PlanOmatic, a leading provider of quality photos, floor plans, and 3D to the single-family rental (“SFR”) industry with speed and at scale nationwide, today released a new video titled “Resilience.” The video aims to inform SFR property managers and investors that despite a challenging economic climate when many companies are tightening budgets, investing in visual content for marketing efforts, such as property photos and 3D tours, can actually yield a positive return on investment (ROI) for SFR properties.
“As a partner to SFR property managers and owners, our goal is always to help our clients market and lease their properties faster through the use of quality visual content, but it’s even more imperative during challenging economic times like today,” said Kori Covrigaru, founder and CEO of PlanOmatic. “Our studies have proven time and time again that the use of professional photos and 3D tours to market SFR properties results in faster leasing and higher rental rates. SFR companies shouldn’t be cutting back on these types of budgets right now, they should be investing in quality visual content to increase the ROI on their property portfolio.”
Quality Photography Increases Rental Pricing
PlanOmatic recently conducted a study to assess whether professional photography used to market vacant homes had a positive impact on leasing. The study analyzed 500 SFR homes that were listed for rent in September and October 2022 and compared properties with good-quality photos versus properties with low-quality photos.
When good-quality photos were used, the study found:
- Days on market decreased by 10.9% when good-quality photography was used to market the home, compared with homes that used low-quality photography.
- Rental price/sqft increased by 10% when good-quality photography was used to market the home, compared with homes that used low-quality photography.
3D Tours Increase Leads for SFR Properties
PlanOmatic also conducted a 3D tour study in partnership with ResiHome, a division of RESICAP, and a leading property management company and provider of high-quality, single-family rental homes nationwide. The study measured the impact of 3D tours, specifically lead generation, for SFR property marketing across ResiHome’s Atlanta and Dallas portfolios.
The study revealed the following:
- Leads per property increased when a 3D tour was used as part of the listing. In Atlanta, leads increased by 48% when a 3D tour was used, and in Dallas, leads were 23% higher when a 3D Tour was present.
- Days on the market until the first application was submitted were 36% lower in Atlanta for property listings with a Zillow 3D tour.
- Atlanta properties with a 3D tour resulted in a slightly higher percentage of applications versus listings with only photos and a floor plan.
“As the SFR market continues to become even more competitive, property owners, investors, and management firms should continue to take advantage of 3D tours to attract and capture the interest of consumers online,” added Covrigaru. “The results from our study with ResiHome show firsthand how leveraging 3D tour technology can increase and speed up property leads and applications.”