A lot of rental property owners and property managers are asking about self-showings, and it’s for good reason. With the COVID-19 pandemic, there’s been an increased need for touchless showings where potential residents can go through a property without coming into contact with other people.
At AMOSO Properties, we have been using self-showing technology for almost two years, and even before the pandemic, we’ve found that it adds value to the leasing and management services we provide.
Let’s talk about some of the benefits to self-showings for real estate investors and St. Louis property managers.
Self-Showing your St. Louis Rental Property
Self-showing technology comes with a number of benefits.
For starters, the prospective residents touring your property are pre-qualified leads. You’ve already asked the questions about income, previous rental history, evictions, and bankruptcy. That portion of the screening must be completed before any prospect does a self-showing.
Another benefit is the flexibility of the showing. Prospective residents can set up a time to view the property when it works best for them and their schedule. Self-showings are a great advantage because more showings are happening, which means the entire leasing process moves faster, leaving you with a shorter vacancy period. We’ve found that self-showings can bring in 10 to 20 showings a day as opposed to the 5 to 8 showings that could occur if a property manager actually has to be at the property. That places residents faster.
Most people work during the days and want to view the properties from 5 pm to 8 pm. This self-showing concept gives them the opportunity to view the property when they can. It also frees up time for the property manager to do other time-consuming things.
Timing is everything when it comes to renting out a St. Louis property. When someone wants to see a property, you need to do everything in your power to get them inside as soon as possible. If you don’t show them your property quickly, they will go look at something else, and you will lose a potential resident.
Maintaining a Secure Showing Process
When we implemented this technology a few years ago, one of our major concerns as property managers and property owners was security. We worried about allowing people to go into a property by themselves.
After talking with others who were already using the technology, we realized security could be enforced during a self-showing. We use a system that requires prospective residents to upload a picture of their I.D. It must be a driver’s license, a passport, or something that is clear and legible. The photo I.D. is verified and a cell phone number is required. A code is then sent to the prospect who wants to view a property, and that code expires after an hour.
That gives potential residents a one-hour window to see the property. If they try to go at a different time, the code will no longer work.
Self-Showing Technology Provides Access to Vendors
A black code box will be attached to the doorknob at the property. There are many different types of code boxes used, but we like the bigger ones. We can actually designate a specific code per vendor in case different vendors need to go out to the property.
With this box, we can track who is going in and out of the properties. These black code boxes function on a 9-volt battery and if the battery ever dies, they can be charged easily.
Self-showings have become very popular, especially with the current situation our world is in.
Remember to follow up with the prospective residents who see the property. Ask for feedback and keep in touch so you can offer an application or answer any questions.