Nomadic Real Estate partnered with RenterResume on the first day of our product release into private Beta. We thought it would be interesting to learn a little more about what led Joseph Rieling and his leasing team to start using a new service for such an integral part of their business and what we learned surprised even us!
Q: So how did your application and tenant screening process work previously?
We were receiving over 200 paper applications/month on average, and each application was taking 10 minutes to enter data into our screening platform and then another 5 minutes to process payments. It was very time consuming and there was no profit margin. We were literally charging application fees equal to what it cost us to process them, and with the loss of time it became very frustrating. We would often lose applicants to other properties because we could not lock them down fast enough.
In this business the time between when a prospect submits an application and when a lease is executed is very crucial and needs to be fast. We knew it was definitely time to outsource all of our application and tenant screening needs.
Q: What led you to use RenterResume over other available solutions?
We decided to use RenterResume first and foremost because of the customer service aspect. They exhibited terrific responsiveness and understood exactly what we needed. Their platform to create AppLinks, review applications and see which applications have been started was very easy to navigate and understand.
Lastly, the results are immediate and accessible to our entire team on our dashboard and mobile devices.
Q: How have your application and tenant screening processes improved since?
The time stress associated with tenant screening is drastically alleviated. My team no longer needs to enter the physical applications into a system and process payments. Instead, prospects fill out one simple application and the results are on our dashboard, email and mobile devices within 2 minutes.
My leasing team can now focus on better lead response, scheduling showings and conducting showings vs.spending crucial time entering applications and processing applications fees.
Q: Have you seen measurable results in your business?
This product has undoubtedly allowed us to get 2-3 more leases every month which translates to $5,000-$8,000 in additional monthly revenue. Your service has allowed for one of the most frustrating components of our business to become one of the most efficient. The time in which we receive an application, have a decision from the owner and then get an executed lease is in some cases less than 24 hours.
Q: What would you say to other companies considering RenterResume?
RenterResume has a very impressive platform and exceptional customer service! You will save time in processing applications, and it allows you to view results in a clean and easy to navigate platform, make faster decisions and get properties rented in a more timely manner. Again, the customer service is also terrific!
If you’re still using paper applications and cashing checks, it’s time to step into the modern era! RenterResume is mobile and works on all devices and major browsers! Try it out on one property, and we’re certain that you will save lots of time. And, we all know time IS MONEY!