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Are Virtual Reality Tours The Next Big Thing In Student Housing?

Are Virtual Reality Tours The Next Big Thing In Student Housing?
Since 2003, one of our key recommendations for landlords looking to enhance their online rental listing has been great photography. Photography has been a staple in the multifamily rental industry for well over a decade now; but it may find itself eventually replaced by virtual reality tours and 3D floor plans.Student housing is a prime market segment that is likely to be at the frontier of virtual reality tours, especially as they become increasingly more affordable, accessible and easy to facilitate. Virtual reality tours go a step beyond photos and video, whereas they allow for an immersive and interactive experience for student renters, without leaving the comfort of their current home. Out-of-state or out-of-country students typically cannot arrange for in-person tours of accommodations, which is where virtual reality triumphs.So will virtual reality tours be the next big thing for marketing in student housing? The current market environment would lead us to believe so.There are already a handful of major student housing players that have adopted and started to implement virtual reality tours including:   Domus Student Housing Campus Suites Varsity Properties Campus Life & Style Campus Apartments   UForis VR that works with Domus Student Housing conducted a case study on the units they equipped with VR tours and saw a 20% increase in year-over-year monthly number of units rented. In addition, Domus Student Housing saw a significant decrease in workload for their leasing agents and estimated that it resulted in 40-50% less work.Even on-campus housing properties are taking an interest in VR, as MacEwan University Residence has......
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