To whom should the pretty three-room apartment in the heart of the city be rented, and who is the right candidate to sign the lease for his house today? Real estate agents and property managers have to deal with questions like these every day, because living space is scarce, but the number of interested parties is rising steadily. In large cities such as Berlin, Munich and Hamburg, there is a housing shortage, and there are hundreds of interested parties for every single property. Despite the numerous applicants, it is becoming increasingly difficult to find a suitable tenant. The selection process when renting out real estate is crucial, as the perfect condition of an apartment can only be guaranteed by a conscientious tenant.
To ensure that the rental of an apartment runs smoothly, the best candidate must be found. This is where digital rental management comes into play. Thanks to a sophisticated, fully automated selection process, the number of potential tenants can be limited in order to select a suitable tenant. Tenants are put through their paces, whereby they must meet certain criteria, which you as the landlord can determine individually for each property. Only you know which criteria are particularly important for you. The inquiries of all prospective tenants are evaluated according to the parameters provided. This saves time and money, because in this way unsuitable prospective tenants are immediately excluded. Only those potential tenants who meet your minimum requirements are invited to view the apartment.
On average, there are 100 interested parties per apartment. This means that 100 questionnaires have to be evaluated and 99 rejections sent. Each property is advertised in various popular portals - a great effort with an uncertain outcome. Instead of manually processing the inquiries of potential tenants, the process can be simplified with digital rental management. Whether an apartment for rent or contract management for a house - everything can be managed digitally without any problems. Since the rental takes place online, the presence of the future tenant is only required to view the apartment. Even the rental agreement can be signed electronically.
For property managers it is important to let as many properties as possible in the shortest possible time. The right tenant must be found for each apartment. This is where digital rental management can play out its strengths, because the program can clear the way for a future tenant as soon as the termination date of the previous tenancy is known. An apartment that is soon to be released for new letting can be automatically advertised on all portals via digital rental management. As soon as inquiries are received from prospective tenants, they are checked for previously determined points.
The software filters out suitable candidates and sends rejections to the rest of the prospective tenants. It is also possible to send already entered alternatives to those interested parties who have received a rejection. In this way, even renting an apartment that is outside the city limits or that is not very favorably priced is possible in no time at all - a huge advantage for tenants and landlords alike.
Every interested party who makes an inquiry about an apartment is forwarded to a questionnaire via the digital system. This questionnaire can be adapted to the requirements of the respective landlord. This means that unsuitable tenants can be eliminated immediately and the circle of potential tenants becomes ever smaller. During the selection process, the system filters out those interested parties who meet the specified conditions. You will receive an invitation to view the property. When the suitable tenant is found, the software sends a message to all other applicants.
Interested parties can create a profile and give their consent to continue to be informed about new properties via the opt-in function. If an apartment is released for rent, all suitable users automatically receive a message. The users can then decide for themselves whether they want to make an inquiry about the apartment.
While there is a housing shortage in large cities and urban agglomerations, real estate in rural areas is affected by vacancies. Here, too, digital rental management can intervene, because thanks to the stored data, the apartment and tenant can find the right property. For example, a potential tenant who has received a rejection from a previous apartment might consider an apartment in a city a little further away if such a variant is submitted to him by e-mail. Digital rental management ensures that the rental of your apartment is done quickly.
Thanks to the comprehensive database created by the many stored and evaluated inquiries and search profiles, apartments can be quickly rented to a suitable prospective tenant. The landlord knows in advance whether an applicant meets his expectations and whether it makes sense to arrange a viewing appointment.
If you want to rent out several apartments at once, you also have to take care of the contract management to manage your real estate. With a large number of tenants, the overview is quickly lost - so it is advisable to make use of the appropriate software. Contract management software captures all basic data and provides a precise overview of termination dates, current rental contracts and upcoming rent increases.
Digital rental management offers simple solutions for complex processes. Instead of manually evaluating thousands of requests and then sending out almost as many rejections, a software program now takes over these tasks. This also increases the chances of finding a suitable tenant even for a vacant apartment in a rather unpopular area. You can now easily advertise your apartment on all real estate platforms and manage your properties digitally.
At this year's ZIA Energy & Innovation Congress, EverReal, together with MEAG MUNICH ERGO AssetManagement, will present how PropTechs and established asset managers can cooperate successfully in practice - using the example of a letting solution developed by EverReal that revolutionises the entire letting process.
The letting of dwelling is a complex affair: Exposés provide, prospective customer inquiries answer, the credit-worthiness of potential tenants examine. Whether you are real estate owners yourselves or as house and housing management the interests of landlords and tenants represent: Manual processes in the letting costs a lot of time.