Handling Applications: The key to a vibrant community

Long-term residential operators are constantly on the lookout for the RIGHT tenant that can help add value and vibrance to the community. However, finding the right match begins with a well-managed application process.

Why do we have applications for long-term rentals?

Let’s consider Unit 101, which is set to be vacant in two months. This means that the operator has a limited window to find the right tenant. Given this scenario, the workflow looks something like – 

The problem with this workflow is as follows: 

• Collection of Data from prospects is time-consuming: The application process often takes time due to personal and identity verification. Involving multiple decision-makers can further extend the timeline.
• Coordination and communication between prospects: Informing prospective tenants that their application is approved, or rejected is complex. This can be harder when operators juggle multiple applications and vacancies simultaneously.

This makes handling applications for long-term rentals a time-intensive, detail-oriented and manual task, which can easily become cumbersome. 

How does our system help enhance the user journey? 

Managing tenant applications for long-term bookings can be broken down into: 

• Centralized system to collect and store data: Our system has a dedicated page to handle all the applications along with all the details that operators want to capture. 
• Easy way to manage stakeholders: Our system will send emails to all prospects about the status of the application. Moreover, all internal stakeholders can parallelly review applications. 
• Configurability:  Our system provides configurability around 3 sections: 
  • Information captured – Personal information, Financial details, Residential history, etc.
  • Documents required – Passport, Copy of Visa, relevant national identity   
  • Application fee charged 
• Review and Approval: On approving an application, the other applications move to the pending state allowing operators to easily re-assign units and consider valuable applications that can add value to the community.