How Tech Can Attract The Best Tenants
901RES keeps on top of tech trends to keep finding and renting a home easy, especially for those relocating to Memphis
Modern tenants are tech-savvy and adept at searching for the best deals online. They recognize their value as ideal renters and expect professional property management that matches their standards. To attract high-quality tenants, landlords and property managers must rise to the occasion by being skilled, courteous, and prioritizing convenience throughout the leasing process.
The rental landscape has evolved significantly in recent years, driven by changing work patterns and economic conditions:
- Over 1 in 4 Americans (26%) relocated out of state in the past five years, with long-distance moves increasing in 2022 to approximately 4.9 million.
- Work remains a major reason for moving, accounting for about 16.1% of moves in the U.S. (U.S. Census Bureau, 2023).
- Employment-related relocations, especially in tech and remote work roles, are fueling this trend.
With the upswing in remote work in the last 5 years and a fluctuating housing market, many tenants are looking to relocate more frequently instead of buying a home.
Relocating renters can be great prospective tenants. Those moving for work frequently have a sense of urgency, as well as the bonus of already having employment lined up. Some employers will subsidize moves to new city, allowing prospective renters to have a little more wiggle room with finances.
Tech Can Benefit Relocating Renters
Virtual Tours:
Not all relocators have the opportunity to visit their new destination before move-in day, making virtual and video tours a valuable tool for them and their families. 901RES offers FaceTime and Zoom tours of our properties to prospective renters who cannot physically be there. We’ve found that the combination of professional photos, virtual staging, and video tours can be almost as good as touring a property in person.
Online Scheduling:
We also allow prospective renters to schedule their showings online through Tenant Turner. This allows them to pick a time and day that works best for them without having the back-and-forth emailing or phone tag to schedule with a leasing agent. 901RES still conducts 100% agent-led showings. Many property management companies have switched partially or entirely to self-showings. This means prospective tenants view your property on their own, usually by accessing a lockbox at the property. While self-showings sound great in theory, they are not only a potential security issue, they also prevent renters from seeing all the details and amenities of a property, as well as hearing about any rent specials or any similar vacancies. Agent-led showings also make sure we can answer questions ahead of time and build relationships with our future residents.
Online Portals:
Tech-savvy renters also prefer the convenience of online applications, payments, and maintenance requests. Again, this keeps prospective renters from having to play phone tag or make repeated trips to the leasing office or bank. While we do have some residents that prefer to pay in paper checks or sign leases in person, they are by far the minority. According to Zillow, 25% of renters said they passed on a property that didn’t include an option to apply online. In 2018, only 21% of renters signed their leases electronically, while that has increased to 43% in 2024.