The rental application is a critical part of the tenant screening process. If you choose the wrong tenant, it can cost you a lot of time and money. However, paper applications take up space on your desk, can be easy to lose and require you to use a lot of paper. Here are four reasons why you should use online applications only.
1) Save Time Processing The Applications
A paper application takes time to process because it must be processed by hand. If a fee is required to process the application, there may be a delay while the check clears. When the application is done online, it can be processed instantly. Payments can be automatically taken from the applicant's checking account or from their PayPal account instantly. By saving time on the application decision process, a prospective tenant won't have time to choose another apartment before you can get back to him.
2) It's Convenient For The Applicant
People love to do as much as possible online these days. More and more apartment complexes are allowing residents to pay their rent online as well as allowing applicants to schedule appointments for showings online. Why not allow the applicant to do two things at once by submitting their rental application forms online as well? It could be the difference between an applicant choosing your apartment or not choosing your apartment to live in.
3) Save Money Throughout The Process
By having the application process handled online, there is no need to spend money on paper and ink. If your property processes a large volume of applications, it can cost a lot of money to print and process all of them. The property may also be able to drop that fax line that was used solely for accepting faxed applications.
4) Handle Multiple Applications At Once
It is much easier to deal with multiple applications at once when you have them tabbed on your browser as opposed to spread all over your desk. This will help increase productivity in the rental office and is another way to speed up the process of accepting or rejecting rental application forms.
There are many advantages to only accepting rental applications online. They can be processed faster, it is convenient for the applicant and it will save money on ink and paper. Overall, it is a win-win situation for the applicant and for the property manager.