Pre-leasing can make or break the success of a new apartment community, especially in today’s competitive multi-family market. Adding assets like 3D modeling, virtual tours, and interior renderings allow developers, property managers, and real estate marketing leaders to create more interest in their properties before the construction process is complete.
By using these tools in your marketing plans and content you are able to connect with future renters and give them the visual information they need to make a decision on whether or not your property is the right fit for them at an extremely pivotal time in their buying journey.
1) Why Would I Want a Virtual Tour or Interior Rendering?
The obvious answer here is that it is literally impossible to showcase what your spaces will look like without these assets while your property is being built.
3D floor plans, virtual tours, and interior renderings give you access to digital assets that can accurately and effectively present your property's key features when it is physically impossible to show them.
2) What Makes a Good Virtual Tour or Interior Rendering?
Accuracy. The purpose behind creating these assets while your property is still in the construction or developmental phase is to accurately present what the interiors and exteriors of your spaces and units will look like. The idea here is to be as close to a real photo or video as possible. Having photo-realistic visuals ensures that what future renters are seeing matches what they will see when construction is completed.
Virtual Tours and rendering pricing can range from hundreds to thousands of dollars per image or tour. Some solutions are out of the box, meaning you have a limited number of selections, finishes, and furniture you can pick from for your 3D modeling assets. While these out-of-the-box solutions may be great from a pricing standpoint, the odds of them being able to represent your space accurately is extremely unlikely, as there are limitations in how closely they match your property's finished look.
On the other hand, there are completely custom solutions. This means that all of your materials, finishes, furnishings, etc. are created from scratch and modeled with precise accuracy. This allows for the final renderings and tours to accurately mimic what your property's final spaces will look like when construction has been completed.
3) Can I Create a Virtual Tour or Rendering Myself?
In short, the answer is yes. However, creating an accurate and effective virtual tour or rendering requires a degree of technical experience and skill typically held by professional architects and interior designers. Both the modeling software that it takes to convert 2D files into 3D images and the rendering software that it takes to produce photorealistic visuals can be extremely complex to use. This is why we recommend outsourcing the actual execution of this project to a professional rendering or 3D modeling firm that specializes in apartment renderings and tours. As long as your construction plans are finalized (or close to it) you have all of the information you need to pass along and get the process started.
4) When is the Best Time to Add Virtual Tours & Renderings to Your Portfolio?
The timing of adding these assets varies and is dependent on your team's pre-leasing goals, marketing plan, and construction schedule. Our team at Elevate Creative Real Estate recommends having these assets finalized 60 - 120 days ahead of your property's first scheduled move-in date or when "hardhat" tours begin. This time frame typically means the blueprints have been finalized and your property's leasing team is able to withstand inquires. Additionally, it gives future renters enough time to connect with your spaces, but not so much that they lose interest while the property is being built.