Intelligent Self Showing Lockboxes for Property Managers

Posted on:
June 27, 2022

With the increasingly clever self showing lockboxes technology, contactless showings have increased from half to more than 60% of all property showings. Ever since COVID they have become an important driver for reducing vacancies and rental losses. So much so, that the recent industry report indicates 31% more visits to self showing properties. But how do property managers prevent their properties from frequent real estate lockbox break-ins?

Let's start from the basics.

How Do Lockbox Self Showings Work?  

As soon as a Property Manager enlists their property, it sets off a chain of reactions from pre-qualifying leads, verifying details, and answering potential questions to scheduling a property tour. With the help of AI-powered scheduling systems, self showings can be seamlessly scheduled. This still leaves security-related concerns unanswered.

That’s where new technologies come into play which have made self showings safer than ever thanks to innovative software and robust self showing lockboxes technology.

These property tours are usually facilitated by remotely controlled self showing lockboxes. Property managers are able to send unique access codes to scheduled visitors within seconds versus waiting for them to arrive in person at their listing location. There is a myriad of options out there for self showing lockboxes, each enlisting different features centered around securing self showings. But are you sure if your choice is the right one?

Can your Self Showing Lockboxes Prevent Rental Scams?

Despite spending millions on safer self showing lockboxes technology, self showings have fallen prey to rental scams one way or the other. The prevalence of fraud has increased significantly as a result of this acceleration into the digital domain. Only last year, the industry saw a 30% rise in rental fraud triggers.

Consequently, if a property manager has been scammed, it is going to cost them much more than just time and money. Bad word of mouth could result in decreased revenue over the long run. Whether you’re managing properties for yourself or as an experienced professional property manager, it is always worth your time to find ways to prevent being scammed and preserve your cash flow for years to come.

This is where LetHub comes to save you from it all!

Achieve Zero Rental Scams With LetHub’s Self Showing Lockboxes Technology

During a time when rental scams are on the rise, LetHub has made leasing faster and secure for property managers by weeding out their poor-quality leads and introducing the safest self showing lockboxes.  

1. Smart collaboration with Codebox

Our lockboxes employ terrific code generation technology, thanks to Codebox! These electronic self showing lockboxes can be installed on your rental property. You can either choose the Junior or Senior Codebox to:

  • Not only ensure security but also a clean, organized system for multiple units or properties.
  • Set a unique code for providing secure access while keeping track of the date and time of each access.

2. Powerful Integration with Stripe

  • Once a prospective renter books a showing time with River, they are redirected to a verification page in Stripe.
  • This step requires the prospective renter to upload their most recent ID card, driver’s license and other documents after scheduling the tour.  
  • All of these steps are completed within a matter of minutes and are verified in real time.
  • In case a prospective renter hasn't verified their identity 24 hours before the showing, they are sent a reminder email otherwise the showing gets cancelled automatically.  

3. Intelligent facial scanning

  • Armed with a reliable two-step verification method, LetHub’s intelligent self showing lockbox technology takes the identity-verification process one step further with the use of facial recognition technology.
  • Once a prospective renter uploads their information after scheduling a self showing, they are also required to capture a selfie using their front camera.
  • The image is then run across the largest database in the US by Stripe and intelligently verifies the image to determine any signs of possible fraud.

4. Active measures against false information

  • In case there is a discrepancy found in the information provided by the prospective renter, our AI equipped platform will:
  • Add the prospect to a blacklist and enter this information right into our sophisticated detection algorithm.
  • Cancel the showing, either with or without notifying the prospect.
  • If there is a problem with visibility or legibility, ask for another submission.

5. Awesome customer support

  • Although using a self showing lockbox doesn't need much training, there is always the possibility of error when using one for the first time.
  • To cater to such queries, we have a dedicated customer support team to provide support at every step of the verification and self-touring process.

6. Tracking your self showing tours in one place

  • Our self showing lockbox technology is deeply integrated with our LetHub app to leverage all the benefits and cost savings that come from leasing automation.
  • LetHub has also introduced a new section to its dashboard that gives property managers all the information and insights about each self showings scheduled for their units.

How Our Latest Self Showing Lockboxes Technology Can Help Property Managers?

The LetHub platform is designed to make your lead-to-lease cycle extremely seamless. From scheduling solutions to filtering out quality leads, the addition of our self showing lockboxes will:

1. Secure your self showing process

Keep it safe, LetHub has got you covered! The smooth integration of a self-showing schedule within your LetHub account and easy remote access to a secure self showing lockbox will ensure that you do not fall into the hands of any scams and that no unauthorized individuals will be able to access your properties.

2. Reduce vacancies by 25%

When compared to homes that only perform in-person showings, self showing properties spend 17% less time on the market. By employing LetHub self showing lockboxes, you can promote self showing tours of your properties and reduce the number of days that are unoccupied to save 58% of revenue lost.  

3. Save $35K in staff costs

Self showings eliminate the need for hiring additional staff to schedule or accompany potential renters to the property. Coupled with all the other property management tasks that LetHub takes care of, this cherry on top will help you 5X higher show-up rates and high NOI within weeks.

4. Convenient price and flexible credit plans

All our self showing lockboxes cost $5/month regardless of being active or not. Additionally, the service is also available on an easy credit plan as well. Hence, the safety of your showings will not cost you an arm and a leg and will enable you to invest the money back into growing your business.

Now you can finally achieve 100% of your growth targets and get those vacancies filled efficiently, that too at a faster rate.

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