Ultimately, you’ll need to consider marketing, leasing, resident, and ancillary tools/equipment when it comes to your property management budget. Your commercial real estate operating budget is important, so the sooner you can evaluate tools to meet your teams’ needs, the quicker you’ll start to see the return on your investments. In addition to looking at the numbers, you may need to revisit your property management budget and add in new tools as gaps arise.
Today, the vast majority of people use the internet when they are looking for products and services they need. Consumers today also use the internet to decide where they want to live. As a result, your multifamily community needs to have a strong online presence as well. One of the ways you can increase your occupancy rate is to make sure you can give virtual tours to those who might not be in your immediate area.
As an example, you might be able to put Realync to work for you. This is a software program that you can use to give live and pre-recorded video tours to those who are interested in your property. While you might think that 3D and 360 tours are good enough, these are items you want to have at the top of your sales funnel. When someone is looking to sign a lease, they want to see the unit in which they will actually live in. That is why you need to use virtual tours to help you with that.
When you take a look at virtual tour software, you need to make sure it’s an easy-to-navigate and seamless platform. For example, with Realync, you just need an phone camera on an iPhone, Android or tablet. Then, you just download the app. It does not get much easier than that. Teams can close leases quicker and reach prospective residents in other states by using virtual tour software. This is something that needs to be a line item in a multifamily community budget moving forward.