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How has the way of renting a property changed?

From the confinement and restriction of activities due to the arrival of Covid-19 in 2020, the technology became a necessary tool in all sectors, including the property rentalwhich urgently had to transfer its activities to digital platforms, according to Paola Cruz, director of asset management at ALIGNMEX Real Estate Capital.

“Only, (in) 2021, a monthly average of 21.7 million searches were obtained in digital format, by people interested in (rent) a house or apartment, which represented 34% more than in 2020”, detailed the director of SìRENTA, a rental housing development company.

Therefore, for the specialist, having technological, efficient and fast tools is a differentiating element between tenants and those looking for rent your real estate.

From paper to digital

For the specialist, although it is still common to find advertisements for property rental95% of potential tenants go to specialized platforms to find a property.

“Know how to take advantage of technology to rent a property, it will be essential to promote their promotion, since it will not only benefit owners, but also construction companies, and real estate agencieswho are increasingly aware of the advantages and scope that digital media offer”, detailed the specialist.

Currently, he deepened, there are digital platforms that have optimized searches based on the following elements:

  • Price.
  • Location.
  • amenities.

Streamline processes

For the SìRENTA board, one of the elements that will enhance the building rental It will be to transfer traditional face-to-face procedures to digital platforms, especially those that are carried out when formalizing contracts.

“There are platforms that will help you verify the reliability of the person who is interested in rentbecause in less than 30 minutes, you will be able to share personal, payroll, credit and tax documents that will help you know if you are eligible or not, and how much your possibility of payment is, “said the directive.

Through the use of this type of tools, not only costs are reduced, but resolution times can be shortened to a period of about 24 hours, in addition, through electronic signature, agreements can be closed immediately once the corresponding verifications are available.

“Unlike face-to-face procedures, where investigations of dispatches through brokers or the delay of legal policies, lengthened the process up to 4 days”, highlighted the specialist.

Virtual tours, the new normal

Although, after the confinements, the members of the industry had to urgently implement digital processes to show the properties, the reality is that this model also represented savings in time and resources.

“Virtual tours began to become a trend, due to the saving of time and money involved in those interested in choosing the living place of your interest, since from the comfort of your home you can know the details of it”, mentioned the ALIGNMEX board.

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