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Digitalizing Landlords and Tenants Relationship Quick

Digital era is changing landlord and tenant relationships for the better
By Belle Nguyen | EnvZone Former Staff
on April 16, 2019 | 7 min read
Image credit: FrontStep

The explosion of the digital era is truly noticeable since there are a wide array of innovations and initiatives that make enterprises gain huge profits. That’s even truer when the landlords and tenants relationship is gradually digitalized – everything happens on the Internet!

All the problems (lacking communication, rental transactions, privacy issues, etc.) between owners and tenants are making the relationship worse.

But the technology did it pretty well in solving them.

We are All Bored with the Old Ways of Renting House…

As landlord, they are tired of finding a quality tenant who makes rent payments on time, takes care of their property, and is willing to have a good talk to them.

As tenants, they are frustrated to find a convenient home but meet their requirements from clean and comfy to have an affordable price.

Not surprisingly, landlord and tenant relationship is sometimes getting worse because they both couldn’t find their mutual voices. The pain points here are that landlords wasted time and money in chasing rent checks and finding a quality lodger, but it seems impossible. Property owners decided to find a solution which they enlisted the help of real estate agents to handle this, however, this created a longer distance between the two, which hardly makes their relationship get better because they never met face to face but communicated through a third-party representative.

the landlords and tenants relationship will get worse if things don't change
Image credit: Unsplash

Now, It’s Changing

Thanks to the rapid development of technology, people came up with ideas to solve those pain points. They’ve created an online platform! And that’s how the old ways of renting a house are replaced by a wide range of property management platforms where people can log in, search and scroll for their expected apartment. This makes the screening processes much easier and also creates a great connection for homeowners and tenants.

Property management platform now infiltrates into the real estate sector with its powerful functionality. Smartphone apps or online platforms provide a live communication between landlords and tenants, which creates a transparent, immediate and closer conversation. This blows out all misunderstandings between both parties and keeps their relationship no more a long distance. Moreover, these days, the Internet is loaded with several comprehensive guides over property rental, which grants landlords a better preparation before making their estate investment decision.

How Technology Props the New Renting Ways Up?

Forget about a large number of traditional papers, chasing rent check, a property management software is a trusted place to share documents like contracts where both parties can discuss and sign the commitment if their smart devices such as laptops, smartphones plugged in with the Internet.

That’s also the way that a landlord manages their house, takes care of their property remotely and requests for an on-time payment through an app or a website. In term of commercial gain, if tenants satisfied with their home service, they will be able to go online, give high rate and leave some compliments which improve the value of rental properties.

It is when a lodger is easily able to search for the property, pin their most satisfied house, have an online chat with the hosts, sign the lease agreement, make a rent payment, check the facilities and organize their moving through an all-in-one property management platform. More than that, an online real estate tool can play as a customer service support where tenants can report their place’s status, ask about maintenance when there is something in the house need to be fixed.

And that is when the landlords and tenants relationship is awakening up just by a ring of notifications on apps!

A-property-management-platform
Image credit: Unsplash

How the World Is Taking Advantage of This Business Model?

Here comes with Cozy and Avail, the best things happen to landlords, property managers, and tenants which helps in advertising vacancies, processing applications, screening tenants, and collecting rental payments for landlords. That’s even better since they can solve the problems between landlords and tenants, make them closer connection through live chat and screening processes, the highlighted feature of these apps which helps property owners check payment and background searches without letting any applicant’s information be at risk. These platforms also provide downloadable archives and data storage tools.

Payment-Setup-Page-of-Cozy
Image credit: Unsplash

Instead of launching a comprehensive platform, Houserie, a new player within the sector, has tried to focus on one aspect of managing properties. It provides tool for screening potential tenants and allows both parties to get credit and background verification checks.

Companies are jumping in this competitive market to gain value from the platform, they keep developing and expanding the own services and unique features. To that end, the innovations are becoming more variety, the market is getting big that totally can let more than one business exist and thrive.

It is obvious that going digital not only builds a better landlords and tenants relationship, empower their communication but also makes a huge benefit for enterprises developing an online platform in the real estate sector.

What to Take Away?

It can’t be denied that technological innovations are changing the relationship between landlords and tenants for the better. A lack of communication may lead to a stressful relationship but building a property management platform will surely alleviate that. Going digital will help renting processes become more accurate, reduce unnecessary errors and remain proper financial records.

How about you? Which ways do you want to manage your property, traditional or digitalized way? Tell us now!

You Make Your Decision for the Landlord and Tenants Relationship

Want to help landlords attract quality tenants? We would like to help you out! EnvZone provides a pool of qualified vendors which customizes in the real estate sector for years. Contact us today and enjoy what we call the best experience ever!

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