AppFolio surveyed 1,000 renters to find out what they expect from leasing and property management teams during their housing search — and how those expectations have changed since the onset of the COVID-19 pandemic. Discover the biggest insights from our new research, and learn what renters prioritize most.

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Stacy Holden
Meeting Renters’ Expectations
With Virtual Leasing
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2. 2 2020 © AppFolio, Inc. Confidential.
Stacy Holden
Senior Director & Industry Principal,
AppFolio Inc.
Your Photo Here
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Today’s Agenda
● What have we learned?
● Improving the housing search experience
● Virtual leasing experience with Appfolio
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Right now, what is your biggest challenge with leasing?
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Poll

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Spring 2020: Property Managers’ Top Tech
Challenges
Source: AppFolio survey of Property Managers,
April 2020
“What technology-related
challenges are you having in
the current situation?”
Leasing Impact:
● Completing tasks
remotely
● Process-related issues
● Poor user experience
● Access issues

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of Americans have moved or
permanently relocated in the
past six months, or are
considering doing so in the
next six months.
22%
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The Pandemic Has
Affected Housing
Decisions
Of those said that a top
reason was to move away
from an area impacted by
COVID-19
1 in 3
Source: Marketplace-Edison Research Poll

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US Census Data in 2019 showed:
● Approximately 10% of population moves
each year
● 80% of moves were within the same state
● Florida, Texas, and California were the top
states people moved to
Source: Moving.com
Migration & Moving Trends
Before COVID-19 During COVID-19
This year, higher population states saw the
most outbound migration:
● San Francisco, CA and New York, NY had
80% more people leave than move in
● Florida, Idaho, and Arizona all saw more
move-ins
Source: Hire a Helper Report: Where
Americans Are Moving During The COVID-19
Pandemic

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Renters
Preferences Have
Been Influenced
“Is the pandemic changing/has it changed your preference for
where you live? Check all that apply.”
Source: AppFolio Renter Survey,
October 2020

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Response Time Drives Conversion
Source: AppFolio Property Manager

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Prospective Renters Need Options
“If you signed a lease for a new
apartment during the pandemic,
did you view the unit in-person or
virtually?”
● Renters value having the
option to view a unit virtually,
but many prefer in-person
showings as well.
Source: AppFolio Renter Survey,
October 2020

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Virtual is Here to Stay
“In the future, after the pandemic
is no longer a threat, if given the
option to view units virtually or
in-person, which would you
choose?”
● 40% want virtual showings as
an option
● Another 13% say they prefer
virtual
Source: AppFolio Renter Survey,
October 2020

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Said the application process
was easy.
Only 47%
Apply for a rental: 46.4%
Sign or renew lease: 48.5%
View details of unit: 31%
Renters Want to Complete Tasks
Online/Mobile:
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Opportunities to
Improve
Use online & mobile tools to
streamline applications & leasing
Source: AppFolio Renter Survey, October 2020

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To capitalize on the
demand that is out there
now, focus on providing
service and flexibility
during the housing search
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Ways to do this:
● Make it easy and fast for them to get info
● Drive demand with virtual showings
● Provide offline and online options
● Streamline applications & leasing

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Better the shopping
experience

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Create Demand
• SEO optimization
• Revenue Management
• Leasing Assistants

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16
AI Has Arrived
AI gives distinct advantages to multifamily
leasing operations.
• Responds to prospects 24/7 x 365
• Optimizes the experience for every prospect in
your pipeline
• Provides stability in times of distress

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• Interactive Sitemaps and
3D Tours increase
engagement and boost
interest pre-tour leading
to more qualified tour
appointments
Solidify Interest

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Make Next Steps
Seamless
• Online Application
• Online Lease
• Online Payments
• Smart Homes

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Virtual Showings

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Are you currently providing virtual showings for prospective
renters?
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Poll

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Property Managers Have Relied on
Virtual Showings
53%
“What technology have you
increased your dependence on
during this time?”
● Virtual Showings: #1 answer
of property managers have
increased their dependence
on virtual showings during
COVID-19
Source: AppFolio survey of Property Managers,
April 2020

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56% 80%
of renters who have
signed a new lease
did a virtual showing
Of them were
satisfied with the
virtual showing
Renters Find Value in Virtual Showings
Source: AppFolio Renter Survey, October 2020

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Maintain Momentum
• Self-guided tours
• Live video tours
Place your screenshot or image
here.

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Virtual Showings
Also Benefit
Property Managers
● Wider market reach: Capitalize
on demand from renters
moving from a new area
● Many younger renters planning
to more are able to work
remote, can be
location-independent
● 26% of survey respondents
wanted to move to a less
populated region

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What This Means
● Renters truly do make use of virtual
options
● Virtual showings are convenient &
effective
● By offering this option you will
attract more renters

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Self-
Scheduling
Use a built-in video
conferencing tool that
allows agents to connect
without the hassle of
downloads or logins.
Seamless
Setup
Allow prospects to
self-schedule from a
vacancy listing or your
website
Interactive
Site Maps
Conversions increase 2-3x
when prospects see and
understand unit location.
Tips to Succeed With Virtual Showings

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Post-pandemic,
renters will still want
virtual options

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Virtual Leasing
Experience with
AppFolio Property
Manager

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Lisa -Digital
Leasing Assistant
● Communicate with prospective tenants and
follow up on leads via text and email
● Answer property FAQs
● Pre-qualify prospects
● Schedule, confirm, and reschedule
showings
● Cross sell leads to other properties in your
portfolio

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Interactive Site
Maps
● Provide more context for prospects
about the location and availability
of units before seeing the property
in person.
● Works with Self-Guided Showings
and/or Virtual Showings to support
virtual leasing efforts.

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3D Tours
Embed 3D Virtual Tours on
AppFolio-powered websites to make it
easy for prospective residents to engage
with available units and self-qualify so
leasing teams focus their time on filling
vacancies with serious leads.

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Self-Scheduled
Showings
● Eliminate the back and forth of scheduling
● Prospects can self-schedule a virtual
showing via web listing of a vacant unit
● Agents set their Showing Availability, then
Prospects will be able to choose when to
view a unit based on these times.

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Virtual Showings
by AppFolio
● A video meeting link is automatically
generated for newly scheduled showings
● Leasing staff and prospective residents use
the same link to join the showing
● Avoids the hassle of downloads, separate
logins, or staff using personal accounts

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Please use the Zoom Chat box to
submit questions for Stacy
Q & A
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Thanks!
Submit any further questions to:
s.holden@appfolio.com
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