The real estate industry has undergone significant changes in recent years, with technology playing a major role in transforming how properties are marketed and leased. One of the most impactful developments has been the rise of virtual tours in the rental housing sector. As of December 2022, virtual tour technology has become a pivotal tool for property managers, offering renters a chance to explore listings remotely with greater convenience and efficiency.
Virtual Tours: A Game-Changer for the Rental Market
The COVID-19 pandemic accelerated the adoption of digital solutions across various industries, and property management was no exception. Health concerns and social distancing measures prompted an increasing demand for contactless property viewing. By December 2022, rental platforms like RentPath, the parent company of Apartment Guide and Rent.com, began to offer enhanced virtual tour features that allow prospective tenants to experience properties in 3D without leaving their homes.
On December 10, 2022, RentPath officially launched an advanced virtual tour service. The platform enables property managers to create detailed, interactive 3D walkthroughs of rental units, offering prospective tenants the opportunity to explore properties in-depth before scheduling an in-person visit. Renters can view these tours on their smartphones, tablets, or desktops, zoom in on specific features, and even measure rooms for a better understanding of the space. This technological leap offers an experience that traditional photos and videos cannot match.
Why Virtual Tours are Becoming Essential
Virtual tours provide several significant benefits for both tenants and property managers. With time constraints and lingering health concerns related to in-person interactions, many renters now prefer the flexibility of virtual tours. This allows them to narrow down their choices before committing to a physical visit.
From a property manager’s perspective, virtual tours streamline the leasing process, saving time and resources. Instead of conducting multiple in-person showings, virtual tours allow potential tenants to tour properties at their convenience, which helps attract a broader audience, including out-of-state or international renters who might not have otherwise considered the property.
Moreover, the ability to view properties virtually helps manage the flow of tenants, allowing for more efficient scheduling of in-person visits. Property managers are now able to provide a more comprehensive preview of a property’s layout, reducing the need for multiple tours and increasing overall productivity.
The Technology Behind Virtual Tours
The success of virtual tours relies on cutting-edge technology such as 3D scanning, interactive software, and digital twins. One of the leading companies in this space is Matterport, a company renowned for its 3D imaging technology. RentPath has partnered with Matterport to provide their clients with an immersive virtual tour experience. Matterport’s platform captures every detail of a space, creating a highly accurate digital twin that can be explored from any angle. The result is an experience that simulates being physically inside the property, offering renters a true-to-life walkthrough.
The process begins with a Matterport camera scanning the property. This data is then converted into a 3D model that can be navigated, zoomed into, and interacted with in real time. The immersive nature of these tours allows prospective tenants to get a detailed sense of the property’s layout, lighting, and overall ambiance, helping them make more informed decisions.
Real-World Success Stories
For property managers, virtual tours are proving to be an indispensable tool. Jessica Molina, a property manager based in San Francisco, shared her positive experience with virtual tours. “In the past year, virtual tours have become a crucial tool in our leasing process. Not only do they save time for both us and the tenants, but they’ve also allowed us to reach a wider audience. I’ve had prospective tenants from out of state sign leases after touring a property virtually—they wouldn’t have even considered applying if they had to travel for an in-person visit.”
This kind of success story highlights the power of virtual tours to expand a property’s reach. RentPath’s platform, in combination with Matterport’s 3D imaging, makes it possible for property managers to target tenants beyond their local area, increasing exposure and, potentially, lease agreements.
Looking Ahead: A More Tech-Savvy Rental Market
As virtual tours become more common, experts predict that the rental market will continue to evolve toward a more tech-savvy model. For property managers, having a strong virtual presence will become as important as maintaining an inviting physical space. The ability to provide 3D tours will likely become a standard expectation in the industry, reshaping how properties are marketed.
Moreover, the shift to virtual tours could redefine how renters make decisions. Instead of scheduling multiple in-person visits to compare different units, tenants can now evaluate many properties from the comfort of their homes, narrowing down their choices based on the virtual tours. This efficiency benefits both renters and property managers by making the leasing process faster and more flexible.
Conclusion
Virtual tours represent a revolutionary development in property leasing. By leveraging technology like 3D scanning and digital twins, property managers can offer a more engaging and convenient experience for prospective tenants. As demand for virtual viewing options continues to grow, it’s clear that these tools will become indispensable in the rental housing sector, helping property managers attract a wider range of tenants and streamline their leasing processes.
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