Office leasing: The digital way
The traditional way of leasing commercial spaces would allow the lessee to experience the space, view the layout and accordingly visualize how the space serves the required business needs.
However, the digital or virtual leasing process gives the tenants the ability to get the same experience without having to physically walk through the property. The switch from manual to digital has progressed over the years and the pandemic has furthermore escalated the impact of digital office leasing. The commercial real estate industry is increasingly utilizing digital leasing to offer an easy process that allows the tenants to find what they’re looking for with a click of a button. It has also exposed the shortcomings of manual processing and drove tenants to opt for digital office leasing.
In the past few years, many technologies like self-guided tours and 360 virtual tours have helped carry out the daily functioning as most property tours switched to virtual viewing and online tenant communication. Digital office leasing provides businesses with the ability to present the property to potential tenants by integrating virtual capabilities into commercial leasing. Online marketplaces and digital leasing solutions offer significant scope to improve conversion rates, shorten deal times and increase efficiency.
In the wake of Covid-19, digital office leasing has become a prominent source for tenants¹:
- 70% of the tenants would feel uncomfortable doing an in-person tour of office space.
- 80% of the tenants said they would prefer a virtual tour of the space.
The virus has accelerated technology adoption in the real estate industry, with consumer expectations rising and the new business climate caused by the pandemic.
Keeping up with the current approach, Nucleus Office Parks competes in the digital market space by making their commercial office spaces more conducive to technology. The firm offers online walkthroughs for an enhanced viewing experience and delivers digital brochures enabling remarkable levels of productivity.
Source: 1. According to a study conducted by VTS real estate:
