01 Sep, 2022
Self-guided touring has become one of the fastest adopted leasing solutions in the apartment industry. While COVID may have spurred the momentum, renter demand and high tour conversions have confirmed that self-guided apartment tours are here to stay. While many case studies validate the benefits of self-guided tours and many industry insiders support them, there are still a lot of questions and some misconceptions about this new touring technique. Here, we’ll break down what self-guided tours are and the benefits for Property Managers and renters alike. What’s the difference between self-guided tours and virtual tours? Before the industry began offering self-guided apartment tours, it introduced renters to virtual tours. Virtual apartment tours allowed potential renters the experience of seeing the apartment and amenities from the convenience of their computer. Properties typically offer virtual tours using video, 360-degree viewers, or a Facetime-style walk-through with an agent. While virtual tours give renters a good sense of the community from a distance, self-guided tours take the experience one step further. With a self-guided tour, the renter gets to actually experience the community- when and how it’s best for them. What is a self-guided tour? Self-guided tours allow potential renters to experience the community- including the amenities and the apartment(s)- without a Leasing Agent escorting them. It’s an option that offers a lot of flexibility and value for both renters and management teams. There are various ways to offer self-guided tours, and each supplier has unique features. Before you begin to evaluate solutions, consider your goals with self-guided touring. Below are the four primary functions of a self-guided touring solution and things to consider when researching options: Pre-Screening : All potential renters who will access your building should complete a screening process before being granted access. This process can include confirming their ID, taking a credit card, and signing a terms and conditions agreement. Things to consider : What are the steps involved in the screening? Is the process simple for renters? Can it be conveniently done from their phone? What protections will this process offer you as a Property Manager? Tour Scheduling : Renters should be able to schedule a self-guided tour online before arriving at the property. To accommodate walk-by/drive-by traffic, consider a solution that allows renters to screen and access upon showing up. Things to consider : Do you want the tour to have a set start and stop time? As a Manager, will you have the flexibility to set your self-guided touring schedule? Will the self-guided tour schedule integrate with the calendar that you’re already using? Access : Renters will need secure access to the amenities and any apartments they want to see- vacant apartments and models. Most self-guided solutions require smart locks. Others opt for lock boxes on apartment doors. Pineapple uses the metal keys and key fobs that most apartment communities already utilize. A key-kiosk at the entry checks keys in and out and tracks their location. Things to consider : What type of locks are you currently using? Do you need to change keys or locks? If so, what is the cost associated with new locks? What maintenance, such as security updates or battery replacement, is required with each solution? If opting for a smart lock solution, what type of smart locks will you use, and will they work on vacant apartments? Will the solution you select allow residents to see the actual apartment or floor plan they will rent or just the model apartment? Navigation : Once in the community, potential renters will need to be able to find their way around. You’ll want to know that they don’t miss any of the value-add features of your community. Navigation can vary from a paper map to turn-by-turn directions on their phone. Things to consider : Will you offer an app that renters need to download or web-based navigation? Does any hardware need to be installed in your building to provide navigation? Why do renters love self-guided tours? Convenient touring times : As the “on-demand economy” grows, people become growingly accustomed to having things when and how they want them. Apartment hunting is no different. Self-guided tours further build on this on-demand trend by offering renters the flexibility to tour when convenient. Did you know that 20% of self-guided tours happen outside traditional leasing office hours ? Most Property Managers offer self-guided tours that cover a couple of hours before and after work and on the weekends and holidays. These extended hours give potential renters more options and the sense that management respects their time. Flexible tour experience : In addition to the flexibility to tour when they want, with self-guided apartment tours, renters also enjoy touring how they want. Depending on the self-guided touring solution and the parameters set by management, renters can see the amenities and apartments they want at their preferred pace. Personalized Support : While some renters are happy to walk through the community for their self-guided tour unaided, others may prefer a more guided and supported approach. Self-guided tours make sure every renter gets their ideal level of support. Why do Property Managers love self-guided tours? Broader market reach : For Property Managers looking to drive more leasing traffic, one of the most straightforward solutions is offering more leasing hours, specifically hours that best accommodate renters. By offering self-guided tours, you’ll attract prospects that prefer self-guided tours and those unavailable during your traditional office hours. Increased tour conversions : According to NMHC’s OpTech Conference & Exposition data, lease conversions increase by 86 percent when prospects take self-guided tours. That’s a significant increase in the conversion rate for traditional tours, making self-guided tours a more effective leasing solution. Competitive advantage : Self-guided tours aren’t just an effective leasing solution but an amenity. As renters compare the pros and cons of the properties in a market, the property that offers customer-centric, convenient self-guided tours have a leg up . Quick inquiry to tour conversion : By offering renters more tour time options, leasing teams improve their likelihood of getting a quick turnaround from initial call or DM to tour. Improve staff work/life balance : Increasingly, employees are prioritizing work/life balance when selecting an employer and choosing to stay put. In a 2022 KeyBank Financial Stability Survey , 62% of employees ranked work-life balance as the most important thing to them- even more than a high-paying salary (22%). They also indicated that their highest priority was “spending time with family and friends.” Self-Guided touring allows leasing teams to enjoy a good work/life balance and time with family without affecting the number of tours given or negatively affecting occupancy. Stable and expanded leasing hours : With self-guided tours, properties offer expanded, dependable leasing hours regardless of unexpected staffing shortages or unforeseen circumstances. Self-guided tours are gaining significant traction with management companies and renters alike. Now is a great time to evaluate the self-guided options and see how they can help you achieve your property’s goals. At Pineapple, we’ve designed our platform to provide Property Managers with all the tools they need to create an engaging renter experience while maximizing ROI. Schedule a demo today if you’re interested in learning more about how you can offer self-guided tours without using smart locks.