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August 13, 2020,
Renting an apartment or home, as opposed to owning one, has often been a challenging prospect.
Some would say an undesirable one.
The rents can go up. You can get evicted. You don’t gain equity.
Once the coronavirus pandemic hit, it still is a challenging market but, at times, an innovative one as well.
As reported by dailyrecordnews.com, “The nation’s two most expensive housing markets are seeing prices fall and homes linger on the market – Urban and suburban areas of the U.S. have largely seen similar trends in key housing indicators during the coronavirus pandemic.”
That at face value seems like good news.
If houses stay on the market long enough, they tend to turn into rentals.
It’s hard to look for rentals during sheltering in suggestions and mandates.
Of interest is that more and more potential renters are taking online virtual tours to see where thier next place of residence may be.
Three D showings are catching on.
A 3D showing is a virtual tour providing prospective tenants or buyers an online showing allowing them to see each room as if they were actually there.
Virtual tours are in contrast to listing videos, where the landlord or property manager does their own walk-through of the home, pointing out certain features while recording video on a recording device.
The team at dsnews.com shares, “Virtual tours offer home searchers the ability to understand the size and layouts of vacant rentals. Skyrocketing in popularity, Zillow saw a 536% increase in Zillow 3D home tours in March. Zillow specifically reports that in the SFR space a 3D tour attracted 40% more visitors and drove 50% more saves compared to listings without a tour.”
Makes sense.
Innovation is always important during unprecedented times.
Apparently Landlords responded to the stay-at-home restrictions with a surge in virtual tour offerings.
Potential renters appear to feel it is a great idea as well.
More than 70% of Renters Would Lease an Apartment Sight-Unseen Thanks to 3D Virtual Tours
Zumper Teams Up with Matterport to Bring the Latest 3D Technology to Virtual Renting
‘Virtual Signature’ Package Helps Property Owners Respond to Renter Demand for Fully Digital Leasing Experiences Amid COVID
SAN FRANCISCO, Aug. 13, 2020 /PRNewswire/ — The new normal for renting an apartment is now a fully digital experience, with both renters and property owners agreeing it is the fastest and safest way to rent during the COVID pandemic and beyond. Renters are becoming so comfortable with renting digitally, that 72% say they would rent an apartment without ever seeing the property in person if a 3D virtual tour was offered, according to a recent survey* conducted by Zumper and Matterport.
To support this demand, Zumper, the largest privately-held rental marketplace in the U.S., has partnered with Matterport, the industry leader in 3D capture and spatial data, to take virtual touring on Zumper to the next level by providing state of the art technology for 3D floor plans (or Dollhouse View). These virtual tours are accessible from anywhere, anytime, on any device – essentially, a 24/7 open house where potential renters can explore as long as they want, at their own pace.
With 3D virtual tours, viewers can measure with 99% accuracy the size of each room, even providing the ability to digitally measure walls, doors, windows or furniture. Dollhouse view allows viewers to see how the rooms in the house are laid out and truly feel the flow of a space as if they were there in person.
“At Zumper we have created a fully digital end-to-end solution for both renters and property owners, and partnering with Matterport was the next natural step to enhance our offerings,” said Anthemos Georgiades, CEO and Co-Founder of Zumper. “This partnership offers multi-family property owners the best technology available, at a third of the price, with complete flexibility for maximum engagement.”
When Zumper customers purchase the Virtual Signature package, each property will be scanned in 3D to gain full access to Matterport’s suite of features, which include: 3D virtual tours that include multiple Dollhouse and Floor Plan views, five exterior 360° panoramas, 4K print-quality photos, dimensionally accurate 2D schematic floor plans, as well as guided and video tours, along with highest priority rental listing placement.
Most notably, Zumper customers have free access to share their Matterport content on any platform, including all the major social networks, to advertise their property. This ability is completely unique to Zumper as all other listing platforms limit sharing.
As renters and property owners look for resources to rent as safely and quickly as possible, Zumper and Matterport conducted a survey, finding that virtual tours have a massive impact on owners’ abilities to lease their properties and renters’ confidence in signing a lease. Some highlights include:
- 82% of property owners that have advertised with a 3D walkthrough were able to rent their property entirely virtually
- 99% of property owners say that potential renters would be more interested in a listing that offered a 3D virtual tour over one that didn’t
- 98% of property owners say 3D virtual tours would give their listings an improved competitive edge
- 95% of renters would be more likely to rent a property with a 3D virtual tour on the listing site
- 90% of renters would be more interested in a listing that offered a 3D virtual tour over one that didn’t
“We’re proud to provide Zumper customers with the 3D virtual tours that will enable them to make a confident decision about where to live,” said Robin Daniels, CMO of Matterport. “The ability to quickly, easily and safely explore apartments will be integral in navigating the process of finding a home. Not only can renters get the important information and understanding of a space with Matterport 3D virtual tours, but property owners can reach more potential tenants by offering them to work around the limitations of in-person showings.”
For multi-family property owners interested in utilizing all the benefits of this new partnership, please visit https://signup.zumper.com/matterport
To see an example of a Matterport 3D virtual tour, please visit:
https://my.matterport.com/show/?m=RsKKA9cRJnj
About Zumper:
Zumper aims to make renting an apartment as easy as booking a hotel. With over 14 million visits every month, Zumper’s free online and mobile rental search marketplace has become the largest startup in the industry. Headquartered in San Francisco, Zumper has 200 employees across the U.S. and acquired PadMapper in 2016. The company has raised a total of $140 million in funding from investors including e.ventures, Greycroft, Dawn Capital, Kleiner Perkins, Goodwater Capital, Axel Springer, Stereo Capital, the Blackstone Group, Breyer Capital, Foxhaven Asset Management, Andreessen Horowitz, Greylock, NEA, CrunchFund, xfund, Divco West, MMC Technology Ventures, Scott Cook, and the DeWilde Family Trust. Learn more at Zumper.com or email press@zumper.com.
Interested in joining the Zumper team? Check out open positions here.
About Matterport:
Matterport is the industry leader in 3D capture and spatial data with a mission to digitize and index the built world, and advance the way people interact with the places they inhabit and explore. Matterport’s all-in-one 3D data platform enables anyone to turn a physical space into an immersive digital twin and share it with others to connect and collaborate in 3D. The Matterport platform helps thousands of customers in 130+ countries realize the full potential of a space at every stage of its lifecycle including planning, construction, appraisal, marketing and operations.
Learn more at matterport.com, browse a gallery of digital twins, or explore a curated global collection of 3D spaces at Destination : Everywhere.
Follow Matterport on Facebook, Twitter, LinkedIn and Instagram.
All trademarks and product names are the property of their respective companies.
SOURCE Zumper
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