Answering the Call for Operational Efficiency
In the throes of the COVID-19 pandemic, demand for self-guided touring solutions grew exponentially as renters sought safer, more flexible options for visiting properties. But it quickly became clear that self-guided tours would have staying power beyond the pandemic.
After all, not only did self-guided touring platforms offer a means of exploring apartments while maintaining social distancing, they also provided prospective renters with more flexibility to visit available units on their schedule — offering self-guided tours outside typical office hours, and on weekends and holidays. And beyond the benefits to renters, self-guided tours also offer multifamily operators other benefits.
To navigate today’s complex business landscape, operational efficiency has become essential, with many property managers seeking solutions that reduce their operational costs. By reducing the responsibilities of staff — freeing them to work on other critical projects — and associated costs, self-guided tours allow property managers to allocate resources more effectively.
A More Flexible, Convenient Touring Experience
These ongoing shifts — and the large number of multifamily owners and managers moving toward centralized operations — led to RET‘s most recent investment in Tour24.
Tour24 is a best-in-class self-touring platform that provides prospective tenants with curated tours of apartments and amenities spaces. Through the pre-recorded audio tours, leasing agents can highlight key property features without being present, creating an interactive, innovative experience that’s easy to navigate, customized to the prospects’ location within a property and attractive to younger renters.
For example, owners who want details about state-of-the-art kitchen appliances or a fitness center can customize the tour and audio guide to emphasize these features as residents view the space.
Tour24’s platform also provides multifamily owners and operators with data on tour performance and insights into the most inquired-about features of a property, facilitating more targeted follow-up after the tour.
What’s Next for Tour24
In less than five years since it was founded by Georgianna Oliver in 2020, Tour24’s technology has gained significant traction, and it now serves 525,000 units across 2,065 multifamily properties in the United States including properties owned by several RET strategic investors including GID, Berkshire Residential Investments, Highmark, AMLI Residential, and LCOR. Critically, Tour24 also integrates with property management systems, fitting seamlessly into operators’ tech stack.
Tour24’s proven track record of providing a best-in-class technology that generates a strong ROI for multifamily owners and operators solidifies our confidence in its continued potential, and we’re excited to support its expansion across the market.