The digital revolution has introduced a number of innovations that have made business relationships more profitable. This is even true for the relationship between landlords and tenants, which has previously been one of the most precarious and inefficient business relationships in modern society. Problems with rent transactions, privacy issues, and a general lack of communication have made the property rental relationship problematic, but technology is changing that for the better.
Helping Landlords Attract Worthwhile Tenants
One of the biggest problems property owners face is attracting quality tenants. Primarily, they want tenants who can be trusted to take care of their property and make rent payments on time. Previously, property owners enlisted the help of real estate agents and other professionals to do this type of headhunting, but this often resulted in creating a bigger divide between the landlord and tenant. In most cases, the landlord and tenant never met face to face and often communicated through the third-party representative.
Today, apps like Cozy and Avail make these processes much easier, while also helping to keep a closer connection between the tenant and landlord. The screening processes used in these apps help landlords run credit checks and background searches without putting each applicant’s information at risk. Traditional paper or email applications force potential tenants to share private and sensitive information with every property owner without ever knowing how their information will be used. The apps allow the application process to move forward smoothly without exposing sensitive information needlessly.
Apps Also Help the Tenant
Once the landlord chooses a tenant, the app becomes even more useful. Rent payments can be processed through the apps and some apps even provide an option for automatic payments. This ensures every payment is made on time, providing verification for both the tenant and property owner. This makes each transaction verifiable, eliminating errors on both ends.
The use of apps also helps to make requests for maintenance more efficient. Tenants can log a complaint in the app, which then sends a notification to the landlord. Again, this establishes a verifiable chain that ensures the landlord is receiving the complaints, allowing him to arrange for repairs more quickly.
Making use of mobile technology is helping to improve the relationships between landlords and tenants. A lack of communication is often to blame for strained relationships, but a relatively simple app can alleviate that problem. Using this kind of technology can also help property owners track tenant accounts more accurately, which is helpful in maintaining proper financial and tax records. Overall, a mobile app simplifies the management of rental properties and creates a more positive experience for all parties.