As a real estate agent, you know that the tenant screening process can be one of the most time-consuming and daunting tasks in your profession, or at least it was until now. Thanks to improved online tenancy applications programs, this process is becoming more streamlined and efficient than ever before.
If you haven’t already adopted this technology, get ready to learn how the power of online tenancy applications can buy you back hours of valuable time every week, and ultimately increase the bottom line for any real estate agency.
What’s Wrong With Paper Applications?
A lot of real estate agents have been using paper tenancy applications since day dot, so it’s understandable they may be reluctant to change their processes. If you harbour similar views, let us explain why this shift is important to your business.
Times are changing, and so are your competitors.
Real estate agencies across the industry are eagerly embracing these new technologies to streamline their processes and increase productivity. Put simply, those that fail to adopt these measures are destined to fall behind in today's competitive market.
In this article we’ll outline and explore the specific reasons why these new tenant screening processes are helping boost business for real estate agents across the industry, and how to pick the right one.
Only One, Easy-To-Use Form
First and foremost, online tenancy applications allow you to collect all of the necessary information from prospective tenants in a single, easy-to-use form. Instead of sifting through paper applications and trying to decipher messy handwriting, you can simply log into your online platform and view all relevant information in one place, helping save you a tremendous amount of time and effort.
Allows For Easy Comparison
In addition to saving time, online tenancy applications also ensure that all applicants provide the same information. This makes the process of identifying the most qualified candidates easier, and much more efficient.
The online tenancy application means you can quickly compare and evaluate qualifications, employment history, proof of income, rental history, and any other determining factors. This can be especially helpful if you have multiple applicants for a single property, or if you’re dealing with tenants who have a history of evictions or other rental-related issues.
No More Chasing Information
How many times have you had to pick up the phone to request forgotten bits of information from a tenancy application? It’s frustrating for the applicant, time-consuming for you, and means additional to-ing and fro-ing with the home-owner whilst you chase up additional facts.
An online tenancy application ensures that all applicants provide accurate and complete information, making it easy to compile the information into easy-to-read reports for the home-owner, should they request it.
Approval With The Click Of A Button
One of the most significant benefits of a good online tenancy application system, is the ability to approve a tenant with just the click of a button. Instead of waiting days or even weeks to review paper applications, online platforms allow agents to quickly and efficiently evaluate applicants and make a decision on the spot.
With the click of a button, an approved applicant can receive an automated email welcoming them to their new home, while unsuccessful applicants are informed that the property has been rented.
It saves real estate agents a significant amount of time and effort, while also providing a positive experience for all applicants involved. This speedy and professional service enhances a real estate agency's reputation, and puts them in good stead to attract even more clients in the future.
More Money In Your Pocket
At the end of the day, money talks, so any technology that can cut costs is going to be worth its weight in gold (pun intended).
By streamlining the tenant screening process and reducing the amount of time you spend on paperwork, online tenancy applications mean agents can increase their productivity and efficiency. Ultimately, this translates into increased profits for your real estate agency.
In addition, many online platforms offer competitive pricing and flexible subscription plans, which can help save you money over the long-term.
How To Pick The Right Platform?
There are plenty of platforms to choose from, but what sets the good ones apart from the bad?
Data security is crucial, so look for platforms that use encryption and other security measures to protect your clients’ sensitive information, and make sure that they have a strong track record of compliance.
You will also want a platform that is intuitive and user-friendly, which offers plenty of support and training materials to help you get started. The last thing you want is to invest time and money in a platform that’s difficult to use or requires extensive training to master.
Finally, make sure that any platform you choose integrates seamlessly with your existing systems and workflows. Look for a platform that offers robust APIs and other integration tools, and can deliver a complete property management software for your business.
Feature Of The Week: Online Tenancy Applications
MantisProperty's online property management technology not only ticks all of the above boxes, but the team confidently guarantees that they offer the most affordable and user-friendly real estate CRM on the market.
If you’re ready to step up your real estate game with a powerful tool that can streamline your tenant screening processes, increase your company’s efficiency and profitability, and help you stand out in the competitive real estate market, than you’re ready to check out MantisProperty’s solution here: https://www.mantisproperty.com.au/propertymanagement.aspx