Revitalizing Real Estate. How Virtual Tours Can Help Property Investors: A Guide for Landlords

The real estate industry has been evolving rapidly, especially in recent years. With the advancement of technology, property investors and buyers have more options than ever before. One technology that has been gaining traction in the industry is virtual property tours.

In today's digital age, technology has revolutionized many industries, including real estate. With virtual tours, property investors can have a more accurate account of the condition of the property, which supports their financial decision-making. Virtual tours offer a range of benefits that landlords can take advantage of, such as better tenant screening, increased lead conversion, and higher ROI. In this guide, we will explore virtual tours in more detail and discuss how landlords can use them to their advantage.

Virtual tours, also known as 360-degree tours, virtual reality tours, or online tours, are a series of interactive images that provide a detailed view of a property. These tours allow investors to explore properties as if they were physically present, without the need to travel.

In this guide, we will explore the benefits of virtual tours in the real estate industry, how they work, and how to create them. We will also discuss how to make virtual tours more engaging and the best practices for using them in the property investment process.

What are Virtual Property Tours?

Virtual property tours are digital models of properties that enable users to navigate and explore a property without physically visiting it. These tours can be created using specialized software and equipment, such as Matterport, Cloudpano, or VirtualTour360. The software captures and stitches together a series of 360-degree photographs, creating a 3D rendering that allows viewers to move through a property as if they were physically there. These tours can also include other features, such as interactive hotspots, floor plans, and measurements.

Virtual property tours are digital representations of properties that provide an interactive experience for viewers. They use specialized cameras and software to create a 360-degree view of the property. This technology allows viewers to see every angle of the property, including rooms, hallways, and outdoor areas, as if they were physically present.

Types of Virtual Tours

There are several types of virtual tours available to landlords. These include 3D walkthroughs, interactive tours, and immersive experiences. A 3D walkthrough is a guided tour that allows viewers to move through a property, with or without interactive elements. Interactive tours provide a more engaging experience, with clickable hotspots that provide additional information about specific features in the property. Immersive experiences, on the other hand, utilize virtual reality technology to provide a fully immersive experience that enables viewers to move around the property in a more lifelike way.

There are several types of virtual tours available in the market. Some popular ones include:

Matterport Tours: Matterport is a leading provider of virtual tours that use advanced 3D rendering technology. These tours allow viewers to move through a property in a realistic way, with interactive features like room measurements and floor plan views.

Cloudpano: Cloudpano is another popular virtual tour provider that specializes in immersive 360-degree tours. Their technology allows viewers to see a property in high-definition with customizable features like hotspots and multimedia integration.

Why Landlords Love Virtual Tours?

Virtual tours have become increasingly popular among landlords for several reasons. Firstly, virtual tours provide a way for landlords to showcase their properties to potential tenants without the need for in-person showings. This saves time and money for both parties involved.

Secondly, virtual tours provide a more accurate representation of the property than traditional photos or videos. With a virtual tour, viewers can see every inch of the property and get a better sense of its layout and features.

Finally, virtual tours provide landlords with a way to stand out in a crowded market. With the increasing number of rental properties available, virtual tours can help landlords differentiate themselves and attract more tenants.

There are several reasons why landlords love virtual tours. One of the most significant benefits is the ability to screen potential tenants more effectively. With virtual tours, landlords can provide a detailed look at the property, including its features and condition, to potential tenants. This enables tenants to make an informed decision about whether the property is suitable for their needs. Virtual tours can also save time and resources, as landlords can show a property to multiple potential tenants simultaneously, reducing the need for individual showings.

Another benefit of virtual tours is the increased lead conversion and ROI. Virtual tours provide a more engaging experience for potential tenants, which can lead to more inquiries and showings. Additionally, virtual tours can help properties stand out in a crowded market, which can lead to increased demand and higher rental rates. Higher lead conversion and rental rates can lead to a higher ROI for landlords, making virtual tours a worthwhile investment.

What is a Virtual Tour?

A virtual tour is a simulation of a physical space created using specialized software and equipment. The software captures a series of photographs or videos, which are then stitched together to create a 3D rendering of the space. Viewers can move through the space using a computer, tablet, or mobile device, interacting with the environment as they would in real life.

How to Create a Virtual Tour?

Creating a virtual tour requires specialized software and equipment. There are several virtual tour platforms available, such as Matterport and Cloudpano, which offer all-in-one solutions for creating and hosting virtual tours. Alternatively, landlords can create their virtual tours using a combination of equipment, such as 360-degree cameras, tripods, and editing software. Once the tour is created, landlords can host it on their website, social media channels, or virtual tour platforms.

What are the Benefits of Virtual Tours?

Virtual tours offer several benefits for landlords, including better tenant screening, increased lead conversion, and higher ROI. Virtual tours provide a more accurate representation of the property, allowing potential tenants to make an informed decision about whether the property is suitable for their needs. Virtual tours also allow landlords and property managers to expand their reach and attract more potential tenants from all over the world. In fact, according to a study conducted by Apartments.com, properties with virtual tours receive 87% more views than those without them.

But what about the cost of creating a virtual tour? Is it worth it? The answer is yes. While there is an initial investment to create a virtual tour, the long-term benefits greatly outweigh the cost.

Virtual tours can be used repeatedly for multiple potential tenants and can also be updated with new information and images as needed. Additionally, virtual tours can lead to a higher lead conversion rate and ultimately a higher ROI for landlords and property managers. In fact, according to a study by Apartments.com, properties with virtual tours have a 49% higher conversion rate than those without.

Overall, virtual tours have revolutionized the real estate industry by providing a more engaging and immersive experience for potential tenants and buyers. They have become a crucial tool for landlords and property managers to attract and convert leads, while also providing a more efficient and cost-effective way to showcase their properties.

If you are a landlord or property manager looking to enhance your property listings and attract more potential tenants, incorporating virtual tours is a must. With the variety of virtual tour options available, there is a solution for every budget and property type. So don’t wait any longer, start exploring the world of virtual tours and see the benefits for yourself.

Contact ROLINGTON MEDIA today to learn more! 470-737-5971