Online Rental Applications Will Likely Follow Similar High-Growth Trends as Virtual Tours
The Coronavirus has driven more renters to lean on virtual tours. Will applying online follow a similar trend? Likely, yes.
Contrary to popular belief, renters are still actively searching and moving into new rental units. A recent survey shows that 56% of renters still plan to move despite the ongoing Coronavirus pandemic. However, the way renters are searching has been impacted — largely driven by state-mandated social distancing and stay-at-home orders.
Renter behaviors have changed. For example, 49% of renters say a pre-recorded video tour is an acceptable replacement for an in-person tour. At Rentals.com, we’ve seen a 200% week-over-week increase in virtual tour engagement. Similar trends are found with buyers looking to purchase homes, with RedFin reporting a 494% increase in requests for agent-led video home tours.
It shouldn’t come to a shock that renters will likely soon look to online rental applications as a necessary alternative to paper-based or in-person submissions.
One way Rentals.com is responding is by providing landlords, owners and brokers with FREE online rental applications and screening reports.
Our online application form has all the necessary information to properly vet a tenant: personal information, employment & income, residence history and more. And since it’s online, it will always be legible and easy to complete.
If you have any questions about online rental applications, please reach out to our Customer Service team at [email protected] or 866-730-7177.