Why letting agents and landlords need to go digital and embrace channel shift

If you’re still wrestling with analogue processes, it’s time to start embracing digital technologies that can make your life easier. It’s not about using technology for technology’s sake, though – your key drivers should be to solve business problems and find new opportunities. Here’s why lettings agents and landlords need to go digital...

Times are changing – fast

Looking at where it makes sense to save time or reduce costs – or both – doesn’t mean you’re compromising on quality or providing a lesser service to your tenants. For example, think about creating inventories, and the dilemma isn’t about whether digital or traditional report creation is the way forward. Today, the challenge is to find the right providers and tech for a comprehensive range of flexible property management options that allow you to meet your customers’ requirements.

How much time could you save through technology?

When you’re facing reduced margins and rising running costs, increasing legislation and tax, it makes sense to work smarter. In fact, much of the administration involved in letting a property can be automated – research indicates that, typically, a letting agent may carry out up to 16 hours’ work every time a new tenancy is set up.

Meet evolving tenant expectations

People are increasingly used to getting what they want – and they expect it when, how and where they want it. They also want to be in control of their own data and their experience. So in terms of customer experience, you need to be ready to meet increasing expectations. How easy are you finding it to meet the quick turnaround times tenants want< from offering a property to moving in? The COVID-19 pandemic has only speeded up the expectation for digital solutions that cut down on face-to-face contact requirements.

Look for flexible solutions

Whether you’re vetting tenants or carrying out inventories, mid-terms and checkouts, IT solutions can make life a whole lot easier. Look for a supplier who can offer flexible solutions based on your landlord or tenant demographic and what matters most to them. Whether it’s speed, time or cost, easy online access to a flexible product range can make all the difference in meeting their needs.

Right to rent – an example of digital channel shift

Since April 2022, the digitisation of parts of the immigration system means landlords and lettings agents in England must check all potential adult tenants'. immigration status before a tenancy begins. This is a clear example of channel shift, as tenants can send scanned documents or a photo of documents for checks using email or a mobile app. In addition, landlords and letting agents must use the Right to Rent Online Checking Service on Gov.UK to view existing and prospective tenants’ immigration status. There’s no need to check physical documents when using the online checking service, as information about someone's Right to Rent is provided in real time directly from Home Office systems.

Are you ready to invest in technologies that will make you more efficient and effective today while preparing you for future tech capabilities? Read our blog post XX reasons to use property inventory software to find out more.