The next generation of renters is a tech savvy group who will use technology at its best to find their first or next perfect place to rent. That means that they will use tablets and cell phones to search for available listings, not print media and newspapers. They will also want to be able to conduct the business of renting via their phones or computers. That means that rental housekeeping and tasks should be automated and able to be done over the internet. Messaging and notifications including signing of leases and paying rents and deposits and other charges will be done via the internet as well.
First consider how the Millennial Generation will search for places to live. They will use their cell phone or tablet, most likely. Some will use a computer at work or home to search. Rarely do your prospective tenants just walk up and rent a unit. So when a vacancy is advertised, it needs to have all of the relevant data present for the viewer’s information. The other most needed option is to have pictures and videos available for them to peruse at their convenience. We suggest that our Smart Property Systems (SPS) subscribers give viewers enough pictorial evidence and data about each room that the prospective tenant can practically decide to rent by seeing the webflyer.
What is a webflyer? It is a template that our subscribers have to set up their internet advertising. That template allows the user to write a detailed description of the property, explain a bit about the neighborhood and amenities close by, the specifics about the rental unit, rent, date available, security deposit and more.
. SPS recommends that you take a video of the property and post it to YouTube then connect that URL to the webflyer so that the prospective tenant can get a better idea of the flow of the property. Many of our subscribers have told us that the cost of a subscription is cheap compared to the cost of advertising the old fashioned way. A subscription has all management tools needed to take professional care of your rental properties and includes the cost of advertising vacancies and for sale properties. It is a much better option than using print media and newspapers which do not accept pictures and you are required to shorten descriptions to keep the cost down.
Of course offering a terrific property which is kept in top shape is your best bet at getting vacancies turned quickly. Being able to offer online rent collection and a way to pay a security deposit on line will be the future for fast turn-overs. Smart Property Systems has a built in library which allows the user to attach esign to documents and send leases via email for signatures. This is also a huge time saver for those busy prospective tenants who want the convenience that technology offers.
Technology is a must in the present and future world of communicating with the Next Generation of renters. Check out our Smart Property Systems software to see that it provides that technology which you need to meet the needs of your investment rental business future.
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