Hello from Ziprent
5 min read
New company, who dis?
We felt it was time to make our official introduction here at Ziprent. We have been busy building, tinkering, and evolving our property management product for the past year or so and are now ready to share it with you!
Ziprent was founded with the intention of creating a more transparent and efficient product to disrupt the antiquated property management industry. As property owners ourselves, we saw an opportunity to leverage technology and automate as much of the property management process as possible.
Focusing on tenant placement
Solving the problem of tenant placement started us down the path of creating a full fledged property management platform. Traditionally, when a homeowner wants to rent out their property, they have to go through the following tasks:
- Take photos of their property (quality varies)
- Create multiple listings for the various housing sites
- Manage all the leads from said housing sites
- Schedule either private or open house showings
- Perform tenant screenings
- Create and sign lease documentation
As you can see, it becomes a quite monotonous and time-consuming process to find the right tenant for your property. Being the technologists we are, we knew there was a more efficient way to handle this process.
We first set out to address the property listing aspect of tenant placement. It is logical to assume the more sites you have your property listed on, the better the chances are of finding a suitable tenant. We were able to develop an automated connection between our product and multiple housing sites (the Zillow network, Apartments.com, Craigslist, etc…) to quickly syndicate our property listing to their respective networks. This meant only having to upload high quality photos, once. Write a property description, once. Fill out properly details, once. You get the idea.
Lead Management and Showings
With the listing syndication handled, we were then able to aggregate all the various leads to one central area. This gave us a more holistic view of potential tenants for our property - enabling us to redirect all of the leads to a Ziprent specific property page. Prospective tenants can then schedule on-demand showings (no property manager or homeowner needed) whenever they are available. No more private / open house scheduling nightmares.
By routing all leads within seconds to specific beautifully curated property pages, we are able to attract the attention of the prospective tenants before other listings out there. And the fact that we can show the property to them that very minute (through our state-of-the-art showing platform) ultimately means that we have a higher chance of signing a lease with the prospective tenant.
Applications, Leasing, and Deposits
Once a person has seen the property, we automatically send them an application. They can fill out the application on their phone or on their computer. Generally, an application takes 10-20 minutes to fill out.
After receiving an application, we leverage our integrations with background check and credit check services to automatically submit the application for checks. Automated background checks are received within a few minutes, while more in-depth reference, landlord, and manager calls can take up to 24 hours. Once we have the results, we present homeowners with a detailed overview of who their potential tenant(s) may be. We use insights we’ve gained within our years of property management to make recommendations on who we’d choose as our tenant and provide detailed stats generated by our software to support that choice.
After consulting with the homeowner, we automatically generate a lease, and send that bad boy to both parties for their John Hancock through the inter-webs. Easy peasy.
If a landlord chooses to do so, we can even associate their bank account with their property within a few seconds. The tenant can then choose to send the deposit online after signing a lease agreement. This means the landlord will get the deposit in their account within 24-48 hours of leasing.
We give landlords the option to use our platform to continue to receive rents as well. Meaning the rent is in your account within 24-48 hours. No one in the industry does that faster than us, guaranteed!
We have found the above recipe to be extremely effective and efficient in finding suitable tenants for all types of properties. In fact so effective, that we bet we can find you a tenant for your property within 30 days or your money back. So far we haven’t had to pay anyone back.
Transition to Property Management
Our successes in tenant placement gave us the confidence to invest in expanding to full on property management. Being able to efficiently receive and payout rents without relying on the third party vendors was our first major hurdle. With the start of new year, we only have a few loose ends before we are able to confidently take on full property management. Stay tuned!