Posted May 22nd, 2012 No Comments
Here at LeaseRunner we are constantly learning from our customers, and we strive to provide the tools to make landlording much easier. The survey results from our first bi-annual Rental Industry Report reveal fascinating details about the challenges landlords face when managing rental properties. Below are two impressions we’d like to share with you.
Landlords Have A Lot At Risk
When 58% of our survey respondents answered that finding the right tenant was the greatest challenge of being a landlord, it is easy to understand why. A rental property is a major investment for landlords, and it is often saddled with a large mortgage liability. These days, a rental property is often a landlord’s former home, and the landlord wants a responsible tenant. Finding one saves time, property damage, and hassle. However, finding one can be a challenge. That’s why 65% of survey respondents stated that listing and showing the property was the most time consuming task. To help landlords find responsible tenants in the shortest amount of time, LeaseRunner provides comprehensive tenant screening tools in a cloud-based, affordable solution.
Landlords Are Looking For Online Tools
A surprising 59% of survey respondents were “accidental landlords”: those that are landlords by circumstance rather than by choice. These landlords turn to the internet to find information and access tools to manage their properties. Furthermore, they trust the cloud. This is why 73% of our survey respondents believed online leasing strengthened their relationship with their tenant. Landlords are also looking for online tools that are accessible by phone, tablet, and desktop. LeaseRunner does this, and I’m proud that our customers believe that our integrated applications, screening, leases, and rent collection saved them time and effort.
Joe Buczkowski is CEO of LeaseRunner.com. Joe has significant experience as a tech attorney, real estate investor, and finance instructor at the University of Colorado Leeds School of Business. Connect with Joe on LinkedIn.