The rental market has long been driven by the per unit fee model, where property management software vendors, like toll stations, charge landlords a set rate per rental unit (door) under management. However, a new model may be emerging that has the potential to disrupt traditional expectations between property managers and the vendors they engage. We may see a shift towards a transaction based model.
Ecosystem partnerships, such as Leasera and multiple vendors across hospitality, food and retail, are leading the charge in changing the traditional rental market model. These partnerships connect landlords with tenants, and tenants to the services they need, streamlining the rental supply chain process and providing added benefits for both parties.
One key advantage of the transaction based model is the ability for landlords to charge tenants only for the services they use (see utilization model). This means that tenants are not paying for services they may not need or want, and can access more personalized services on demand. If I don’t have a pet, I definitely want to pay for the concierge dog walking service. If I travel for a significant number of days per year, maybe I want to use loyalty points on hotels and rent out my parking space while I’m away.
According to a survey by Leasera, nearly 75% of landlords reported savings on property management fees by switching to a transaction based model. Additionally, 90% of tenants reported a better overall rental experience with the transaction-based model. This is primarily in response to more affordable and personalized options that support their specific lifestyle.
A transaction-based model also allows for greater flexibility and customization within the rental market. Landlords can choose which services to offer and at what cost, allowing them to better cater to the needs and preferences of their tenants.
There has never been a true ERP system within the rental market, primarily because the focus has always been on the property alone. Since Leasera’s release of REM (rental ecosystem management software), a more holistic view of our rental market is emerging. A transaction-based model encourages collaboration and partnership within the rental market ecosystem. Landlords and tenants can work together to find the best rental solution, resulting in a win-win situation for both parties.
Overall, the shift towards a transaction based model within the rental market is proving to be a valuable change. Landlords are able to save on property management fees and offer customized rental solutions, while tenants are able to enjoy a better overall rental experience. It’s clear that the transaction based model is the future of the rental market.
This is a new era of opportunity without being managed by property management software. This is REM.
LEASERA is the only rental ecosystem management software (“REM”) solution available to today’s rental ecosystem. Our rental platform offers a unified management suite equipped with an on-demand rental marketplace and loyalty system. We integrate connected travel accommodations and direct-to-door services like dog walking, food delivery, and ride sharing for our property management clients and their consumer communities. We provide fast moving property owners and a dynamic renter demographic with the benefits and options needed today. By serving our property management companies, and property investment groups, as well as our partnerships with hotels, travel rentals, investment groups, and more, LEASERA has ushered the rental ecosystem into a new era.
LEASERA offers our PMC clients added value across their long-term rental portfolios with consumer-loyalty, an intelligent leasing-as-a-service platform, and an integrated marketplace of supportive tools and service providers. Consumers gain rewards, empowerment, and flexibility. LEASERA is a portfolio company of Second Century Ventures, was named Plug and Play’s top 50 Proptech Innovations, CREtech’s Hot List as one of the “Top Companies to Discover in Real Estate” and as a “Leading tech site to discover” and has been dubbed years ahead of the market by industry investors, professionals, and insiders.
Welcome to a new life on leasing.
