In this guide, I answer the most important questions people commonly have, the pros and cons, and the different software and platforms available so that you can offer self-showings to your potential tenants. Ready to automate your business?
Contacless showings help cut down on the time and costs associated with conventional property showings. You can provide prospective tenants with private access to a rental unit without you needing to be there.
The main idea of self-guided showings is not new, but technology now allows us to move from a traditional lockbox at the property to a secure electronic lockbox with automated ID verification of the prospective tenants.
According to LetHub, continuous showings have increased from half to more than 60% of all showings. They also claim that a recent industry report indicates 31% more visits to self-showing properties. Although I did not see the source for these claims, FYI.
The benefits of contactless showings for renters and for landlords boil down to convenience and time savings. 25% of participants in a study reported taking time off work to search for an apartment. Another study reports that four in ten people have passed on an apartment because they couldn't find time to see it, and 27 percent prefer to take a self-guided tour with no leasing agent.
You may be a landlord with a couple of units nearby, or perhaps you are far away. Going through the trouble of offering self-guided showings is worth it more for some people than others. You will need to make sure you or someone else you trust can go to the property if the lock breaks, there are technical problems, or the wrong person goes in.
Security might be a concern for many, and that makes perfect sense. Let's get this out of the way. Nothing is going to keep the property and access safer than a person performing the walkthrough alongside the potential tenant.
In my personal experience, I have never had keys lost, someone unwanted accessing one of our units, theft, or property damage. There was only one occasion where a person did not properly close the lockbox after finishing the viewing, but luckily the next person who had scheduled just an hour later caught on and made sure to shut the lockbox before letting us know. We made sure that our instructions provided via email after scheduling were clearer from that point forward. Now you may see why I recommend having someone who can drive by the unit if you can't be there.
I recommend you look at your particular situation and judge yourself. In my opinion, it's almost always good to offer automated showings, and that's why the property management companies I have worked with are still doing it years later.
I suggest that you start by choosing a good system first and then choose a lockbox that is compatible with that system since all lockboxes, in principle, work the same way.
Let's take a look at the best software and lockboxes to automate your showings:
Below is a list of the most popular software for self-guided showings. I have listed some of the most relevant features each platform offers, but they all have so many features that I decided to only include those features that each service provider promotes more than others since you can get an idea of what their customers are using them for.
Some of the features are only included depending on the plan you sign up for.
I recommend you take your time to compare yourself and choose what's best for you based on flexibility, price, or features. I don't think there is a "best of" all software. Some people will just find one that works better for them than the others.
Plans start at $29/month with three concurrent listings included, and you can add additional listings for $9 each.
You can look at their different plan options here. There are different options for those who manage less than 40 doors, people managing over 40, independent leasing agencies, and people with really low volume.
$50 minimum subscription, $1 per unit residential under management. Click here to learn more about their pricing.
I was not able to find their price, and it looks like you have to inquire for them to give you an offer. You can use this link to request a demo of their product.
It costs $20 per listing, but there are a minimum of five listings per month. So, if you have less than five active listings per month, you would be paying a premium. You can visit their pricing page here.
Although I have not personally used Showdigs, it looks pretty robust, especially if you are managing a large portfolio of properties. They have a network of agents and photographers in some markets to help with renting your properties. If you want something easy, you have consistent listings every month, and you want easy set-up and support, this one is worth taking a look at. You are free to take a tour of their platform if you visit their website.
LetHub plans start at $1/unit per month. Onboarding charges start at $299, and annual plans start at a 15% discount.
As I mentioned before, the features of each platform are more than what I mentioned, but I chose what to write depending on what seems more relevant for each service. I still encourage you to get out there and compare these services for yourself, since each use case is different.
They all seem to offer the same important features, like automatic responses, surveys after the showing is completed, sending a link to the application website, managing scheduling hours, and website widgets.
So, in my opinion, look for what makes them different. For example, if you don't list properties every month, go for the cheapest alternative; the extra nice features some platforms offer may not make a huge difference to you.
On the other hand, if you are a company that has active listings every month, then consider what your team members will find easier to use and communicate with each other, or something that allows agents to manage leads more effectively might be a better option for you.
Online tours are becoming as important as in-person inspections. Traditional in-person walkthroughs are being replaced by options such as online photos and virtual tours. – Entrata