At first glance, the situation on many German housing markets currently seems ideal for landlords. When a tenant moves out, there is usually no threat of either rent losses or long vacancies, as demand for rental apartments is significantly higher than supply, especially in the major cities and conurbations. And whoever offers an apartment for rent can choose the tenant best suited to his or her needs from a large number of applicants.
Exactly this - actually positive - situation has however also a problematic flip side for many landlords, because the workload for the letting teams increases clearly due to the high number of incoming inquiries. This ties up considerable personnel and time resources that are not available for other important activities. Answering only selected inquiries and simply leaving the rest lying around is not an alternative. After all, every interested party has the right to be treated equally, and a high number of unanswered inquiries damages the image of the company concerned in the long run.
That is why it is important to make the letting process as efficient as possible, especially under the conditions of a tight rental housing market. This can best be achieved by consistently digitizing the entire letting process, from the initial publication of the offer, through the management and processing of incoming inquiries from interested parties, to the handover of the apartment to the new tenant. Incidentally, this is also helpful in those cases in which the tenant willing to move out has already suggested a new tenant to the landlord. If the apartment in question is not even publicly offered for this reason, the numerous inquiries are omitted, but necessary documents such as self-disclosure or salary statements must also be submitted by the potential new tenant. In return, the new tenant must be sent contractual documents and, if necessary, information material. All this can be handled more easily and quickly for all parties involved with an appropriately designed digital solution. In contrast, traditional methods such as mailings, telephone calls and personal appointments take up a lot of time and therefore incur unnecessary costs.
The demand for simple, largely intuitive and quickly implementable rental solutions such as those offered by EverReal is therefore likely to increase in the future. Those who use them consistently will benefit from them in several ways. On the one hand, the workload of rental team members caused by routine activities is effectively reduced. On the other hand, the number of inquiries from dissatisfied prospective tenants complaining about missing answers or long processing times will also decrease. This in turn increases the job satisfaction of the rental teams and enables them to focus fully on those activities that make a direct contribution to the value creation of the company.
Read here how the digital rental process works in just a few steps.
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.