Is virtual leasing working for anyone?

I’ve literally had 4 people in a row say I love it! I want it! But I need to see it in person first. Which I totally understand, it’s just frustrating. when owners keep saying, why aren’t you getting leases?

Morgan - obviously, there are a LOT of factors that go into leasing velocity, and COVID is just one of those right now. However, given the seriousness of and unfamiliarity with this sort of pandemic, it's easier to just attribute the majority of the blame to COVID. That said, we had a client who leased 7 apartments virtually two weekends ago. So it definitely works if you buy into it!

Jordan Easley that gives me hope. We do a lot of corporate leases at our property. I’m just afraid of getting let go from my job during this time.

Definitely understandable. All the more reason to go out there and do everything you can to show them they need you you got this!

Tony Sousa I am fully aware that there are properties who are struggling (and with more than just leasing; rent payments, amenity closures, staff management, etc). I'm simply trying to share positive and encouraging stories that I've witnessed, as I get the sense that there are more of those that go untold than the negative ones. That example was two weeks ago, on the heels of MLB, NBA, NCAA cancelling, so it wasn't exactly all rainbows and butterflies, and that client hasn't stopped excelling at virtual leasing since.

Jordan Easley I get it. But it’s important for Morgan to know, it’s a challenging time, and there’s not one solution that will fix the problem. What will help is pure determination, creativity and a passion to succeed. I get it, you’re attempting to help. All good, keep doing what you’re doing. ????????

Tony Sousa absolutely!

It's working for us!! We used a go pro and light editing on a 1, 2, & 3 bedroom and put up a youtube channel. My agents are following up like crazy and we are rocking and rolling.

If they are saying that, then it is because they know other people are getting leases. They expect you to as well.

Morgan, just know most properties are having a hard time leasing during this time. And two weeks ago, was a different time than today, it’s no surprise people were leasing two weeks ago. Also know, you’re going to have people on here saying “what virus? We’re still leasing like crazy!” They are likely being intellectually dishonest, we are all struggling. But persistent and persuasive follow up is going to be key. Keep pushing, don’t give up!

We’re doing good in the lower end one beds (still luxury level) I offer floorplan, walk through video almost 5 min long and photos. If they want more I do another FaceTime video if it’s unoccupied. That seems to do the trick. Occupied is tougher.

If the apartments you are trying to fill are empty, why not just make arrangements to let them view a vacant while following social distancing protocol? If they are I occupied, I'd understand.

Shelley Emmett Our corporate office canceled all tours. There not even letting them let them go down and look at it themselves. I have a resident who wants to transfer. But he’s frustrated because he can’t see the inside of the units.

Morgan Jackson I'm sorry to hear that. Hang in there!!

We’ve been utilizing video via Zillow right now. And for the vacant units that we do have, I let my on-site managers know to just open the unit and let potential applicants walk through alone. So that way they can practice social distancing. Luckily enough for us, we have been steadily getting applications for units.

I give them a 3 hour window to walk through an unlocked unit or two. So far I’ve had 3 of 4 sign leases after their walk through.

We're averaging right around a lease a day with our virtual leasing efforts!

Tyler Nicolas what market?

RDU, NC

Oh I also want to comment depending on where you live and how people are obeying a stay at home order will determines success as well. I’m in Chicago and seeing something in person is very difficult. Being from Indiana many still think this is a hoax or over reaction so I could see the population not understanding why they can’t see it or expecting this to be over quicker. That’s a factor as well.

Laura Renaldo I am from Indiana and have not seen any signs of people thinking this is a hoax! Very condescending!

sorry to disagree with you but where I’m from it is a very popular opinion

Laura Renaldo I’m in Atlanta Georgia, we have a shelter order in place. So no one can leave period really.

My properties ( c class ) are still doing normal leasing. But with social distancing and only allowing 1 prospect into the office at a time .... and our leasing momentum has been greater in the last three weeks than it has in the last 6 months.

We have had some good success with lock boxes on a few vacants- wiping them down after each prospects leaves, also we complete a guest card of the phone before giving them the code.

We have lost the flow of phone calls...and any one that call our office had come to tour. My LC's will get info ask when they will be here and unlock the unit. They then create urgency STILL and in the email send the link from YouTube of the unit. We got 2 leases yesterday just from my LC saying well I really need a time from you because the unit is not only opened for you we have 3 other people seeking a home during this time that are interested in that unit.

What do you all do after they walk through these unoccupied units? Are you cleaning them before someone else wants to view it?

TL;DR: yes.
We have worked with clients on updating their websites and the call-to-action to "set up a virtual tour". Although we've only had a couple of weeks of history, several of the properties we provide marketing services to have got leases out of virtual tours. We also recently got Matterport 3D tour videos in place to provide a more professional experience for the prospective renter.

Great to see all the positives for Virtual leasing. I truly believe that COVID has forced the hand for more on line and virtual leasing and it will change the roles of the on-site staff teams in the future. It has also forced property managers to review their photos and videos. We are hearing that 49% of all renters find that a video tour is acceptable to utilize to make their leasing decision.

Come up with something that works for your community and stick with it. I work at an unusually small (but beautiful) community. Our leasing velocity is much slower than a typical property, so there is that. -We don't get the volume that others may get so it stands to reason that even more so, each lead, each person, is a golden opportunity.

Yesterday for the first time since all of this started, I had someone say, "Yes, I love it and please send the virtual tour, but I still will want to see it before I apply." I completely respect and understand that! So, together with my Regional in a conversation, we came up with a game plan of sorts for 'when the virtual tour is not enough'. It has to work with your community, your clientele, and your staff because they must buy into the strategy and feel comfortable with the idea/gameplan.

One client leased seven apartments. Nice!

I have had great success with leasing using simple Youtube videos I made on the fly. We reduced our application fees and told folks that we require pre-approvals. It has worked well for us.