The Preiss Company Expands Self-Guided Tours with Tour24

Owner of multifamily and student housing communities in 24 states relies on Tour24 to schedule tours online, accelerating lease times and increasing occupancy rates

BOSTON--(BUSINESS WIRE)--Tour24 announced today that The Preiss Company, a leading operator of off-campus student housing, has expanded implementation of Tour24’s multi-award-winning self-guided touring platform. Tour24 is a critical tool for converting prospects to residents and expediting the leasing process. Created to address the need for convenient and flexible touring, Tour24 offers prospects the opportunity to schedule and tour communities at their convenience, providing exceptional self-guided tours outside of regular office hours and on weekends.

In Q1 of 2024 Preiss reported more than 559 unique prospects created with Tour24, leading to nearly 372 self-guided tours being scheduled and 135 leases being closed. Impressively, 74% of all tours were successfully completed, leading to a 43% closing ratio with self-guided touring. 70% of self-guided tours were completed on the day scheduled, and 53% within an hour of being scheduled. Tour24 also helped Preiss expand its touring schedule to times more convenient for prospects, who completed 59% of scheduled tours outside of 9-5 business hours, and 46% on weekends. The average monthly rent of the closed leases is $900 per bed, meaning that Preiss generated nearly $121,500 In revenue through Tour24.

Adam Byrley, COO of Preiss, says, “Nearly two thirds of tours are scheduled outside of regular work hours, so we needed the right partner to create an automated leasing journey that offers prospects 24-hour service to tour and lease at our communities. We love innovation and automation, and Tour24 really shined by offering a people-centric experience while also being tech-driven. Like a guided museum tour, Tour24 made our prospects feel like one of our agents was leading them through the community. Tour24 has helped supplement our leasing teams. Pre-leasing is important in the student sector — we're often leasing a year ahead. Supplemented by Tour24, we've seen an increase in leasing velocity. It's been a performance driver for our teams, and a huge driver in facilitating re-tours. Sometimes parents want to inspect a space after their kids, or students want to bring friends to see their new home. If our teams are occupied with potential new lease opportunities, they can direct second-time visitors to the self-guided tour experience, which has really helped save time.”

Tour24 founder and CEO Georgianna W. Oliver said, “Preiss has been a terrific partner for us as we broaden our footprint in the student housing sector. We are proud of the results we helped generate in the initial trial, and are excited to expand our presence throughout their portfolio. This is a win for everyone because students can tour and lease the units they want quickly and efficiently and Preiss leasing agents can focus on important revenue-generating work rather than the logistics of scheduling site visits.”

About Tour24

Tour24 is the multi-award-winning app for apartment owners and operators offering self-guided tours. The solution provides future renters easy access to self-guided tours via a custom, in-person, interactive and audio/visual tour experience. Tour24 integrates with existing technology stacks, and is the most comprehensive solution available today. Led by a high-caliber team of industry experts, Tour24 delivers more traffic, more tours, and ultimately more leases. The company is based in Boston and is privately held. Learn more at tour24.io.