LandlordStation Would Like to Announce TenantProtect

Posted in Blog  
  on Oct 18, 2016

LandlordStation is pleased to announce TenantProtect, the best way for tenants to protect their belongings and personal information.

The landscape of the the rental market is changing. According to Goldman Sachs, 60% of millennials in the United States ages 25-34 chose to rent rather than buy in 2013. It’s a shift that the industry has seen in recent years, and with that shift comes a need to reevaluate how tenants’ needs are being met.

Most software in the rental industry is focused in on meeting the landlord’s needs, which makes sense when you think of it in terms of that the landlord has purchased the home, therefore will have a steady need for such services moving forward. But in reality the tenant is the user. It is their rent payments that make the landlord profitable and by providing simple and well designed services to the tenant you are increasing the likelihood that they will stay for the long term.

Until recently, many people chose to rent only until they could make a purchase of their own. As the millennial generation pushes that purchase further and further down the line, they are remaining a steady part of the rental market. It’s time to approach their needs with as much care as we do the landlord.

LandlordStation has spent a considerable amount of time weighing these needs, and the end result is TenantProtect, a tenant subscription product that allows tenants simple, online access to protect their belongings and their personal information all from one easy place.

Rental insurance is a growing trend with both landlords and tenants. Many landlords will not hand over the keys to their new tenant until proof of rental insurance can be provided. While homeowner’s insurance would protect an individual’s belongings if a disaster hit, a landlord’s insurance policy on the rental property would not cover their tenant’s belongings. As people choose to rent for a longer period of time, it makes more sense to take these precautions that most would take if they chose to buy.

Homeowners can rely on timely mortgage payments to help boost their credit scores and provide a more accurate representation of their payment history across the board, but renters often miss out on this. A new trend of rent reporting helps give renters (often younger individuals that are looking to build their credit anyway) the same advantages that homeowners receive without locking themselves down into a mortgage by reporting their rent payments to the credit bureaus, allowing those timely payments to be reflected.

Millennials are handling more of their life online than any other generation, so it is important to give them a way to monitor their credit and prevent online fraud.  Especially since any impact to their credit can greatly impact their ability to qualify for future rentals.

LandlordStation is committed to providing a holistic platform for the rental industry that gives both landlords and tenants access to great tools like TenantProtect. Learn more at landlordstation.com/renter or by emailing us at info@landlordstation.com


Related

Fair Housing Legislation: A Primer

The Fair Housing Act was first adopted in 1968 and covers most housing in the United States. In 1988, the U.S. Department of Housing and Urban Development increased its power to enforce the... More


How to Write a Lease Covering All Bases

When it comes to writing a lease, every state and locality has its own set of rules and regulations. Nonetheless, there are certain general guidelines which you should follow to protect your interests... More


5 Home Repairs To Handle for Your Tenants

Your tenants have needs -- including maintenance on the space that they rent from you. If you’re lucky, you have reliable contractors who are always available when your tenants need them.... More


Selling A Rental Property With Tenants

Selling a rental property with tenants may be very straightforward; having a tenant in place can make for an unpleasant selling experience. Most real estate professionals will recommend allowing a... More


The Eviction Process in New York City

Evictions in New York City generally fall into two distinct categories, and each has its own process that must be followed precisely by the landlord. The most common reason for eviction is nonpayment... More


5 Easy Ways to Utilize Content Marketing for Off-Season Property Marketing

Seasonal rental trends may make you concerned about maintaining your overall cash flow and minimizing vacancies. One way to prepare for slower seasons is to look at your property marketing strategies... More


Four Ways to Entice Tenants to Stay

When you've found reliable tenants, you want them to stick around. Flipping your rental unit can be both a hassle and an expense; in addition to seeking out new tenants, you also need to ensure... More


5 Engaging Landlord Marketing Strategies to Attract Interest During Slow Periods

It's frustrating to enter into an off-season if you have properties empty. The end of the year is one of the biggest slow seasons, but any time of the year is fair game for vacancies. Leases end... More


7 Fantastic Property Management Marketing Ideas

To be a successful property manager, you've got to be able to market those properties under your control to potential tenants in a successful way. If you can't get people inside those... More


Time-Saving Financial Management Tips for Landlords

Being a landlord requires a significant amount of time and financial investment. One way to reduce the amount of time spent managing a rental property is to streamline how finances are handled. These... More