In today’s competitive rental property market, property managers are constantly seeking innovative strategies to attract potential tenants and stand out from the crowd. One such strategy that has gained significant popularity is the use of 3D virtual tours. These immersive and interactive tours offer a unique way for prospective renters to explore properties from the comfort of their own homes. In this article, we will delve into the reasons why 3D virtual tours have become an essential tool for property management, specifically in the rental homes sector.
The Power of Online Rental Tours
With the increasing reliance on the internet, it has become more important than ever for property managers to utilize digital marketing techniques to showcase their rental properties. According to the National Association of Realtors (NAR), 51% of home seekers found their homes on the internet. This trend is particularly prominent among millennials, who make up a significant portion of potential renters. By offering 3D virtual tours, property managers can tap into this digital-savvy demographic and capture their attention.
Enhancing the Renter Experience
Traditional virtual tours often fall short when it comes to providing an engaging and immersive experience for renters. They can be difficult to navigate and lack the control that renters desire. However, 3D virtual tours, such as those offered by Matterport, go above and beyond by offering a realistic and intuitive way to explore properties. Viewers can navigate through the space as if they were physically present, providing a sense of immersion that traditional tours cannot match. This enhanced experience not only impresses potential renters but also increases their engagement and interest in the property.
Cost-Effectiveness and Time-Saving Benefits
One of the significant advantages of 3D virtual tours is their cost-effectiveness. Property managers can create these tours using specialized cameras or even smartphones, eliminating the need for expensive professional photography. This cost-saving benefit extends to potential renters as well, as they can view properties without the need for physical visits or scheduling appointments. This saves both the property manager and the renter valuable time and resources.
Even more beneficial, renters and property managers can use Matterports virtual tour tech to measure spaces adding to the immersive feel. No more guessing if the home will fit renters’ needs. Matterport even offers property managers the option to have an accurate blueprint made of the home giving them a leg up on the competition.
See It In Action!
Every MoveZen Property Managed home is provided with a 3D Virtual tour at no extra cost!
Standing Out in a Competitive Market
In a competitive rental market, property managers need every advantage they can get to attract potential tenants. 3D virtual tours offer a unique selling point that sets properties apart from others. By providing an immersive and interactive experience, property managers can showcase the best features of their rental homes, giving potential tenants a comprehensive understanding of the property’s layout, design, and functionality. This not only attracts more qualified prospects but also filters out those who may not be the right fit, saving time for both parties involved.
Even more notable, Matterport’s ability to showcase a home from anywhere in the world made a dramatic impact on the market. During the height of COVID when we saw many out-of-state movers, MoveZen in particular saw an increase in activity for our homes because of our provided virtual tours. Renters felt comfortable and at ease applying for properties sight-unseen because of our tech and we were able to rent homes faster than our competition because of it.
Boosting Conversions and ROI
The ultimate goal of any property management strategy is to convert leads into tenants and maximize return on investment (ROI). 3D virtual tours have been proven to significantly increase lead conversion rates. According to a study by Matterport, 74% of agents reported winning more listings by utilizing 3D virtual tours. This technology allows potential tenants to envision themselves living in the space, creating a stronger emotional connection and increasing the likelihood of them choosing to rent the property. Additionally, 3D virtual tours can decrease the time a property spends on the market, leading to faster tenant turnover and increased ROI for property managers.
The Versatility of 3D Virtual Tours
3D virtual tours are not limited to residential rental properties; they can also be utilized for commercial real estate and multifamily housing. In the commercial real estate sector, 3D virtual tours provide businesses with an accurate view of potential workspaces, helping them make informed decisions. For multifamily housing, these tours attract high-quality prospects and increase engagement with properties online, ultimately reducing vacancy rates. The versatility of 3D virtual tours makes them a valuable tool for property managers across various sectors.
The Matterport Advantage
Matterport, a leading provider of 3D virtual tour technology, offers a comprehensive solution for property managers. Their Matterport Showcase goes beyond traditional 360 tours, providing a realistic and immersive experience for viewers. Through their platform, property managers can create their own 3D walkthroughs using specialized cameras or smartphones, making the process simple and accessible. Matterport’s technology has been proven to increase viewer engagement by 300% compared to 2D imagery and has helped agents win more listings. With its ability to enhance the renter experience, attract more qualified prospects, and streamline the rental process, Matterport offers a significant advantage to property managers.
In the competitive world of rental property management, staying ahead of the curve is crucial. Virtual tours have emerged as a powerful tool for property managers to attract potential tenants, increase conversions, and enhance the rental experience. By leveraging the immersive and interactive nature of these tours, property managers can differentiate themselves in the market, save time and resources, and ultimately achieve higher ROI. With the Matterport platform, property managers have access to cutting-edge technology that enables them to create stunning virtual tours and gain a competitive edge in the rental homes sector. Embrace the power of 3D virtual tours and revolutionize your property management business today.