As demand for self-touring of rental properties continues to grow, the ease with which prospects are able to access your property matters.
Choosing the right self-touring technology can help you create a successful property showing experience and increase tour activity in general.
Kingsley survey data shows that 86% of renters want to tour a property before signing a lease and overall tour activity increases by 25% when self-touring is an option. A recent Rentcafe poll reported that 83% of renters would embark on a self tour of a property even if an online virtual tour of the same property is available.
Rently offers various property access products for self-touring. All of our solutions offer expanded viewing times for renters while still providing property managers the security and control they require.
Rently partners with industry-leading hardware manufacturers to offer customers a choice between traditional lockboxes or pushbutton or touchscreen locks, with keyed or keyless options.
Rently’s innovative self-touring technology integrates seamlessly with each option. Use the following product comparison to help you understand the different benefits of each so that you can choose the one that best fits your property profile and property management requirements.
Rently’s Classic Lockbox
Rently’s classic lockbox is an excellent immediate-use product for properties with traditional keyed entry or properties with physical constraints that prevent installing digital locks.
With Rently’s classic lockbox, there is no need for any property modification. Thanks to its simplicity, property managers can quickly move lockboxes between properties or units.
Renters receive a one-time access code to retrieve the keys from the lockbox attached to the front door (or wherever managers want to place the lockbox). Once prospects have completed their self-tour, keys are simply replaced in the lockbox. Rently then sends prospects a feedback form for further follow-up by managers.
Lockboxes offer a quick, turn-key solution for low-tech properties just looking to increase their showings by offering expanded viewing possibilities.
Rently SmartLock 2
If you wish to eliminate the hassle of maintaining and storing physical keys and lockboxes, the Rently SmartLock 2 digital lock offers a sleek, Wi-Fi-enabled, touchscreen lock that is easily mounted on standard-size doors.
Rently SmartLock 2 is ideal for property managers who seek a more secure self-touring experience. Digital locks eliminate concerns about key theft. And, property managers do not have to rekey for each new tenant, an average cost-saving of $50 per unit turnover. Once leased, smart locks can be used by both residents and managers to create durational codes for service vendors and guest access.
Digital locks also offer enhanced sales opportunities because they are rapidly gaining popularity among the fastest growing category of renters, the Millennial generation. The National Apartment Association has reported that 55% of millennial renters would pay more for a unit with an electronic lock.
Replacing traditional lockboxes with smart locks is a simple way to begin the transformation of any property into a smart home property. It only requires a modest initial investment and the streamlined property access experience makes an ongoing positive impression on renters.
Rently Smart Home
As managers and prospects alike experience the ease and added security of keyless digital entry, the lifestyle benefits of additional smart home technologies become more apparent.
Rently has fully embraced the smart home trend in the rental property industry by integrating our self-touring technology with our full suite of smart home products. Combining keyless locks with other smart home products, such as motion, and window & door sensors, provides extra security for self-guided tours and enhances the renter experience beginning-to-end.
Rently’s Smart Home Solution automates many critical property management functions such as access control, real-time security monitoring, energy management, and damage prevention.
Central to the Rently Smart Home solution is its patented Smart Home Hub which wirelessly links all devices through flexible tri-band (Wi-Fi, cellular or Ethernet) connectivity. Introduction to a Rently Smart Home is best made by purchasing the “Essential Kit”, which includes the Rently Hub, smart lock, and smart thermostat.
Once those essential elements are installed, customers can choose additional smart devices, such as video doorbell cameras, motion and window & door sensors, light switches/outlets, water leak detectors and smoke/CO alarms. Rently’s smart home software is compatible with all Z-wave enabled devices, and, if you already have smart devices installed, no retrofitting is required.
Rently’s Smart Home products can be purchased individually, in functional kits, or as a comprehensive suite. Whatever your property needs, we have a solution to fit.
Regardless of property type, Rently Smart Home products demonstrate an impressive 30% return on investment achieved through resident retention, accelerated conversion rates, and increased rental rate potential. Add to that a 20% annual utility cost reduction, significant leasing operation savings, a 5-20% reduction in insurance premiums, and a 70-90% decrease in water damage expenses. Overall, the cost-benefit proposition of upgrading to a Rently Smart Home solution is a welcome calculation!
Rently’s Smart Home technologies often make the difference between an average or a top-tier property rating. What begins as a powerful and cost-reducing remote property management tool for operators, easily converts into a valuable new amenity bonus for residents.
Conclusion
With so many property access options available, it’s best to choose a solution based on your unique property characteristics and your management preferences.
Lockboxes work well for managers who want an easy to deploy solution with ultimate flexibility. Rently SmartLock 2 is a more permanent option for managers looking to streamline prospect and resident access, while reducing operational costs associated with key and lockbox management. Smart Home is the completely connected solution that enables fully remote property management and ultimate amenitization. All options utilize Rently’s innovative self-touring technology and benefit from world class customer support.
Schedule a consultation with our team to determine which hardware option is right for you and your portfolio.
