Online vs Traditional Rental Application: Which One to Choose?

As we live in the era of Facebook, Snapchat and Siri, it is not surprising that many companies are trying to abandon paperwork for online solutions. Real estate agencies that operate in a highly competitive market are not an exception. According to a recent research by The Joint Center for Housing Studies of Harvard University, the number of rental households increased by 600,000 from 2015 to 2016. It marked 12 consecutive years of growth.

Given the market intensity, it shouldn’t surprise us that the process of renting a property is no longer limited to a listing in a local newspaper. Going online does not cost a fortune, and it brings significant benefits for everyone involved – the real estate agent, the landlord, and the renter.

Polishing Your Image

Not all the people have readable handwriting. Also, not all of us have an impeccable writing talent. Many individuals find it difficult or impossible to express themselves in writing. No matter what, everyone wants to make a good impression on the landlord. This is when the online application comes in. All the tenant should do is to fill in the required fields, and the system will do the rest of the job. It will also include a credit report and a thorough background check.

Time-saving & Energy-saving

The online rental application process undoubtedly saves time. Tenants do not have to take time off work in order to complete it. All the information they need to submit is available in a handy format online and can be accessed from anywhere.

Landlords, in turn, have a digital access to all the application packages at once. They can review them from the comfort of the sofa. It is no longer necessary to visit the real estate office to take all the paperwork.

Real estate companies can also benefit from the automated process. Based on the information given by a tenant, an agent can easily run a background and credit check. They can also keep track of all the applicants and landlords, and amend anything within minutes.

Eco-friendly

No matter whether you’re a landlord, a tenant or a real estate agent, you do not help the planet by printing out thousands of papers each time you want to move houses. A recent study by Nelson revealed that over 70% of people would choose using the services of an eco-friendly company, even if it costs a bit more.

Easy-to-Customize

Have you received many rental application tips from friends and acquaintances? Maybe you think you need to edit your application? If it’s a digital one, it takes you nothing but a few mouse clicks.

It is also convenient for landlords. If they manage several properties in more than one state, they need to take the local legislation into consideration. It will be much easier for them to customize a template and add/remove clauses depending on the state. Landlords will no longer need a pile of printouts and strikethroughs to make a simple amendment.

Attracting Younger Generations

Millennials do not get impressed easily. They grew up surrounded by tech and digital media. Often stuck to their phones, they will not be very reluctant to go back and forth to the real estate office one hundred times to bring the very next paperwork in person. They would rather write their cover letter to landlord on their tablets and submit it online along with all the other documents.

 In light of all said above, it becomes clear why an increasing number of people choose online applications over traditional ones. It’s safe, more convenient, and eco-friendly.