The Importance of Virtual Leasing Tools

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The Importance of Virtual Leasing Tools

The shift towards tech in multi-family leasing has slowing been sneaking up on us for some time now, but COVID accelerated this process, throwing us directly into the online world of virtual leasing. While some were more prepared than others, there’s no better time to buckle in, because virtual leasing is here to stay.

 

What is Virtual Leasing?

We’re glad you asked. Virtual leasing is basically how leasing processes have moved online. Receiving leads, apartment tours, signing leases, and everything in-between can now be accomplished virtually. Not only does a virtual leasing office bring value to your properties, it’s now expected.

The shift to digital benefits everyone involved as it increases efficiency and flexibility throughout the entire leasing lifecycle. It’s also safer and more convenient. Giving prospects virtual options allows them access to your property from the comfort of their home, which will only become more important as the pandemic rages on. Even with a vaccine in sight, your array of leasing options shows prospects that you are willing to go above and beyond, creating a killer first impression.

The flexibility of virtual leasing can be seen throughout the entire process, providing prospects with everything they need, whenever they want it, wherever they are. Managers and renters are no longer working around each others schedules. Instead we’re expediting the process, making it easier and faster than before. This new era of efficiency can be curated to fit specific needs and comfort levels while reaching a larger audience. You won’t lose your personal touch, it will instead shift to a more convenient medium.

While the concept of virtual leasing may seem simple, actually implementing it is the important part. Here are a few ways you can step up your virtual leasing game:

 

1. Pre-Recorded Content

Floor-plans alone will no longer cut it. Photos and videos are absolutely essential on online listings. Whether you include photos of model apartments or videos of each vacant unit, having this media available is crucial. Grab your phone and go take photos- We’ll wait.

Pre-recorded content offers on-demand access to tours and can be used in online listings, social media, or shared by personal request. It’s important to be willing to provide this type of content as prospects ask for it throughout their leasing journey, even if it is time-consuming.

 

2. 3D Virtual Tours

Need to enhance boring floor-plans? 3D virtual apartment tours allow prospective tenants to ‘walk’ through apartments online through a series of panoramic photos. This virtual walk-through, or click-through, can really give prospects a feel for the layout of the unit. Internet listing sites like Apartments.com and Zillow offer virtual tours in select packages. (View one here!) Want to go a step further? With the right software you can create these tours yourself and view them on virtual reality headsets!

 

3. Custom Video Calls

In-person tours can be replaced by video calls on FaceTime, Zoom, Google Hangouts, or Skype. Live video calls allow leasing agents to make personal connections with prospective renters and answer questions while viewing apartments and amenities in real-time. Streamlined and efficient technology is important to meet the expectations of today’s renters.

 

4. Open Houses, Closed

Open houses, however feasible, may not be well attended as more cautious renters prefer to tour online only. Our solution: Move your open house online! Create live events on Facebook or Instagram highlighting available units and amenities, allowing prospects to follow along at home. This type of virtual event lets viewers ask questions in real-time and already start to feel like part of the community, without the pressure of a one-on-one tour.

 

Virtual leasing has quickly evolved from a nice feature to an absolute necessity and it’s no surprise that these methods will stick around, probably forever. In addition to virtual tours, any portion of the leasing process can become digitized, including contract signing and payments.

Virtual leasing offices increase convenience and efficiency for both renters and managers, opening the door to new potentials throughout the entire industry. Digital leasing tools emerged out of necessity, but bring huge value to your property. Why wouldn’t you take advantage of as many virtual leasing tools as you can?

Here at Hively, our on-site management teams offer a variety of virtual leasing options available to prospective renters. Learn more about our technological advantages today.