Since the advent of technology, the real estate industry, amongst others, has transformed into a modern venture. You can now send prospective renters a link like the apartments for rent in Augusta to take a digital walkthrough of your units from the comfort of your home. However innovative as that might sound, virtual tours are not without drawbacks. This article gives a complete picture by highlighting the pros and cons of virtual tours for rental properties.
Are you a property owner looking for new ways to attract tenants? Do you wonder what innovative digital tool can help you reduce vacancies? Find out if virtual tours are one of the tools you need to help your business succeed right here.
Table of Contents
Pros and Cons of Virtual Tours for Rental Properties
1. It Allows You to Showcase Your Property from Home
One of the most apparent benefits of virtual tours is that neither you nor your potential tenants have to leave the comfort of your home. You can conveniently create a tour on your laptop or mobile phone, and tenants can view it with their device. This feature allows both parties to save time and money in the long run.
2. It Expands Your Reach
Another benefit of using a virtual tour is that it expands your reach. When you host only physical viewings, your market is limited to people within your immediate vicinity. On the other hand, when you post a public tour, even international tenants can view your home, reach out and send an offer.
3. It Reduces the Need for Physical Contact
Despite people moving on like everything is normal, COVID-19 is still active. Thus, it would be best to limit physical contact whenever possible to practice social distancing. While masks do a great job of limiting the spread, virtual viewings eliminate it. Hence, it would certainly be worth considering this option, especially if you or the tenant are at risk.
4. It Lets Tenants Form an Attachment with the House
With a virtual tour, tenants can spend as long as they want in the house. This feature gives them the chance to explore the property on their terms. They can revisit the bedroom as often as possible and compare the kitchen with other options. That allows renters to form an emotional attachment with the house, which can urge them to send an application.
1. Tenants Cannot Evaluate All Elements in a Tour
Even with the most lifelike tours, virtual reality cannot capture the totality of real life. In other words, tenants would still miss some elements of your house that are best appreciated in person. The modern cabinet hardwood, the view on the porch at sunset, or the rich feel of the carpet. These are details that would most likely go unappreciated in a virtual tour. Although, Bay Property Management Group can arrange on-site visits with potential tenants to mitigate this con.
2. It Doesn’t Allow Tenants to Interact with the Surroundings
Besides the house, virtual walkthroughs don’t allow tenants to interact with the surroundings. If one of your property’s best selling points is the neighborhood’s ambiance, a digital tour will make it harder to sell your point.
3. Most Virtual Tours Don’t Support Human Interaction
One of the benefits of a physical tour is that you can act as a tour guide during the viewing. However, virtual tours do not afford you the luxury of selling your unit while the tenant visits. Thus, you might be unable to sway them or answer any questions they might have during the tour.
Top 3 Virtual Tour Sites Landlords Can Use
If you’re looking to reduce vacancies and boost your viewings, you should try 360Virtual Tours. They are one of the country’s most popular rental property 3D tours, and their services are available all year round. 360Virual Tours uses a collection of professional pictures to create stunning views of your home. In explore mode, you can view the house in dollhouse mode, check out each floor, and turn 360 degrees.
Another great site is Kuula. Their easy-to-use software makes it convenient for even the least tech-savvy landlord to create their tour. Although, if you still have a hard time figuring it out, they provide customer support. Kuula is also an economically sound choice for property owners with tighter budgets. With their services, your first 100 public uploads are free.
Finally, iStaging is a virtual tour option ideal for users that want to use their smartphones. This will be the best choice if you want to quickly create a digital walkthrough in a couple of hours. However, if you want a more sophisticated showing, you can opt for an affordable $50 lens attachment. iStaging supports smartphone pictures, enhances them, and creates a lifelike tour.
That’s a wrap! We hope this article on the pros and cons of virtual tours for rental properties has given you a better picture. Digital walkthroughs are an excellent tool to showcase your rental property without spending a dime on transportation. It also allows reaching a wider audience without risking your health in uncertain times.
Although, virtual tours aren’t perfect. Some features of your rental and their surroundings would be impossible to appreciate digitally. However, for all its pros, virtual tours are a convenient tool to help your rental business succeed.
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