As the world has converted into global hub, relocations have increased many folds. It can be either for job, medical service, tourism or study.
Relocation along with other factors such as increased population has laid down the foundation of a rapidly growing business of renting the property. Growth of renting business is very promising especially in tourist places and developed cities that offer a lot for enjoyment and ample opportunities for employment and various higher studies and training.
Since renting has gained a shape of complete business it calls for a smooth management to streamline the things to ease operation and to facilitate the tenants’ needs and requirements to achieve ultimate customer satisfaction, brand image and bottom line i.e. profit.
For easy and flawless management of rented properties the owners and brokers have realized the need of some tools that can help them in
- Keeping records of central repository of Rent agreement/ contract documents.
- Recording water consumption
- Reminding contract renewal
- Automated reminders to tenant for payment
- Late fee calculation
- Advance planning to minimize the zero return periods in the duration when property is not on rent
- Keeping personal records of tenants like contact number, permanent address, their complaints, suggestions and dispute details etc.
With the rapid growth of renting business, it has become essential for the brokers to depend on the IT software for better maintenance of workflow. Here are some of the other reasons apart from those mentioned above.
Set a budget
The brokers can set a budget and calculate everything to find the profits that will be determined. They can easily decide and calculate the amount of money that they can spend on the entire process of renting by using IT software to gain benefit in the business.
Where to search tenants
Again, using IT software will help the brokers to search the tenants easily. They can look for tenants who are in search of properties that the brokers can offer them. The brokers can also use other mediums like advertising to draw more people to the property being offered. However, using software can make the search much more effective and beneficial.
Getting the complete tenant’s information
Before offering a renting property to anyone, the broker must properly find every detail of the tenant and go through the information collected. So, using software makes the process much easier and it actually helps the broker know a lot about the tenant including the monthly income, last address, phone numbers, etc. It also helps the brokers to generate leads and get more business.
Rentoos is trying to solve the problem via smart algorithm and great UI designs.