How we work has transitioned into a digital experience and how tenants find, apply and rent a property needs to adapt. Technology provides the tools for you to enhance your applicant’s journey, save time and improve automation for your teams.
We recently asked a group of leading property operators how their prospects currently submit applications and 26% said they apply through emails. The biggest challenge they faced was capturing and collating data as well as online payments and setting up direct debits.
Here are 4 ways you can digitalise and improve the applicant journey:
1. Capture Data with Online Applicant Portals
Utilising online tools such as applicant portals enables quicker data gathering, simple applications and faster turnarounds.
Your prospects can apply in their own time and you can see their progress through one platform. They’ll be able to save their application and log in at any time to continue, check the status of their enquiry and use the account for future applications.
You can customise the application form and choose where to ask specific questions and which questions are mandatory, providing complete flexibility.
2. Take Control of the Renter’s Journey
Within the CRM system, you can control each stage of the applicant’s journey and choose when the application needs manual input for approval.
Once the prospect has reached the approval stage, they receive a notification to say the unit is reserved with a summary email that includes their application.
Next, your property manager receives a notification that an application requires approval and can view the applicant’s information. Once approved, your tenant can view a lease summary that provides a clear overview of their application, move-in charges requested and can verify and accept the lease agreement.
3. Utilise Built-in E-signature Tools
Not everyone has access to scanners or printers, which is why electronic signatures have become popular over the past few years. However, most e-signature tools require you to manually input or re-enter information as it did not import the correct data.
E-signature tools, such as Yardi’s ySign, allow you to upload a blank template that automatically pulls the data from the application through. Your applicant can make their own electronic signature and apply it where specified.
Using a single connected solution, like Yardi RentCafe, you have the e-signature tool already built into the system. This allows you and your applicant to complete the journey without multiple platforms.
4. Simplify Payments
Setting up direct debits can be time-consuming. By digitalising processes, you can give control to your residents and automate the whole process.
When your tenant has received their approval notification, they can sign into the resident portal to pay the move-in charges. Here, they can choose to pay with a one-time payment debit or credit card or set up their bank account for direct debits.
A payment gateway verifies the payment details and is automatically set up in your system for ongoing monthly payments once approved.
Your tenant will be able to manage the direct debit themselves through the resident portal or via the mobile app, making the applicant journey easier and more efficient.
By digitalising the applicant’s journey, you can easily manage each step of their application. You gain more control and gain a real-time overview of the whole process. Your prospects can apply during a time that suits them and automatically set up direct debits, creating a faster lead-to-lease journey.
Discover Yardi RentCafe for Residential
Yardi RentCafe is a powerful marketing and leasing platform. It’s been created for residential real estate to help streamline the renter’s digital journey. You can fulfil your marketing, leasing and resident services needs with a single connected solution. Use RentCafe to enhance and digitalise the renter’s journey with the application portal.