Will virtual reality be the future of property letting?

Does the term virtual reality (VR), make you automatically think of the high adrenaline worlds of gaming and entertainment? In fact, VR has a vast range of applications across many sectors, including that of property.

VR technology has the potential to revolutionise the way in property searches and viewings are carried out.  A virtual tour of a property can be created which moves from room to room and allows the viewer a virtual walk through of the entire property. Background music and sound effects can be added to fully engage the viewer’s senses.  Some technology even allows the viewer to pause and focus in on “hot spots’ of the property they are particularly interested in.  

2D virtual tours which can be viewed on smartphones, tablets or computers are becoming increasingly commonplace.  But it is the 3D virtual tour that is the real game-changer.  Using a VR headset, the viewer can gain a lifelike 1:1 scale, fully immersive experience of a property.  3D VR tours of properties yet to be built are even possible, allowing a client to see exactly what is being offered.

There are significant advantages to VR tours for both tenants and landlords. The tenant can make effective property searches at any time and from any location, thus saving themselves valuable time and energy.  They can make as many viewings of a single property as they want and share that viewing with other people. Increasingly, a VR tour will be the default first step in selecting a rental property.

For the landlord, offering a virtual tour will ensure that your property is viewed online as often as possible, generating more leads and a quicker letting time.  Indeed, some people may be willing to take a tenancy “blind”, based only on a virtual viewing. You can ensure that only genuinely interested tenants will request physical viewings, thus reducing time spent on casual viewers. Not only this, but the reduction in associated car travel makes a positive contribution to the environment. With sales of VR headsets set to reach 68 million in 2020, VR is undoubtedly going to play a major role in the future of property letting.