Why 94% Occupancy Just Doesn’t Cut It Anymore

This week, we’re digging into why it’s time to reassess when to declare a property “stabilized”

If you own or manage a property and think 94% occupancy means you’re crushing it, let’s talk. Because right now, there’s an untapped goldmine sitting in that final 5%. Imagine pushing your occupancy rate to 97%, 98%, or even 99% all year.

This isn’t just a pipe dream or some gimmicky sales pitch. This is about adopting a new approach, rethinking your leasing strategy, and structuring your team to drive major revenue growth and keep those homes filled year-round. Here’s the real deal on how to go from “good” occupancy to “sold out, join the waitlist today!”

Change Starts At The Frontlines

Look, call a spade a spade- most properties today rely on entry-level leasing agents with minimal training to fill your multimillion-dollar building. And it’s not their fault, but if your plan to bring in millions of dollars in rent each year depends on someone with a few weeks of training, who completed one compliance module, and possesses little to no high-volume sales experience—well, it’s like asking a rookie to play in the Super Bowl.

It’s just not the best strategy. And yet it is almost a universal experience in multifamily. 

Why is that?

Imagine having experienced, seasoned sales professionals who know how to close, who understand buyer psychology, and who know exactly how to create a killer first impression. This first step isn’t just about reaching 100% occupancy; it’s about elevating the entire leasing experience before that first lead even enters the CRM. When leasing is handled by a dedicated sales team—people who know exactly what they’re doing—you see a shift. Occupancy goes up, turnover rates drop, NOI (Net Operating Income) shoots through the roof, and suddenly, 99% occupied doesn’t feel so unattainable. Start by putting the right people on the front lines…

On-Demand Leasing: Meet Prospects When They’re Actually Available

Now, let’s talk about a huge mistake most properties are still making: limited, inflexible leasing hours. Most property managers are working with a strict 9-to-5 or 10-to-4 office schedule. But your next neighbor isn’t sitting around in the middle of the day—they’re working, too! They need flexibility, and they want to view a place when it works for them, not the other way around.

The typical solution has been self-guided tours, which sounds great in theory. But in reality, it’s just not getting the job done. Self-guided tours lack that personal touch that converts a “maybe” into a “yes.” People are making big decisions when they pick a new home, and they want to connect with someone who can give them real answers, walk them through every feature, and ultimately make them feel like they belong.

An on-demand leasing team changes the game. Imagine a model where your team is ready to show apartment homes when it’s convenient for the prospect—nights, weekends, even last-minute appointments. This isn’t just about convenience; it’s about maximizing every single leasing opportunity. Your team doesn’t sit around waiting for prospects—they go out, make appointments, and are fully present for every showing. By being available on demand, you’re not only raising conversion rates but creating a seamless, high-touch experience that sets your property apart from the competition.

The Resident Experience - Specialized 

Here’s another shift that’s making a massive impact in occupancy: creating specialized roles focused solely on resident experience. In the traditional setup, on-site teams juggle way too much, from maintenance requests to budgeting to billing. They’re wearing a hundred hats, which leaves little time for real resident interaction and follow-through.

What if you could carve out a dedicated role—someone who’s there solely to make the resident experience exceptional? A resident experience specialist keeps communication clear, builds rapport, and makes sure residents feel seen and heard. And you know what happens when residents are happy? 

They stick around. They also give you advance notice when they’re planning to move, which gives your leasing team the jumpstart they need to pre-lease those units before they’re even empty.

By knowing your residents well, your team can even show occupied units to prospective renters with the current residents’ blessing, cutting vacancy time to almost zero. This kind of streamlined process isn’t the norm, but it’s powerful. And it’s exactly how you go from average occupancy to near-constant full occupancy.

How to Achieve Higher Occupancy with Early Leasing Tactics

Typically, properties wait until an apartment is vacant to start marketing it. By then, you’re already losing money. But if you’ve got a great relationship with your residents, they’ll be upfront about their plans. Knowing a few months ahead that a unit is opening up lets your team start showing it right away, sometimes even giving tours while it’s still occupied (yes, with the residents OK).

Think about the impact: If you can start booking tours and securing new tenants before the current one moves out, you’re keeping that revenue stream going with almost zero downtime. This small tweak can be a huge financial win, especially when multiplied across dozens or hundreds of units. The key is having a relationship-driven team that knows how to balance respect for current residents with the drive to maintain high occupancy. That’s how you turn the old “wait and lease” approach on its head and build a true, high-performance leasing operation.

The Bottom Line: Raise Your Standards, Raise Your Returns

In today’s market, sticking to “good enough” isn’t going to cut it. Moving from 94% to 99% occupancy is absolutely doable—it just requires rethinking a few traditional practices. This is the difference between a property that’s treading water and one that’s maximizing its NOI and creating a place where residents want to stay.

When you put the right team in place, build flexibility into your leasing process, and elevate resident experience, you’re setting a new standard for what “fully leased” really means. In an industry where the norm is good enough, challenge yourself to be the exception. Make the choice to go all-in on a leasing strategy that raises occupancy, delivers a superior experience, and drives returns like you’ve never seen before.