There is no better feeling than having signed tenants for your new community prior to its completion. To make that a reality, property owners must embrace 3D residential renderings as the backbone of their pre-leasing marketing efforts.
At the end of the day, the goal is to have tenants commit to a rental unit during this crucial stage in development, and real estate renderings are making that happen for multifamily and senior housing providers.
The harsh truth is that pre-leasing is going to make or break the early stages of your community, but starting out on the right foot will set you up for long-term success.
Let’s break down the challenges that can slow pre-leasing efforts:
These are just a few common challenges most communities face, but thankfully 3D residential renderings have the power to boost your pre-leasing marketing strategy.
Related: How to Capture More Deposits in the Lease Up Phase of Senior Living Construction
3D renderings that immerse users into a virtual space are much more likely to increase velocity of sight-unseen leases. This may include a 3D virtual tour, 3D virtual reality or a 3D interactive site plan.
Let's break these down:
Each of these 3D rendering solutions are ideal for different use cases. For instance, a 3D virtual tour is a great asset for your website, a 3D virtual reality experience will draw traffic to a temporary pop-up leasing office, and an interactive site plan is a powerful leasing tool to view units available in real-time.
To have these pre-leasing tools working in unison is the ultimate 3D dream team. These renderings will give users a holistic and realistic experience of a community, helping prospects understand space orientation and the overall feel of your community.
Below is an example of a 3D virtual tour in action. You can experience the entire tour here.
In general, virtual tours have become much more popular in multifamily and senior living in recent years. They've even proven to boost senior living SEO efforts.
When it comes to increasing your online presence during lease-up, it may feel like you're at a bit of a disadvantage, but you don't have to be with 3D content. You're much more likely to engage and convert users with marketing tools that let prospects drive their own experience.
According to Realtor.com, listings with a virtual tour get 87% more views than listings without a tour. Think about the placement of your online listing for a moment. It’s shuffled in with a multitude of pre-established communities. A 3D virtual tour of your community is going to increase clicks to your listings and push qualified prospects further down the conversion funnel.
What’s more, the National Association of Realtors has found in their annual reports that 54% of buyers will not look at a property unless it has virtual images and 50% found virtual tours very useful in their decision.
So without 3D plan in your pre-leasing marketing strategy, you could be missing out on capturing valuable leads and converting those leads into deposits.
Two-dimensional floor plans have had their share of popularity, but with the advancements in 3D technology, 3D floor plans triumph in pre-leasing.
Because of today's high-tech capabilities, 3D residential floor plans boost better sales. Here are just a few reasons why:
If your pre-leasing efforts don't include 3D floor plans, you're potentially missing out on engaging users when it matters most.
With photorealistic 3D renderings in your pre-leasing toolbox, you instantly increase your credibility. Not only will you offer a truly unique experience to future tenants, you will increase your sales process to boost engagement and keep deposits funneling in before your community even opens its doors.
At LCP360, we specialize in creating photorealistic 3D visualization to help increase sight-unseen leases in multifamily and senior living. Contact us to learn more about how we can improve your pre-leasing efforts.