Online leasing, self-guided tours, and other "hands-off" leasing tools were already coming into their own before the COVID crisis. Now, many multifamily property managers are saying there's been a spike in their use that they expect will be permanent. Property managers have been navigating today's troubled waters with a variety of leasing strategies. Many are blending online and virtual approaches to successfully drive new leases and renewals. And some of them have been able to achieve strong closing ratios even with the leasing office closed or partially staffed. Strategies differ. Some offices have been fully staffed but see residents and prospects by appointment only. Others have been mostly empty, relying on online communication with prospects. At still others, self-guided or virtual apartment tours have become the new norm. Property managers have leveraged technology to keep the rent roll needle moving forward even when the office is locked. And the reliance on self-serve leasing appears to have staying power. Properties now have proof that these leasing tools can serve a much bigger purpose than as a stop-gap during tumultuous times. And that prospects, in fact, like them. Strength in a weak market Through early June, apartment leasing remained strong, according to RealPage transaction-based data. Even better was that during the week ending June 13, total new lease signings were actually 20% above the same period last year despite a deteriorating U.S. economy. The uptick created renewed confidence in pricing as well, says RealPage Deputy Economist Jay Parsons. “That’s really remarkable considering the economic backdrop.” Leaders from AMLI Management Co., CamdenLiving and Kairoi Residential have successfully implemented new virtual leasing and renewal strategies that incorporate social distancing, mitigating the damage that might otherwise have been done due to the limitations on leasing offices. Kairoi Residential has experienced...

Online leasing, self-guided tours, and other "hands-off" leasing tools were already coming into their own before the COVID crisis. Now, many multifamily property managers are saying there's been a spike in their use that they expect will be permanent. Property managers have been navigating today's troubled waters with a variety of leasing strategies. Many are blending online and virtual approaches to successfully drive new leases and renewals. And some of them have been able to achieve strong closing ratios even with the leasing office closed or partially staffed. Strategies differ. Some offices have been fully staffed but see residents and prospects by appointment only. Others have been mostly empty, relying on online communication with prospects. At still others, self-guided or virtual apartment tours have become the new norm. Property managers have leveraged technology to keep the rent roll needle moving forward even when the office is locked. And the reliance on self-serve leasing appears to have staying power. Properties now have proof that these leasing tools can serve a much bigger purpose than as a stop-gap during tumultuous times. And that prospects, in fact, like them. Strength in a weak market Through early June, apartment leasing remained strong, according to RealPage transaction-based data. Even better was that during the week ending June 13, total new lease signings were actually 20% above the same period last year despite a deteriorating U.S. economy. The uptick created renewed confidence in pricing as well, says RealPage Deputy Economist Jay Parsons. “That’s really remarkable considering the economic backdrop.” Leaders from AMLI Management Co., CamdenLiving and Kairoi Residential have successfully implemented new virtual leasing and renewal strategies that incorporate social distancing, mitigating the damage that might otherwise have been done due to the limitations on leasing offices. Kairoi Residential has experienced...