👻 Let’s talk about the rental market
The air’s getting cooler, the pumpkins are out—and if your leasing numbers feel a little spooky right now, you’re not imagining things.
The last couple of years have been challenging, but 2025 has brought an even more noticeable shift. Properties that used to lease within days are now sitting longer, with less traffic and fewer qualified applicants.
So, what’s behind it? In many markets, we’re seeing an uptick in rental inventory, often from would-be sellers turning into accidental landlords after struggling to sell. That’s created an overflow effect—more options for renters, more competition for managers, and more pressure on owners to stay competitive with pricing.
Every market is different, but one thing feels consistent across the board: leasing takes more work right now—more marketing, more communication, and a lot more patience.
But what I really want to focus on isn’t just the slower leasing cycle—it’s the shift in applicant behavior that’s come with it. Specifically, the rise of what many of us have started calling “ghosting”—applicants who disappear mid-process.
Maybe they schedule a showing and never show up, or start an application and vanish before signing the lease. Whatever form it takes, it’s becoming more common — and more frustrating.
So, let’s dig into why this is happening—and more importantly, what we can do to minimize it.
Understanding today’s renter
To understand this shift, we have to look at the modern renter mindset. Today’s renter isn’t just looking for a place to live—they’re looking for an experience.
They value convenience, transparency, and trust. They expect quick responses, clear communication, and homes that align with their lifestyle and values. And thanks to the digital age, they can browse dozens of listings, schedule tours, and compare rents—all without ever talking to a person.
In many ways, renters behave more like customers than applicants. They expect property managers to sell them on the property just as much as they’re applying for it.
They’re drawn to:
- Speed and simplicity: If the process feels clunky or communication lags, they move on.
- Transparency: They want clear expectations on costs, timelines, and next steps.
- Emotional connection: Photos and descriptions that tell a story—not just list features—stand out.
- Credibility: A professional online presence, consistent communication, and good reviews build trust.
The bottom line? Renters today want to feel seen and valued. They’re not just leasing a home; they’re choosing who they want to do business with.
Why this might be happening
The leasing process now mirrors the modern consumer experience. With so many listings available, renters are “shopping around” like they would on Amazon or Airbnb—multiple tabs open, quick decisions based on first impressions.
Here are a few reasons behind the trend:
- Option overload: More choices mean less urgency. Many applicants explore multiple homes and pivot the moment they find a better deal.
- Financial uncertainty: Rising costs and stricter criteria make some hesitant to commit. Sometimes ghosting isn’t intentional—it’s hesitation.
- Digital disconnect: Automated systems and online scheduling make it easy to disengage because there’s no personal connection.
- Past experiences: If they’ve faced slow responses or confusing processes before, they’re quicker to move on.
At its core, ghosting is a communication gap—and a sign that the leasing experience has evolved. The old playbook doesn’t work quite like it used to.
How we can avoid it
The good news? A few intentional changes can turn those “haunted” leads into happy residents. It’s all about building trust early and creating a more human experience from the start.
Here’s what’s been working for us at Milestone Premier Properties:
- Follow up fast—and personally: The clock starts the moment someone shows interest. A quick, conversational response (even automated) makes applicants feel seen.
- Simplify the process: Complicated applications or unclear steps cause friction. Audit your process and remove unnecessary barriers.
- Build connection early: A short text or call before a showing goes a long way—people rarely ghost someone they’ve connected with.
- Set clear expectations: Be transparent about timelines, documentation, and next steps. Clarity keeps people engaged.
- Highlight value—not just features: Focus your marketing on the experienceof living there—the lifestyle, convenience, and community.
- Re-engage the “ghosts”: Don’t assume silence means disinterest. A simple, friendly check-in can bring people back.
We can’t control the market—but we can control the experience we deliver. When applicants feel guided and valued, ghosting happens less often.
🎃 Final thoughts
This season, don’t let ghosting haunt your leasing process. Keep your follow-ups quick, your communication personal, and your focus on building real connection.
Here’s to a leasing season that’s more treat than trick 👻
Stay spooky!
Brandy Landon
Broker/Owner
This week's must-sees
All things property management in the news these past two weeks:
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Single-family rent growth sits at 1.4% year over year, the lowest in 15 years, according to National Mortgage Professional.
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Overall rents are still up, though, and outpacing inflation, according to Nerdwallet.
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Rental scams are increasing. Yahoo Moneywise has tips on how to stay safe.
Triple Win of the week
What are you asking of your residents at move-out?
Whether it's a cleaning checklist or an exit interview, the PMs in our Triple Win Property Managers Facebook group have some recommendations!
Visit the group to join in the conversation.
Making property management Second Nature
MyQ, in partnership with EliseAI and RPM Living, have teamed up for an all new research report that highlights what today's renters want, and how to increase renewal rates in an economy that's offering more choice and flexibility to applicants.
New from Second Nature
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From Melissa Gillispie, see why the move-in experience sets the tone for the entire lease, over on the blog.
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Adam Willis from Nestwell in Utah joined the blog-writing team, offering his thoughts on why residents are the lifeblood of any property management business.
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In case you missed it, Second Nature announced the Resident Experience Platform, bringing new lease orchestration to PMs and move-in experiences to residents.
One last thought
Did you know that only 37% of residents read their entire lease before signing? We surveyed 500 residents and 100 property managers, and found a big divide between how residents behave and what property managers expect.
Keep an eye out for our upcoming report on the state of resident onboarding, and how you can bridge the divided between expectations and experiences.
Until next time,
💜 The Second Nature team
December 10, 2025
