Asynchronous & Frictionless Leasing for Your Prospects

Kristi Stevens

12 minutes read

Your Guide to Virtual Leasing Agents 

Okay, let's be real – the apartment industry is in the midst of a digital revolution, and virtual leasing agents (VLAs) are at the forefront of this transformation. These AI-powered digital agents are changing the way property managers and leasing agents interact with prospective tenants, streamlining processes and boosting efficiency. Virtual leasing agents (VLAs) are seriously shaking things up, and they're the key to making your leasing process way more efficient.

So, What the Heck is a Virtual Leasing Agent?

Think of a VLA as your digital leasing agent capable of handling most of the common tasks done by an on-site Leasing Agent. They handle all the basic stuff – answering questions, scheduling tours, even figuring out if someone's a good fit – all without you lifting a finger. 

Why You Should Care About VLAs

  • Your New 24/7 Teammate: VLAs never sleep! They're ready to help potential renters anytime, so you never miss out on a lead. Did you know that over 50% of rental inquiries come in outside regular business hours? A VLA makes sure you capture those leads.
  • Pre-Qualified Leads: VLAs can ask questions to figure out what a prospect is looking for, saving your team precious time.
  • Tours Made Easy: Prospects can book their own tours (in-person, virtual, or Facetime), making scheduling a breeze.
  • Virtual Tours Anytime: Some VLAs can even let people jump into a virtual tour of model floor plans and amenities right away. Talk about immersive!
  • Goodbye to Lost Conversations: Most VLAs keep track of everything from interested floor plans to their original marketing source, so your team can follow their journey from a lead to a signed lease.
  • Save Some Cash: Think about it – fewer late nights for staff and less time on routine stuff means money saved. The exact amount of those savings will depend on factors like your property’s size, current staffing costs, and the specific VLA you choose.

    To get a realistic idea of the potential savings for your property, try to find case studies from VLA providers that feature properties similar in size and resident demographics to yours. For example, if you rent primarily to students, look for virtual leasing agent case studies highlighting properties with a similar renter profile. This will give you the most relevant comparison.  
  • Happier Renters: People love the convenience and frictionless experience. They get help on their schedule and get to explore apartments at their own pace.

See what we mean? This is a game-changer, and apartment owners are definitely taking notice. In fact, a recent report from Buildium found that property managers are upping their tech budgets and seeing a massive 68% jump in operational efficiency with smart tools like VLAs!

Ready to jump into this exciting world of VLAs? Let's take a look at some of the players in the market.  Each offers a variety of solutions, unique strengths, and different pricing models.

Let's briefly examine some noteworthy players:

  • LeaseLeads: They offer a video-powered leasing agent with a wide range of marketing capabilities. Their product offers walkthroughs of model floor plans, amenities, and also allows users to see available specials, schedule an in-person tour, and find available floor plans. For operators and marketing teams, they’ve incorporated a lot of compelling features in the backend to capture lead sources, show the number of leases signed from their product, and much more.  
  • BetterBot: An AI-powered leasing assistant that automates routine tasks, answers inquiries, and schedules appointments. It's designed for ease of use and efficiency in mind.
  • PERQ: This marketing automation platform utilizes AI, nurture campaigns, and website chatbots to capture and convert leads. PERQ's seamless integration with other property management software is an advantage.
  • Realync: This is a video-centric platform that empowers renters to take virtual tours, ask questions, and even sign leases remotely. Property managers use Realync to personalize their communication.
  • EliseAI: This AI platform offers comprehensive property management support, including answering questions, scheduling tours, automating reminders and payments, and streamlining communications.
  • LeaseMagnets: Provides a virtual leasing concierge service, offering automated tours (both standard and live guided) and tools to streamline the path from website visitor to signed lease.

Picking the Perfect VLA Partner

Choosing the right VLA is all about finding what works best for you.  Here's what to keep in mind:

  • Features: Do you just need a tool to answer basic questions, or do you want advanced stuff like AI to pre-qualify leads?
  • Aesthetics and UX: Let’s face it, some bots are more aesthetically pleasing than others. Find a solution that aligns with your property brand and core values.
  • Price & Growth: Does the price tag fit your budget? Can it scale easily if your company grows?
  • Integrations: The smoother it works with your existing software, the better!
  • Support: You want a company that will have your back if things get tricky.

What to Avoid:

  • Don't Ditch the Personal Touch: VLAs are awesome, but remember, some people still crave that human connection. Make sure your team is ready to jump in with personalized follow-ups once the VLA has done its part.
  • It's Not a Set-and-Forget Thing: Think of your VLA like a plant – needs a bit of attention! Keep checking in, tweaking the videos/messages, and making sure it's helping you hit those leasing goals.
  • Integration is Everything: You want your VLA and property management software to be BFFs. This way, no leads slip through the cracks. Don’t settle here for anything less than what your Property Management software API has to offer. 
  • Train Your Team! Don't leave your team in the dark. Show them how to make the most of the VLA, handle follow-ups, and deal with any tech hiccups.

What to Remember:

  • Know What You Want: Is your VLA there to generate more leads or book tours? The clearer your goals, the better your VLA will perform.
  • Data is Gold: Your VLA likely collects a ton of info on what renters are looking for. Make sure your offer provides that data and uses it to your advantage!
  • Stay on Brand: Make sure your VLA's tone, messages, and even its visual look match your property's vibe. A consistent experience – from custom brand colors to the way the VLA greets prospects – is key to building trust.
  • Teamwork Makes the Dream Work: Your VLA is like a tireless new member of your leasing team. When everyone's on the same page, that's when the magic happens!

Spotlight: Why LeaseLeads Might Be Your Dream Team

Since we're talking about finding the right fit, let's focus on how LeaseLeads stacks up:

  • Beyond Just the Basics: They offer 24/7 availability, lead to lease data (for select software), tour scheduling... and also offer nice features like automated follow-ups and source-attributed leads. 
  • Help When You Need It: They offer great onboarding, tutorials, and unmatched support.

Want Proof? Check Out LeaseLeads Case Studies!

Okay, let's talk results! LeaseLeads clients are seeing some awe-inspiring numbers:

  • Way more leads and applications: Think of a 30-50% jump! That's a lot more potential renters interested in your place.
  • Slashing those operational leasing costs: We're talking 10-20% savings. Think about all the extra money you could put back into your property.
  • Happier residents all around: LeaseLeads says their clients see a boost in resident satisfaction. Happy renters are more likely to stick around, which is great for everyone!

When exploring your options, consider LeaseLeads' comprehensive solution. It provides features, scalability, integrations, and dedicated support designed to empower your property management with a highly efficient virtual leasing agent. While LeaseLeads is a strong contender, it's important to conduct thorough research to ensure you find the best fit for your specific requirements.

Your next step…

See how LeaseLeads can take your leasing to the next level. Book a demo to see it in action!

Kristi Stevens

Content strategist - My mission is to fuel the growth of the multi-family industry by crafting impactful blog content and innovative solutions.


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