThis is decided by your leasing teams, the unit, and the price. We do not touch any of it, so we have kept the number flat across every scenario rather than claiming we improve it.
Average rent of $1,000Your portfolio average. If the properties we start with rent higher, every return figure here improves.
Operating cost of $9,000 a year per unitYour figure, with the mortgage separate. We assume about 20% of it rises when a tenant moves in, being utilities, unit maintenance and the management fee, while property taxes, insurance and site payroll stay the same whether the unit is occupied or empty. If your variable share is different, tell us and we will rerun it.
Make-ready of $1,000 per unitCharged in full against the new lease. You will know this number precisely and it is the one we would most like corrected.
A month is 30 daysMeta spends on a daily average and settles weekly, so monthly spend is your daily budget times 30.
Leases are counted gross, not netSections 2 and 5 count every lease we sign. Some of those renters would have found you through a listing site anyway, so the effect on occupancy will be smaller than the lease count suggests.