A recent survey, conducted by AppFolio, revealed that 44% of millennial renters found their apartments via a mobile device. Nate Kunes, Vice President of Product at AppFolio, suggested that the trend towards apps will continue to grow as smartphones and mobile products keep improving. As a result, rental listings are evolving and finally coming to the modern age.
This sentiment is in line with a recent LA Times article which we’ve summarized below:
“Mobile-app start-ups, online real estate giants and even old-school local listing firms are gearing up to streamline the splintered business of apartment advertising, looking to make it more reliable for landlords and more user-friendly for tenants.”
We live in a data-rich digital age, where consumers can comparison shop for just about anything, making this modern leap in rental listings, all the more necessary. For this reason, game players in the rental industry are adapting in different ways in hopes of making finding a new place less frustrating. As afore mentioned, newcomers and leading sites alike are making waves.
Here’s a few tidbits of what’s in the works:
- Newcomers to the scene, RadPad, is a mobile app that grew out of the frustrations of finding an apartment in LA. RadPad is a photo-driven app that generates apartment listings where visitors can share listings and contact property managers.
- Westside Rentals pre-dates the internet, they have been around for 18 years and are modernizing their ways. The listings they provide are exclusive and users must pay $60 for a two month subscription to access information.
- National websites, Zillow and Trulia, are breaking into the rental scene, prepping for a long-term play. Already successful with the bigger industry giants, Zillow is focusing on individual property managers partnering with different associations.
The future looks bright for rental listings as the process for finding a new place continues to improve.