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. You have to make phone calls and send paper documents. It is still necessary for the parties to appear in person for certain matters such as handing over the keys.
Not everyone has the capacity for all this. But longer vacancies cost money and reduce income. Even renting a garage requires the same lengthy process - even if it is a comparatively easy property to let with lower rental income. With EverReal, you can handle many of these processes digitally, easily and clearly. But the digital solution for property managers can do even more.
Digitalization of rental with EverReal satisfies tenants and landlords alike and streamlines your internal processes. Instead of tedious paper, fax and telephone procedures, you can manage your property digitally. The possibilities are numerous: make documents such as the rental agreement available online in digital form. In this way, tenants and landlords alike can access the documents at any time and from any location. In this way, you digitize the entire rental process and benefit from fast processing, which leads to a significant competitive advantage and higher customer satisfaction.
Digitalization is now taking hold everywhere. Smartphones, tablets and the like have long since replaced analog devices, and young people in particular appreciate real-time communication. What's more, they are now demanding that as many business processes as possible be handled digitally. After all, they already know this from their work and private lives. Digitization of rental helps minimize vacancies by simplifying and accelerating the rental process. For example, you can:
- automate a proposed appointment
- make important information available digitally before a visit
- Synchronize ads in housing exchanges
- digitally edit the rental agreement online
Without digital help, the rental process is usually like this: Landlord, property management or broker collect all the key data about the rental property, such as the number of square meters, equipment, amount of additional costs and the special features of the location. They have photos taken and manually place advertisements in relevant housing exchanges. Afterwards, you sift through and answer the inquiries of interested parties.
Particularly in stressed housing markets such as large cities and conurbations, you will receive hundreds of inquiries for each ad. This enormous number can hardly be handled by a housing administration or a single employee. Making appointments to view the apartments presents you with further challenges, because first you have to filter out solvent tenants who fit into the property. After the inspections, further inquiries are received and finally a lease agreement is drawn up and signed by both tenant and landlord. In the past, a personal appointment was necessary for this, which was time-consuming. Today this can be done completely online.
With digital real estate management, you can automate numerous processes of a real estate rental. All responses to your advertisements are stored on a single platform across all stock exchanges, are uniformly recorded and automatically assigned to the appropriate contact person. You can sort and filter the responses according to criteria and obtain an optimal overview of prospective tenants. This makes it easier to select interesting candidates who are eligible for an inspection.
Appointments are also allocated digitally: via the EverReal tool, potential new tenants receive a suggested appointment, which they can accept or make a counter proposal. This considerably reduces the administrative effort and saves time. Experience shows that digital allocation leads to greater adherence to deadlines, which further accelerates the rental process. In addition, interested parties are automatically reminded of the appointment.
As a rule, prospective tenants require certain documents such as salary statements or a Schufa (German credit reference agency) report, which are obtained after the appointment. These can be easily uploaded with EverReal and viewed by authorized persons. If documents are missing, they can be requested with a single click - without the need for complicated telephone calls, during which the persons concerned might have to make a phone call.
After the inspection appointment, the self-disclosures are collected automatically and digitally. The system automatically invites prospective tenants to apply for the property with all the necessary documents, and they can compare the information at a glance to find the right next tenant.
No more time is lost for rental contracts and agreements when using EverReal. Rental agreements are created automatically and can be supplemented with individual parameters. Simply select the applicant who won the race from among the interested parties and EverReal will do the rest. It creates the contract in a few minutes, which you can then send digitally or make available online.
If a rental agreement is concluded, it is available electronically and can be viewed and downloaded by the parties. Modern tools enable the signature to be made electronically and the signed contract to be uploaded again. It is also possible to complete the entire contract electronically - without any paper documents or e-mails.
If a new tenant is found and the lease agreement is digitally concluded online, the last step is the handover of the apartment. Ideally, this is documented with photos and recorded in writing for the benefit of all parties involved. While this was still time-consuming and required numerous work steps in analog rental periods, today all you need is a tablet or smartphone on which the condition of the rental property is recorded in detail step by step. In this way, you minimize sources of error and have a complete log after completion of the handover. This can be electronically signed directly on site by the parties involved. This saves you subsequent work such as sending the protocol by post and any queries.
Whether it is a question of renting a small object such as a garage, or whether an apartment is to be moved to a new tenant: Controlling the property management digitally saves up to 80 percent of time and effort. You can rent faster, more efficiently and find the right tenant for your property more easily.
Learn more about all features of EverReal here.
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 real estate industry is at a turning point. Many property managers, asset managers and housing companies have recognized the urgency of the change from analog to digital corporate structures and are preparing for the future.