They say
“Entrata already reports the leasing funnel.”
We say
In detail, inside the system. What it cannot do is rank outside sources on effective value net of concessions.
For Entrata
Two leases at the same rent are not worth the same if one came with two months free.
Export executed leases from Entrata, upload the sources behind them, and rank on effective lease value rather than on leads.
No API key Nothing to install in EntrataNothing to install No card requiredNo card
CloseRev reads an Entrata export of executed leases — the resident's contact detail, the rent, the term and the concession — and matches it against the listing services, campaigns and calls that produced the enquiry. Entrata already measures the funnel closely; what it cannot do is compare the internet listing services and paid campaigns against each other on effective lease value net of what each one's residents were given away. Leases with no traceable source are reported as Direct / Unknown.
Last checked against Entrata's own documentation on September 24, 2026.
The gap
Every listing service reports leads. None of them reports what the lease was worth after concessions.
Entrata sees
What was sold, to whom, and for how much.
no shared row
Your ad account sees
The click, the keyword, the call, and what each one cost.
The file
What the export needs in it.
Three things carry the match: who, how much, and when. Anything else is optional and only changes how the report can be sliced.
- Needed
Resident phone or email
Captured at enquiry and carried onto the lease. Consistency between the two is what makes the join work.
- Needed
Rent, term and concession
All three. Rent alone overstates a lease that carries two months free, and concessions are not evenly distributed across sources.
- Needed
Execution and enquiry dates
Both, so the report can group by when the prospect arrived rather than when the lease was signed.
- Optional
Property and floor plan
Which asset and which unit type. A portfolio average describes none of the properties in it.
Step by step
Getting the file out of Entrata.
Written for somebody with Entrata open in the next tab. Report names vary by edition, so each step says what to look for.
-
Export executed leases with concessions
One row per lease with a contact detail, the rent, the term, the concession and the dates.
-
Compute effective value, not headline rent
Rent times term less concession. Doing this once, consistently, is most of what makes the ranking honest.
-
Export every source
Listing services, paid search and social, the property website, call tracking and any locator or agent arrangement.
-
Cover a full leasing cycle
Residential leasing is strongly seasonal, and a quarter compares seasons rather than sources.
-
Upload both
The join runs on the phone and the email, normalised, with renewals reported apart from new leases.
What comes back
The page Entrata cannot show you.
Revenue by channel, the count of sales behind each figure, and an honest bucket for the ones nobody could trace. Sample figures, from the worked example on the Apartment Communities page — not from a Entrata account.
Traced to a channel$756,00060% of $1,260,000
Sales matched360 of 601high confidence only
Average sale$2,100per paid sale
| Channel | Share | Sales | Revenue |
|---|---|---|---|
| ILS portals | 204 | $428,400 | |
| Google Ads | 107 | $226,800 | |
| Meta Ads | 49 | $100,800 | |
| Direct / Unknown | 241 | $504,000 |
Unmatched sales stay in Direct / Unknown. They are never spread across the paid channels to make the total look better.
The argument
What changes when the lease and the ad share a row.
Concessions are where a lead-based comparison quietly fails
Two sources can produce identical lease counts at identical headline rents while one of them required a month of free rent on every deal.
That difference is the entire margin on those leases and it is invisible in any report that stops at signed leases.
Concessions are not randomly distributed: price-led enquiry sources convert under a concession and resist without one, which is precisely what makes them look efficient.
Using effective lease value — rent times term less concession — is a single arithmetic step that reorders most portfolios' source rankings.
It is also the number an asset manager already thinks in, which makes the report immediately legible to the people who decide budgets.
Listing services are bought at portfolio level and perform at property level
A listing service is typically contracted centrally across an entire portfolio, and its performance is reviewed the same way.
Submarkets differ enough that the same service can be the cheapest lease at one asset and the most expensive at another twenty minutes away.
Splitting effective lease value by property turns a single contract decision into a set of property-level allocations, which is where the money actually is.
For a portfolio of any size this split is usually the reason to run the report at all, and it survives contact with a vendor's own reporting.
It also identifies the two or three assets carrying a service's portfolio-wide average, which is the argument for renegotiating rather than cancelling.
Renewals are the most profitable leases and they are not acquisition
A renewal costs no turn, no downtime and no marketing, which makes it the most valuable transaction a property has.
Pooled with new leases it swamps the acquisition signal and every source looks effective; reported separately it becomes the retention measure it is.
The second number then becomes available: whether a source's residents renew, which varies more than most operators expect.
A source producing residents who leave after one term is producing a turn cost as well as a lease, and that cost belongs in its ranking.
The report keeps the two apart so neither is silently credited to the other.
Group by when the prospect arrived, not when the lease was signed
Leases signed in a month were produced by enquiries from weeks earlier, and in a lease-up the gap is longer still.
Grouping by execution date therefore attributes a month's leases to whatever marketing ran that month, which is rarely what produced them.
Carrying the enquiry date through lets the report group by arrival, which is the grouping a spending decision needs.
It also produces the enquiry-to-lease interval per source, which tells a leasing team how far ahead of the season to be spending. A source with a six-week interval has to be running before the season starts, and turning it on once occupancy slips is the same as not running it.
Fair questions
“Entrata already does that.” Not quite.
They say
“Our listing services report conversions.”
We say
They report leads and sometimes tours. Neither is a lease and neither knows what was conceded.
They say
“Concessions are a pricing decision, not marketing.”
We say
They are both, and they are not evenly distributed across sources — which is exactly why they belong in the ranking.
No. It reads an exported file, so your residents, leases and accounting stay where they are.
Executed leases with a contact detail, the rent, the term, the concession and the dates.
Because two leases at the same rent are worth different amounts when one carried two months free, and sources differ on that.
Yes, and for a portfolio it is usually the reason to run the report.
Separately. A renewal is retention, and pooling it with new leases makes every source look effective.
Yes, over a second year, and it varies more than most operators expect.
A full leasing cycle at minimum, because residential leasing is strongly seasonal.
Because a month's leases were produced by earlier enquiries, and grouping by signing attributes them to the wrong spend.
Yes, where the export carries it. Studios and three-bedrooms attract different prospects from different sources.
Any lease with no traceable enquiry source. Its size is stated rather than distributed.
A contact detail, a rent, a term, a concession and dates. No applications, no screening results, no payment records, no lease documents. Encrypted in transit and at rest and deleted with the import.
Effective lease value per source per property, new leases and renewals apart, grouped by when the prospect arrived, with everything unmatched kept visible.
By trade
Trades that run Entrata.
What the report looks like once the export is in, written for each one.
- Apartment CommunitiesWhich channels produced signed leases?
- Student HousingWhich channels signed beds during the pre-leasing window?
- Build-to-Rent CommunitiesWhich channels leased up the community, and how fast?
- Property ManagementWhich channels produced signed management contracts?
- Co-Living OperatorsWhich channels produced members who actually stayed?
Other systems
Also worth reading.
Running more than one system, or comparing? The method is the same and the columns are not.
Closed-sales file MRI Software Multifamily and commercial operators Closed-sales file What to export Closed-sales file RealPage Multifamily operators Closed-sales file What to export Closed-sales file DoorLoop Small property managers Closed-sales file What to export
All 97 systems 
Entrata and the other product names and logos on this page belong to their owners and are shown to identify the software a file comes from. CloseRev is not affiliated with or endorsed by them, and connects to none of them: it reads a file you export.
Start today
Two exports, and you will know.
Nothing to install in Entrata, no API key, and no need to have been tracking anything until now. Last year works as well as this month.