Half of tenants believe the tenancy application process is slow and outdated, according to market research company, Populus, who conducted a survey on behalf of tenancy software specialist OnBoard Pro.
1,000 Private Rental Sector tenants were questioned to give an independent analysis of the technology used in the lettings market. The results raised some thought-provoking points about current technology and how improvement could mean a better experience for tenants and more efficient processes for landlords and agents.
The technology used varies but paperwork and manual processes occupy a huge amount of employees’ time.
52 per cent of tenants agreed that tenancy applications are reliant on outdated technology and feel that the efficiency of the application processes are not adding value or positivity to their customer experience.
The survey also highlighted that an overwhelming majority of tenants would like to be able to pre-complete applications before meeting an agent and are keen to migrate from paper forms to apply from home. Tenants prepared to pre-apply and tee-up their referees in this way can reduce the agent’s workload and put themselves in a better position to secure their property of choice.
Whilst increased regulation has been proposed, the tenancy 61 per cent thought a more innovative technical solution would be better than legislation.OnBoard Pro CEO Stephen Purvis said, “Tenants feel that the time and efficiency of the application processes hinder their experience. There is a clear expectation that technology would improve the process.”
Natalie Elphick, Chair of the Government Independent Market Review said: “Technological advances, like OnBoard Pro, support a modern approach to lettings which is what tenants want. I am sure the lettings industry would support the success of these new applications, to provide better value to people renting, saving time and money.”
OnBoard Pro has been developed to address the issues highlighted above and provides a faster, more efficient and cost effective solution for agents, landlords and tenants alike.
This pre-tenancy technology offers a complete and affordable solution for the rental property market by providing the tools to comprehensively check the suitability of tenants, record detailed photographic inventories, submit gas and electricity meter readings, record starting dates for local council tax and produce digitally signed AST contracts. This is all done from within the same application and can be completed at the property in under an hour.
For more info click here or contact Onboard Pro: [email protected] or call on 08452 262606.