3 Creative Uses of Multifamily Technology to Help Lease Up Your Property

The Best Multifamily Technology Tools to Lease Up Your Property

Multifamily technology plays a significant role in how renters browse for potential places to live. Apartment complexes and buildings are leveraging technology creatively to help their vacant units stand out. 

The internet is extremely saturated with noise within the real estate rental space. Multifamily owners who leverage technology to their advantage when leasing up their properties save more money by reducing vacancies. 

As multifamily owners, property managers, and real estate professionals, it’s vital that we adapt to multifamily technology in the industry.

Here are several creative uses of multifamily technology that you can implement to help lease up your property and avoid vacancy costs.

1. 3D Virtual Tours

Consumers browse and shop online for goods and services more than ever. The same applies to the multifamily industry. When renters browse for potential places to move into, most search online. How can you better reach potential renters looking for apartments online?

Consider creating a 3D virtual tour of the unit that is coming available to rent. 3D tours are becoming more popular because of their immersive nature. A potential resident can fully experience what it’s like to walk through a unit via a virtual tour. If your community offers this and others don’t, yours will surely stand out from the crowd. 

It can be challenging to motivate a prospective resident to visit your property in person to view the available units. 3D virtual tours let renters view a space in full and get a clear sense of whether they would be interested in living there. 3D virtual tours will generate more interest from renters looking online for a place to live, and ultimately will help you fill the unit faster.

2. Aerial Drone Footage

Does your multifamily building offer outdoor amenities, parking, and green spaces for walking? If there are any features of your property worth highlighting from the sky, do it. Property managers are using drones to capture aerial footage of properties and buildings they are trying to lease. For example, if the property has a pool and an outdoor yard, capturing it in a drone video can help showcase these features to potential residents browsing online. 

People love videos because it allows them to experience something through a different lens and perspective. By highlighting a property’s outdoor features, you will naturally generate more interest from prospects. The drone videos that you capture are also considered evergreen content. You can continue to reuse them as long as the video doesn’t appear outdated. It’s worth the one-time investment to use drone footage to showcase your property and help get it leased.

3. QR Code Advertising

When browsing for a place to live, renters want information quickly. The more easily accessible your apartment details are, the more web traffic you can receive. Consider using QR codes to creatively promote your community and increase occupancy. 

QR codes can be placed anywhere. For example, if you have a mailing list, you can place QR codes on a postcard you mail that link to an available floor plan, a drone video, or a 3D virtual tour. The options for what you want the QR code to link back to are endless.

QR codes are an inexpensive way to generate more interest in your property. These codes can be created online for free, depending on how unique and customized you want them to be. It’s not uncommon to now see QR codes on physical signs or billboards throughout your travels. Wherever you think it could be relevant to place one, do it.

Another good example of how to leverage QR codes is a resident referral program. Referring someone can take work. The easier you make it for someone, the more likely they are to refer to you. If you have a leasing office or common area at your property, consider hanging up a poster with a QR code that links to a webpage describing your resident referral program. 

Some property managers offer an incentive or gift for referrals. The QR code can link directly to a webpage with the referral program information and a submission form for people to enter their referrals. These codes leverage technology to let people give you referrals to lease your units within a few seconds, right from their smartphones.

Jenn is an experienced writer for the real estate industry and a house flipper for We Buy Houses in Denver. If she’s not swinging a hammer, she’s either writing about different real estate topics or reviewing investment property opportunities.