The Zillow platform now has the capability to help the apartment renting process continue, even as social distancing measures persist. Prospective renters can use the Zillow platform to find apartments and apply online, and all the paperwork and fees can be done online. Additionally, virtual tours can be completed using the Zillow 3D Home app, where landlords can photograph the unit. The company indicated that the process can greatly expedite the application process.
Overall the platform has packaged a number of different features that work together to simplify the apartment renting process and allows renters to find units even during uncertain economic times. The new bundle of features showcases Zillow's ability to adapt to a rapidly changing rental market.
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Key Themes Behind This Trend
- Virtual Apartment Tours
- Opportunity for real estate technology companies to develop innovative platforms for virtual apartment tours and streamline the renting process.
- Online Rental Applications
- Potential for rental industry providers to create online application systems that eliminate paperwork and streamline the application process for both landlords and renters.
- Remote Rental Transactions
- Opportunity for fintech companies to create secure and efficient platforms for online rental transactions, eliminating the need for physical paperwork and in-person interactions.
Where This Applies
- Real Estate Technology
- Disruptive innovation opportunity for real estate technology companies to create virtual apartment tour platforms and streamline the renting process.
- Rental Industry Providers
- Innovative opportunity for rental industry providers to develop online application systems that simplify the rental process and enhance user experience.
- Fintech
- Disruptive innovation opportunity for fintech companies to create secure and efficient platforms for online rental transactions, transforming the way payments and contracts are handled in the rental industry.
