From shopping to signing, the multifamily leasing process has changed in a big way, thanks to the wonders of the digital age. While not everyone is fully on board the train yet, everyone sees the value of getting a seat.
You could even say that the future is already here, with a few select companies having created “virtual leasing offices,” where technology runs the show and everything is done digitally. Still, it makes sense for most properties to have onsite staff, and instead, use elements of a virtual leasing office to provide more flexibility for consumers and more productivity for property staff.
Here are a few elements of virtual leasing that you should consider integrating into your onsite office if you haven’t already:
1. Up-to-the-Minute Listings
With system integration, all of your systems can talk to each other, keeping demand, prices and availability all in sync with your website. Customers can see exactly what’s available and staff doesn’t have to end tours with unmet expectations.
2. Virtual Shopping
While pictures can never replace an onsite tour, the right images can certainly bring in more prospects. That’s why high-quality, high-resolution photos are so important for your website. They showcase the very best elements of your property so you can make a great first impression.
3. Virtual Tours
Many prospects don’t want a full tour of your property until they put you on their short list. Providing an interactive site map and showing your available floorplans will give them the next best thing to being there.
4. Online Applications
Time-consuming paperwork can be a big barrier to closing a lease. In a 2015 Kingsley study, 88% of renters surveyed preferred to submit an application through the property’s website. Online applications invite applicants to fill out the required paperwork after hours, before work or whenever it’s convenient for them. It speeds up the leasing process, simplifies logistics and saves the leasing agent hours of people and document management.
5. Online Screening
Screening used to require snail-mailing a document off or at least making a phone call and waiting for the results. Online screening gives you results exponentially faster. In addition, prospects’ concerns about who’s looking at their information are alleviated because everything is done electronically.
6. Multitasking with Mobile Devices
When prospects do come for an on-site visit, they don’t always choose the most opportune times for onsite staff. In fact, they usually come in groups. With devices like RealPage’s Smart Leasing Tablet, prospects can fill out a guest card and see real-time pricing, unit availability, interactive site maps, 3d floorplans, high-definition photos and videos, and neighborhood information while they wait.
7. Virtual Leasing
The best technology in the world means nothing if you can’t close the deal. That’s why virtualleasing has been such a big breakthrough. It closes the deal in the most efficient and convenient method possible, taking less time and improving accuracy. The prospect no longer has to spend time filling out paperwork in the office and staff can focus on new prospects. Digital signatures and digital document management make the process almost effortless. This one’s worth its weight in revenue.
These tools are more than just nice-to-haves. They’re must-haves. If you’re not using as many as possible, you’re probably missing out- on leases, time and revenue. Learn more about virtual leasing solutions available for your property management business.
