Varsity Properties wins rental race using uForis VR

How the uForis VR rental app leased 99% of the properties in 6 short weeks.


Summary

Varsity

Founded in 2003 by A.J. Keilty, Varsity aims to simplify the rental process for students with prime locations and premium, hotel-level guest services. Varsity has grown to 13 properties in Kingston, with 3 new townhouse developments in both Barrie and Oshawa.

Problem: Hyper competitive market

In Kingston, it has become especially difficult due to university regulation that prohibits landlords from advertising properties until November as opposed to the beginning of the school year in September. Once the season begins, all landlords race to rent their units, putting them in an unusually competitive market.

Solutions

  • 26 floor plans captured in 4 weeks (9 shooting days).

  • Varsity branded iOS / Android mobile apps - Cardboard and GearVR ready.

  • Web embedded tours.

Results: Miles ahead of competition

Leasing cycles from 5 hours to 10 minutes.

  1. No limits on how many units prospective tenants can see.

  2. Tenants were willing to sign immediately.

  3. Prospective tenants confidence improved substantially.

  4. Time spent with successful lease closures reduced drastically.

  5. Works with international tenants.

Varsity managed to lease all of their units within 6 weeks. Higher closing rate, while lowering the amount of time staff had to spend with potential tenants boosted leasing agents’ morale and job satisfaction.

They came out miles ahead of their competition, with 380 new satisfied, happy tenants looking forward to moving into their new homes.