In our last post, we discussed how technology is changing the landscape of the commercial real estate industry. Over the next few posts, we will be exploring individual platforms and tools that are making a big impact. In this article, we’ll be taking a look at Rently, which offers a number of tools that make showing and viewing properties easier for both the property manager and the potential tenant.

One feature of Rently is its syndication feature to other listing sites. When you add a property, it will be listed on Rently.com as well as sites such as Hotpads, Trulia, Zillow and more. Auto-responses to inquiries are handled in real-time, saving the property manager from having to spend time responding to each inquiry.

The real value of the platform lies in its self-showing features. Prospective tenants register with a credit card and verified ID. When they go to view a property, they are given a one-time code that lasts one hour. After checking in upon arrival, the prospective tenants can walk themselves through the space and tour the property. This benefits both the tenants and the property manager, as it eliminates the need to coordinate viewings with busy schedules, and it enables the property manager to focus on other tasks.

Pros and Cons

Pros

The pricing is very straightforward, at $30/month per lockbox, which is different from other similar services that charge by the number of units one manages. It doesn’t make much sense to have to pay for spaces that are already occupied, so Rently’s pricing structure makes a lot more sense.

Rently also offers reporting on your showings, such as how many showings are scheduled, renter feedback and the amount of calls and emails received on a property.

Cons

The cons lie in Rently’s customer support both for renters and property managers. There isn’t a phone number that one can dial. Instead, questions are submitted via the chat functionality, and aren’t they aren’t always addressed immediately.

The other issue is that renters sometimes have difficulty when signing up to view a property. They receive error messages, and aren’t able to contact Rently directly. That leads them to have to call the property manager, who can’t always provide solutions to issues with the platform itself.

The general feedback we have seen is that Rently is a very useful and time-saving tool for property managers. To learn more, visit their site.