Technology is Changing the Rental Process for Both Renters and Landlords

By Staff Reporter - 21 Jan '20 10:13AM
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  •  Technology is Changing the Rental Process for Both Renters and Landlords
  • (Photo : Technology is Changing the Rental Process for Both Renters and Landlords)

Have you ever had to look for an apartment or condo before? Do you struggle to find renters for your rental properties?

If so, you know that these tasks are not straightforward. However, these duties were even harder in the past because renters and landlords didn't have access to one essential tool: modern technology.

It's true; modern technology is changing the way that both renters and landlords view the rental process.

If you're a renter that's been struggling to find a living space, you can use these technological innovations to easily find downtown condos to call home. Likewise, landlords can use modern technology to reach a more significant number of quality renters!

1 - How Technology Can Benefit Renters

There are several ways that renters can use modern technology to their advantage, especially while searching for an apartment or condo.

i) Social Media

Firstly, social media platforms, like Facebook and Instagram, are filled with pages that focus solely on rental properties.

These pages generally provide useful information like:

  • The square footage of the space

  • Basic photos

  • Adequate descriptions

Renters can scroll through these listings and potentially find some diamonds in the rough.

ii) New PropTech Companies

Alternatively, renters that don't have the time to search through these pages can use a new PropTech company (short for property technology) that matches renters with landlords in their ideal area.

These companies can provide renters with essential information and tools that expand beyond the usual tidbits mentioned above.

PropTech companies can often help you:

  • Search for living spaces in your preferred area

  • Set up viewings

  • Create a renter profile, which keeps all of your information in a convenient, safe place

  • Simplify the lease signing process with digital leases

Not to mention, many PropTech companies offer their services at no cost to renters. This makes them an extremely cost-effective tool for people that are planning on renting an apartment for the first time.

2 - How Technology Benefits Landlords

In the past, landlords had to rely on newspaper ads and "for rent" signs. These limited tools were the only things that they could use to reach out to renters. Thankfully, this is no longer the case.

i) Online Listing Websites

You don't need to be tech-savvy to use listing websites like Kijiji. These user-friendly websites are ideal for landlords that want to increase their potential audience.

As of August 2019, Kijiji had approximately 16 million users. By posting your rental property on Kijiji, you can potentially reach millions of people that are looking for new apartments or condo rentals.

ii) Proptech Company...Again!

PropTech companies aren't just for renters; landlords can highly benefit from these innovative companies as well.

Many PropTech companies take professional-level photos of your rental properties and share them on the most popular rental channels in the area (including MLS and social media).

Regardless of if you're a renter or a landlord, the rental process can feel extremely tedious at times. Thankfully, by using the tools mentioned above, you can make the rental process feel like a walk in the park.

Copyright © 2017 News Everyday
* This is a contributed article and this content does not necessarily represent the views of newseveryday.com

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