The way we work has transitioned into a digital experience and the way tenants find, apply and rent a property should be as well. 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 the stage certain questions are asked 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 to be manually assessed for approval.
When the prospect has reached the approval stage, they will be informed the unit is reserved and receive a summary email with their application.
Your property manager will then receive a notification that an application requires approval and be able to view the prospects 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 information or re-enter information as it didn’t 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.
By using a single connected solution, like Yardi RENTCafé, you have the e-signature tool already built into the system, which allows you and your applicant to complete the journey without having to log into multiple platforms.
4. Simplify Payments
Setting up direct debits can be time-consuming, but by digitalising and putting the tools in your prospect’s hands, the process becomes automated.
When your tenant has received their approval notification, they can sign back 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 alternatively, set up their bank account for direct debits.
This is verified by a payment gateway and once approved, is automatically set up within your system for ongoing monthly payments.
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 journey, you can easily manage each stage of the application, providing more control and a real-time overview of the whole process. Your prospects can apply during a time that suits them and direct debits are set up automatically, creating a faster lead-to-lease journey.
Discover Yardi RentCafe for Residential
Yardi RentCafe is a powerful marketing and leasing platform that has 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.
Book a demo to see how RENTCafé can improve your applicant’s journey.