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3 Reasons Why You Should Make Your Leasing Process Renter-centric

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When was the last time you thought about your leasing process? Are your tools and systems focused around the renter's needs? Unfortunately, many property managers are using technology that is property-centric and not always easy or intuitive for renters. In today’s world where technology is developing at a rapid pace, a renter is going to expect the process to be seamless (like booking a hotel room). If you’re not upgrading your process and others are, those property managers may be seducing away the high quality tenants you want for your business. Here are the top three pieces of advice to attract your ideal tenant in today’s market.


Virtual Tours

 The pandemic has left no business untouched. That said, some beneficial outcomes of the past few years have been a push toward digital and virtual offerings that are now widely accepted. Things that would have taken place in person can be replaced with online meetings, virtual tours, e-sign tools, and other internet services that provide convenience and efficiency for both applicant and property manager. Take the example of a virtual property tour. The benefits of this are easy to see. An interested renter can view the space immediately upon initial interest or even multiple times on their own schedule without the need of arranging a meeting. Your time as a property manager is spared for other revenue-generating tasks, and neither party has to spend the time or gas on travel. A potential renter can quickly vet a property and decide if it is right to pursue. In fact, the American Apartment Owners Association published their annual report of the main trends affecting the rental property market for this year, and the availability of virtual tours is a key factor. 


Simplified Application Processes

 Once a rental property has been chosen, renters today want a simplified application process. Applying to lease a new property can take as many as 10 steps. All of this back and forth between the renter and property manager could easily turn-off potential applicants. It has become an expectation among renters that the application process is streamlined and centralized utilizing modern technology to do so.

 With so much information being exchanged, including private income and other personal information, it is important to use one centralized and secure method of communication. Today’s humans already have to keep up with multiple different applications and processes. Why not make it easy for renters to be able to apply, upload documents, and track their application status from one place? A centralized communication and record system for both property manager and tenant is the gold standard. 

 Here’s the exciting bonus for streamlining your application process. Not only is the leasing process more favorable, attractive and user-friendly for the applicant; your job as a property manager becomes quantifiably easier, too. New technology in the property management space can run background and credit checks, filter applicants based on desired tenant qualities, and automate much of the process on your behalf. 


Trackable Application and Approval Process

 This brings us to our third key component to making your leasing process one that renters prefer - a trackable application and approval process. Now that you're utilizing a centralized platform to simplify the application process, transparency into the process is key. Renters today want to know which stage in the process they are in. They want to know if their application is complete, if they’ve submitted all the required documents, when their application is under review, and if they’ve passed all credit and eviction background checks. People today like seeing movement. We like to see our food delivery order make its way to our home address just as renters like to see their application making its way through the approval process. It is exciting, reassuring, and lets them know they are one step closer to moving in.


There is no need to be pushing paper in today’s market. Sunroom’s tenant screening service makes all of these key components a reality. Learn more today.