Gone are the days where clients have to take the time to visit a bricks and mortar store to access available property; instead, the advent of the digital age has created a whole new level of potential, where clients can go online to view listings and communicate.
This transformation opens the door to a host of new challenges for property professionals, but the effect is overwhelmingly positive. This is nowhere more evident than in the student market, which consists of a body of tech-savvy customers ready to use PropTech to its fullest potential.
Here’s how leveraging PropTech can bring extensive benefits to landlords of student property.
Competitive, complex, and with a wide range of characteristics and geographical locations that can make them difficult to pin down, the student market can sometimes seem like a many-headed beast when it comes to marketing efforts. PropTech simplifies this, removing geographical limitations and immediately accessing the entire potential customer base. Using targeted ads, pay-per-click, Google AdWords and carefully placed online advertising in a variety of media channels will make the task of reaching a wider and deeper customer pool easier than ever.
Convenience and efficiency
A generation of individuals who are accustomed to using digital devices to carry out their day-to-day activities, the student market are at home on their smart phones, laptops, and tablets, and property professionals can use this fact to streamline processes. Property listings are easily accessible online, and the process of uploading extensive information about an available rental is incredibly easy once a degree of familiarity and automation is involved.
And the capability of PropTech now goes beyond the simple listing of property: students can submit information to support their application without having to make an appointment to come into the office; they can commit to a property and provide a secure deposit with just a few clicks on-screen. Communication is also painless, with instant messaging, email, and in-app comms being far simpler to negotiate than speaking on the phone.
All of these measures to simplify and streamline the tenancy process lead to a big saving in time and personnel resources, which of course leads to the eventual objective of the exercise: your bottom line will benefit from this increased efficiency.
Add to this an increase in business because of increased marketing potential, and PropTech represents a significant recipe for success.