In an increasingly challenging market, property owners need to use every tool at their disposal to minimize vacancies and attract the best prospects.
One of those tools is self-showings. At Nickel City Property Management, we’ve been using this strategy for the last five years, and we’ve found it to be effective at increasing the amount of prospects that see an apartment and reducing time on market for those units.
In alignment with our triple win methodology (read more on that here), it simultaneously benefits owners, prospects, and the management company.
What is Self-Showing?
In self-showings, prospects are able to access the unit at a time that’s convenient to them, without needing to coordinate schedules with a leasing agent — they can book a time that works for them, which speeds up the process.
Our system uses Bluetooth dead bolts, so there are no keys involved with the process. The software has a number of safety checks — like identity verification and entry codes that only work during a scheduled showing window — so that access is controlled. We receive logs of every access, which allows us to follow up after each showing.
The Benefits
For renters, self-showings offer convenience and flexibility. Some prospects work nontraditional hours or feel more comfortable touring a property privately. Having flexibility to view the property on their terms can result in more prospects getting to view a unit and more completed applications.
For owners, self-showings mean that your property isn’t sitting empty while leasing agents try to coordinate a time with a prospect. More showings means that you’re more likely to find a qualified tenant and fill that unit.
For the management company, self-showings are a huge help in terms of efficiency. We’re able to focus time and energy on other parts of the screening process — like screening and following up with prospects.
There’s also the added benefit that self-showing software tracks real-time data about interest and feedback in the unit. This data helps us quickly understand the market reaction to the unit and the pricing.
A Triple Win
Some of our owners have been able to nearly double their amount of showings and decrease the time the unit is on the market. For us, self-showings have been an incredible solution that benefits everyone involved in the process.
In a rapidly evolving and competitive rental market, efficiency is key. Self-showings help us reduce vacancy time, attract high-quality tenants, and give renters the convenience they want — all while keeping owners informed and secure.
