What is a Self-guided Tour Apartment?

What is a Self-guided Tour Apartment?

A self-guided tour apartment refers to a unit available for prospective renters to tour on their own, without a leasing agent present. It allows renters to visit the property at their convenience and explore the apartment at their own pace, typically using smart locks, keyless entry systems, or temporary access codes provided by the property management team.

Self-guided tours have gained popularity in the multifamily real estate industry due to their flexibility and convenience, especially during and after the COVID-19 pandemic, when contactless interactions became more important.

Here’s how a self-guided tour process typically works:

How a Self-Guided Tour Works:

1. Schedule a Tour:
   Prospective renters schedule a time slot for their tour through the property’s website or leasing app.
2. Verify Identity:
   Renters must often complete identity verification (via driver's license or other ID) and submit a credit card hold to ensure security.
3. Receive Access Instructions:
   The property management provides temporary access codes or instructions to enter the building and the specific apartment unit.
4. Tour the Property:
   The renter can explore the apartment and amenities at their own pace, without a leasing agent present.
5. Follow-Up Communication:
   After the tour, the leasing team typically follows up with a call or email to answer questions and discuss next steps.

Benefits of Self-Guided Tours for Renters:

• Flexibility: Tours can be scheduled during or outside regular office hours.
• Privacy: Renters can tour the space alone, without feeling pressured by a leasing agent.
• Convenience: Ideal for people with busy schedules or those relocating from out of town.
• Efficiency: Allows renters to tour multiple properties in one day without needing to coordinate with multiple leasing agents.

Benefits for Property Managers:

• Reduced Staffing Costs: Leasing teams don’t need to accompany every tour.
• Increased Lead Conversion: Prospects can tour units on-demand, reducing friction in the leasing process.
• 24/7 Availability: Properties can offer after-hours tours, increasing the availability of units to prospective renters.
• More Tours: Leasing agents can handle more leads by automating parts of the touring process.

Technology Involved in Self-Guided Tours:

• Smart Locks: Provide keyless entry to units (e.g., August, Yale, Schlage).
• Tour Scheduling Platforms: Tools like Tour24, Rently, and SmartRent manage scheduling, identity verification, and access codes.
• Property Management Software Integration: Platforms like Entrata, Yardi, and RealPage offer self-guided tour features as part of their leasing tools.

Why Are Self-Guided Tours Popular?

Self-guided tours are growing in popularity due to changes in renter preferences. Renters value convenience, autonomy, and safety, which self-guided tours provide. Additionally, properties are looking to streamline operations and reduce costs in a competitive multifamily market.