At What Point Do We Really Start Serving Renters?
Aug 16, 2018
by Barret Newberry | CEO leasera.com
I’ve used the following description before. The model of “I give you money and you give me shelter” isn’t enough! Today’s renter is increasingly savvy, digitally enabled and seeks the same value propositions they get elsewhere in our consumer-centric world. Why then do we still have a business model that makes as though shelter is the only privilege that a great consumer deserves?
We know that consumers are willing to go to multiple sites for the goods or services they seek yet due to clear success metrics, we also know if they can get it at a Costco wholesaler or Amazon, they will. They do this because savvy, digitally friendly consumers seek optionality, flexibility and cost effective purchasing. Additionally, if they can find the best price point or additional benefits to go with their savvy purchase, they will do that too.
Too many sites: if I want to travel for business, vacations, or simply rent long term, I’m sent in a dozen different directions because “term of stay” is the greatest challenge in the ecosystem. That’s not how consumers search and that’s not how consumers live. It’s just their only option and inhibits our ability to provide long term value to the consumer.
Business model: the model has been the same since the renting was a thing. Unless we look at this antiquated ecosystem differently, the model will always be, “I give you money and you give me shelter”. This will further fragment and divide renters and property owners to a greater opportunity of market capitalization, service and cooperation. Ignoring this fact is to ignore one of the fastest growing consumer markets in the world.
Term of stay: the idea that people rent on a schedule set by a lease is just not realistic. People rent from 1 day to 3 years and everything in between. People’s lives are complex and that flexibility isn’t supported through traditional leasing whether renting on a shorter or longer term. The greater the consumer demand and respective solutions in other industries, the more broken our rental market is shown to be.
The Solution Fundamentals:
Consistency: When shopping as a valued consumer through Amazon or Costco, you’re known, understood and therefore better served with the appropriate options, ease and flexibility. Your payment information and history makes you accredited, giving you access to other great benefits for being a part of that accredited community. Renting should be the same. If you’re seeking a vacation, traveling for business, a doctor taking on a new residency, military, or a renter seeking better service, you’re still a renter. All of your renting and travel habits should be served from one central location, increasing your cred and “unlocking” more doors.
Change: If we turn the corner now, we can capitalize on a massive and unmet opportunity. With a better model, consumers will be known, valued and shown appreciation for their loyalty and continued business. So too, property owners will have known, valuable and loyal consumers circulating through their properties while increasing NOI (net operating income) and reducing vacancies.
Cooperation: We’re not the only one who has noticed the challenges faced by consumers and property owners alike. We’re just the best company possible to link the pieces together and deliver an incredible, first time solution that effectively and meaningfully unifies a massive consumer base. As we progress, I’ll tell you more about how we’re changing the ecosystem by creating a single source of varied property types and partnerships, for a variety of renting and travel needs. We’ll also explain why this is a universal solution that serves us all as valued renters and resulting in a solution in high demand.
Whether you’re a property service professional, renter, owner, or investor, look for my next few blogs where I’ll discuss in more detail about how Leasera works and how you can join with us as we further build out the stay anywhere, for any duration leasing network. A new lease on life is coming to a door near you!
Stay tuned for more and please feel free to look us up at Leasera
Also feel free to check out my previous blog:
We’re Disrupting The Tired Property Management and Rental Market