Who would have thought that two decades ago that something like social media would ever exist? And who would have thought that it would influence so many areas of life, even business? One of the areas it has impacted is the relationship between landlords and tenants.
Tenant And Landlord Screening Process Has Changed
Every landlord wants to know that they have a good tenant that will be moving into their property. And vice versa, every tenant wants to know they will be dealing with a good landlord.
All of us at some point have no doubt heard about a horror story about apartment living or living in a rental property, so it’s only understandable we’d want to know a little more.
Social media has definitely made finding out that information a lot easier. Social media has long been used as a screening process, particularly hiring by companies. However, it’s now also being used as a screening mechanism for both tenants and landlords to check each other out before they commit to any tenancy agreement.
This has caused a significant change in the dynamic of this relationship. Rather than relying on rental agencies to do the bulk of the work or even upfront questioning with each party, social media is now playing a major role in determining how this process unfolds.
Arguably, it’s given both parties a lot more power. It certainly aids the process of finding tenants and landlords who are reliable.
Now, finding out about the background and character of a tenant or landlord is a few clicks away. Compare this to all the questioning and paperwork required by rental agencies and you can see why social media has changed this dynamic for both landlords and tenants.
It’s Now Easier And Faster To Find Tenants For A Vacant Property
Rather than putting up an ad in the newspaper or even in online classifieds, you can now post a few social media updates to advertise your vacant property. This also has the added benefit of saving the landlord costs in advertising the property and arguably, can gain just as much reach depending on how far the post or updates are shared in the landlord’s network.
This approach also means you’re going through your personal network rather than relying completely on finding tenants you may not know. For many landlords, there is the obvious trust factor that plays a role in deciding who will live in their property, which is completely understandable.
When you go through your personal network, there is likely to be more trust between both the landlord and the tenant. While each party may not personally know the other and it could be the result of a referral from a mutual friend, there is still that greater trust and connection compared to finding people who both parties are completely unfamiliar with.
.This also aids the screening and background check process. If someone is coming from a friend or mutual acquaintance in your network, it makes a big difference in being able to screen good tenants and landlords.
Easier To Manage Tenancy After Move In
One dramatic way that social media has changed the dynamic in the landlord – tenant relationship is that it gives both parties the option to be friends or connected some way on social media.
Now while this may have its negatives, it also has its positive points. For example, the most obvious benefit is that it’s another way to connect both landlord and the tenant. You may be overseas and not reachable by phone, thus social media is perfect to get in touch. Perhaps, you just can’t reach who you need via phone; again, social media gives you more options.
This can be a very useful option in the case of maintenance when you can’t contact the landlord via other means. It’s also an easy way for a landlord to make sure that their tenants are doing the right thing and maintaining their end of the tenancy agreement.
Overall, what social media has done is take away some of the emphasis on using a rental agency and put a bit more control and power back into the hands of landlords and tenants. It’s given both parties a much bigger say and taken away certain aspects of the tenancy – landlord process that would usually be consigned to rental agencies.
If there is anything specific you’d like to know about tenancy agreements or renting out a vacant property, particularly regarding the legalities involved then get in touch with us today. We will help you clear up any issues you may have and give you a little piece of mind before you enter any tenancy agreement.