If there is one-thing property managers lament, it is the time spent chasing rental application referees. Michael Williams explains about his game-changing Tenant Options, and finds a genius Property tech solution to agents’ chronic time waster.
What Led To Tenant Options’ Creation In Property Tech?
My background is in real estate sales and property management and it was while in property management that the frustration of dealing with paper work, admin and processing of rental applications led to Tenant Options. I hit on this idea of an automated tool for managing referee communications and decided to take action.
If you want to streamline your processing of applications and save time, you need something like Tenant Options. It is an online efficiency program – agents are reporting they are saving about one hour per application. If taking a more conservative position, even if you are saving two hours per property, that is still a huge time saving. Depending on the size of your rent roll, that is the equivalent of one person’s time over a year servicing a large rent roll. It is important to stress this time saving is not about cutting staff numbers, but redirecting vast amounts of time spent chasing up referees over the phone into other areas that will grow the business, such as servicing your landlords, and strategic communications.
Our SmartReferencing® system is our main point of difference. This feature helps eliminate the manual process of reference checking every single application referee.
The biggest bonus to agents is the fact they do not have to spend untold hours on the phone chasing referees. They are wasting three to six hours per week following up applicants’ referees. That is a lot of time they could have redistributed to offering premium landlord and tenant service. Thanks to this tool, agents are getting a time-dated, written document from referees and avoided that “he said, she said” issue around referee collection.
By Michael Williams