The property rental business has dramatically changed in the last few years. Among the most significant changes is the transition to online management. If you are a property manager or landlord and you have not yet made the move to an online rental application, there are several excellent reasons to do so.
1. It's Quick and Effective
Whether you have one property or dozens of properties, you need a system for organizing applications that is fast and efficient. An online rental application is an excellent solution. By handling as much of your work online as possible, you can manage your property rental business in a must faster and more efficient manner. You also gain the ability to track the status of each application, make notes, and instantly communicate application status with your tenants.
2. Increased Business
You might be surprised to find that an online rental application can actually help you to generate more interest in your units. Tenants, particularly younger tenants, are more likely to inquire about online rental applications. The simple fact of the matter is that potential tenants are more likely to rent from you if you provide an online rental application option. In addition to eliminating the need to complete paperwork, an online rental application option also removes the need for prospective tenants to actually drive to your office. Ultimately, offering an online application makes life easier for your tenants and the easier you can make the application process, the more likely tenants are to actually rent your unit.
3. More Tenants to Choose From
The last thing you want is to be stuck in a situation where you feel as though you must rent a unit to a questionable tenant because there is no one else. With an online rental application, you will have more prospective tenants, giving you the opportunity to select the most reliable tenants. As you already know, reliable tenants are a key ingredient to a profitable property rental business. With an online rental application, you remove the guesswork from finding quality tenants by ensuring that you have the best information for making an informed decision while ensuring you are in compliance.
4. Ensure Compliance
Making certain that you are in compliance with the leasing regulations for your state can be time-consuming and a hassle. By opting to take advantage of an online rental application, you can set aside those worries. State-specific rental applications ensure that you are completely covered and in compliance.
5. Take Advantage of Online Sharing
With the option to embed an Apply Now button with VerticalRent, you can embed the rental application on your Facebook or website for increased exposure.
Paper rental applications have rapidly become a thing of the past. An increasing number of tenants are now actively requesting online rental application options. In addition to helping you operate your property business more quickly, online rental applications also help you to tap into a larger market and ensure that you remain compliant.