Case study · NMHC Top 15 developer
49% more leases. Nearly the same traffic.
One of the 15 largest apartment developers in the US tested PERQ at six communities and held two back for comparison. Here's what happened in the first 60 days.
Customer
National apartment developer and operator, ranked by the National Multifamily Housing Council (NMHC) among the 15 largest in the US
Challenge
Integrations that didn't work together, leads that stalled before signing, attribution they couldn't trust, and reporting spread across “25 different places.”
Solution
A test at six communities, with two held back as a control. PERQ took over paid search and added interactive lead capture, with leads tracked from source to signed lease.
Products
PERQ Traffic & Lead Generation
+49%
Website leases
vs. the same communities a year earlier, on 5% more traffic
2.2x
Website leads
vs. the same communities a year earlier
+62%
Leases per visitor
vs. the two communities held back as a control
All figures come from the developer's own Google Analytics and property management system reporting.
01
The challenge
When we first sat down with the developer’s marketing team, they named four problems:
- Integrations that didn’t work together. Website, property tech, and listing feed issues kept bouncing between vendors.
- Leads that stalled before signing a lease. Too few moved on from lead to tour, tour to show, and show to application.
- Attribution they couldn’t trust. Even after improvements to their reporting, a meaningful share of traffic and leads still showed up as “property website” or “unknown.”
- Too many systems. Pulling a full picture meant going to “25 different places” to assemble metrics and reporting.
02
The test
Rather than roll out across the portfolio, the developer made PERQ prove it. Six communities got PERQ Traffic & Lead Generation. Two similar communities in the same portfolio were held back as a control, tracked with the same reporting over the same two months.
If the numbers didn't move, the test would show it.
03
What changed
Renters still researching stopped slipping away. Interactive experiences on each website captured them before they were ready to book a tour. And the marketing team could see which ads produced signed leases.
How PERQ did it
- Lead Capture with Attribution on every community website
- PERQ-managed paid search, optimized toward leases, not clicks
- Google Business Profile management: posts, products, and bookings
- Pulse Marketing Intelligence: every stage tracked by source, in one view
The results
After 60 days, we measured the test two ways, both on the developer's own communities.
Leases up 49% on 5% more traffic
Same 3 communities, one year apart
June–July 2026, with PERQ
June–July 2025, before PERQ
Website visits
+5%
3,907
3,715
Website leads
+119%
224
102
Website tours
+31%
48
37
Website leases
+49%
14
9
Monthly average per community. Percent change calculated from unrounded data. Bars are scaled within each stage.
62% more likely to sign a lease
6 PERQ communities vs. 2 held back as a control, same two months
5
6 PERQ communities
vs.
3
2 control communities
Website visitors who signed a lease, out of every 1,000
Measured per visitor, so differences in traffic between the two groups don't tip the scale.
June–July 2026. Website-sourced leases divided by website visits.
How we measured it
Leads, tours, and leases are website-sourced only. They don't include leasing from listing sites, walk-ins, phone calls, or referrals. Sources are the developer's Google Analytics (GA4) and property management system reports. All six PERQ communities launched June 1, 2026. Only three had Google Analytics tracking in 2025, so the year-over-year view uses those three. The developer held the two control communities back as part of the test. They are in the same portfolio and measured with the same reporting over the same two months. They run none of the PERQ solution: no lead capture, managed paid search, or Google Business Profile management.
Why it matters
The test settled it. The gain didn't come from more traffic. It came from what happened after a renter arrived, and the marketing team can now see which sources produce signed leases. The next budget decision starts from leases, not clicks.
“PERQ did everything they said they would do in increasing leads and leases out of my marketing spend, and finally giving me clear marketing data to measure and improve.”
Marketing leadership · NMHC Top 15 developer
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