You are analyzing your advertising expenses. You have a print ad in the apartment guide. Rental magazine, that costs $900 per month. You also have an ad on the apartment com. Website that cost $224 per month. You have tracked your call show. In lease, traffic and have determined that you conducted 6 shows in rented to 3 residents who stated they saw you first in apartment guide. You also had 10 emails and 3 follow-ups. Renting to 2 of these prospects who came from apartment com. Website, calculate your cost per lease. In dollars, from each source

Answer 1

To calculate the cost per lease for each advertising source, we need to follow these steps:

1. Determine the total advertising costs for each source.
2. Identify the number of leases generated from each source.
3. Calculate the cost per lease for each source.

1. Total Advertising Costs

• Apartment Guide (print ad): $900/month
• Apartment.com (website ad): $224/month

2. Leases from Each Source

• Apartment Guide: 3 leases
• Apartment.com: 2 leases

3. Cost Per Lease Calculations

Apartment Guide:

• Total Cost: $900
• Leases: 3
• Cost per Lease: \( \frac{900}{3} = 300 \) dollars per lease

Apartment.com:

• Total Cost: $224
• Leases: 2
• Cost per Lease: \( \frac{224}{2} = 112 \) dollars per lease

Summary of Cost Per Lease

• Apartment Guide: $300 per lease
• Apartment.com: $112 per lease

These calculations show that the advertising expense for each lease from Apartment Guide is significantly higher than that from Apartment.com.