While the real estate industry in general has been characterized by developments and disruptive innovation, the same does not necessarily hold true for the rental sector.
Millions of renters struggle to find the house of their dreams – and even when they do find an apartment that they might want to live in for a few years, dealing with landlords can be difficult at times. Not always, but sometimes it can be a struggle.
Fortunately, real estate technology is finally beginning to change the future of the rental sector as well.
Today, there are countless rental and property management that are focused on making the lives of renters simpler, easier, and more convenient. With the help of these rental websites and software, it is not only possible for renters to find the property of their dreams, but they can also pay their rent and register complaints regarding the property in an efficient manner.
Here, we’re telling you 3 of the best ways in which technology is changing the lives of renters for the better.
Young adults and millennials prefer and find more value in renting as opposed to buying. According to a Pew Research survey conducted in 2016, more than 70 percent of the participants aged between 25 and 35 had given preference to a rental property as opposed to buying and moving into a house of their own.
With the help of rental properties and software, it is possible for college students and young adults on a budget to look for the rental property that suits them best. Even though the real estate industry has traditionally been extremely localized and based on personal relationships, today, it is possible for renters to filter out properties based on a number of different factors, something all of us at Rentable work hard to make happen every day.
These factors include the number of bedrooms and bathrooms, the location, and the price range to ensure that renters don’t have to waste time browsing through properties that are out of their budget or do not meet their requirements. Providing the renter with an updated inventory list is extremely important and something we strive to improve on a daily basis.
Convenient Payment Mechanism
Most rental properties and property management softwares today make it possible for renters to pay their rent online. This does not only make things a lot more convenient and simple for tenants, but also ensures that landlords won’t have to knock on the door of their tenants incessantly just to receive their payments.
A number of software can also be used to receive notifications for rent payment, and gives renters the chance to pay using credit cards or their bank account for easy and convenient transactions.
Sitting through the leasing process can be extremely intimidating – and this is especially true for individuals who have no prior experience renting an apartment and don’t know what red flags to look for. This is exactly why real estate technology such as rental websites and software have started focusing on automated leasing to keep the process as simple and stress-free as possible.
While the afore-mentioned benefits are truly life-changing, what’s especially noteworthy is the fact that all real estate technologies today are highly secure and easy to use.
Not only does the software today feature simplistic and user-friendly interfaces, but it also comes complete with multiple security gateways and mechanisms to guarantee that renters won’t have to worry about online frauds.