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April 30, 2020

posted by: LWS
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LWS Rental Market Update No. 7: Future-Proofing Your Properties for COVID-19 and Beyond

As property management firms adapt to the ongoing COVID-19 pandemic, questions linger around its long-term effects on the rental housing industry. Although it's been a challenging time for all, this situation has presented an opportunity for integrating new innovations and improving operations.  We'll use this time to make some observations around the lasting impact of COVID-19 on the rental housing market, and how property owners, operators, and marketers can leverage this time for future-proofing their businesses. In this post, we'll cover 3 key areas for property management firms to consider as they look towards the future:   Supply and demand Digital marketing  Asset control and investments  More Supply Encourages More Vigilance Short-term rentals enter long-term market  Recent reports show, COVID-19 has led to...
As property management firms adapt to the ongoing COVID-19 pandemic, questions linger around its long-term effects on the rental housing industry. Although it's been a challenging time for all, this situation has presented an opportunity for integrating new innovations and...

April 23, 2020

posted by: LWS
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LWS Rental Market Update No. 6: RentBoard Survey Uncovers the Top Trends Impacting Renters During COVID-19

  One of Rentsync's valued ILS partners, RentBoard.ca, recently conducted a survey that provides new insights around major topics impacting renters and property searches throughout the COVID-19 pandemic. In this report, we will outline the results from the survey and make recommendations based upon the feedback provided.   Survey Sample Size and Rationale    The following survey asked 700 RentBoard.ca users a total of (6) questions that heavily address their rental experiences during the ongoing COVID-19 pandemic. The feedback will help to build a narrative for property owners and marketers looking for direction during this uncertain time. It will help them to develop initiatives that offer a frictionless experience, attract more prospects, and position themselves favourably in the eyes of renters. The results from the survey are as...
  One of Rentsync's valued ILS partners, RentBoard.ca, recently conducted a survey that provides new insights around major topics impacting renters and property searches throughout the COVID-19 pandemic. In this report, we will outline the results from the survey and...

April 17, 2020

posted by: LWS
News/Blog Photo

LWS Rental Market Update No. 5 (COVID-19): Lead Volume Rebounds Across Canadian Provinces

  On March 19th we issued our first COVID-19 announcement upon initial reports of the novel coronavirus entering North America. At that time we revealed that lead volume was holding steady in the rental housing industry despite initial concerns. As "social distancing" escalated and non-essential business closures ensued, renters delayed their search, with the mindset that quarantine would only last a couple weeks. In addition, the banning of short-term rentals has caused an oversupply in the market, thus impacting lead volume.  However, within weeks, more clarity and support on the situation is helping to revive confidence in the rental housing market. The federal government issued the Emergency Response Benefit to support financially vulnerable Canadians, the number of COVID-19 cases in certain provinces has slowed, while renters and property owners are...
  On March 19th we issued our first COVID-19 announcement upon initial reports of the novel coronavirus entering North America. At that time we revealed that lead volume was holding steady in the rental housing industry despite initial concerns. As "social...

April 09, 2020

posted by: LWS
News/Blog Photo

LWS Rental Market Update No. 4 (COVID-19): Virtual Tours on the Rise, LWS Releases Update for Ad Syndication

  Reading Time: 7 minutes   Virtual-Style Tours on the Rise as Social Distancing Impacts Housing and Rental Markets LWS Releases New Virtual Tour Update For Ad Syndication   Since the COVID-19 outbreak, "social distancing" has caused in-person tours to scale back. As a result, the rental housing industry must provide a workaround to show properties to potential tenants. In addition to providing you with rental market data over the last few weeks, our team has also been working behind-the-scenes to provide you with a solution to this ever-pressing issue. Today we are pleased to announce our new virtual tour ad syndication feature. This feature allows users who have video or Matterport 3D tours in our system to now push them to their ads (via Rentsync). As of right now, the only ILS that supports this new automated ad syndication feature is...
  Reading Time: 7 minutes   Virtual-Style Tours on the Rise as Social Distancing Impacts Housing and Rental Markets LWS Releases New Virtual Tour Update For Ad Syndication   Since the COVID-19 outbreak, "social distancing" has caused...

April 03, 2020

posted by: LWS
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LWS Rental Market Update No. 3 (COVID-19): The Industry Takes on Oversupply and Rent Collection Issues

Reading time: 6 min 30 sec For anyone in the rental housing industry, April 1, 2020 was an unprecedented day in rent collections for many owners and operators. In this article we'll be sharing some industry best practices as we look towards an uncertain future, which we hope will guide your processes and policies moving forward.  But first, we'll broach a topic impacting many of our clients: lead volume and the threat of over supply in the marketplace. As we monitor lead volume week over week, there are some notable changes impacting the supply and demand side of the rental industry.  So, without further delay, let's get into it. 1) Are Airbnb's Creating an Oversupply in the Long-term Rental Market? As a mass exodus unravels due to COVID-19, hosts are left scrambling to fill their now vacant units with long-term renters. According to a column...
Reading time: 6 min 30 sec For anyone in the rental housing industry, April 1, 2020 was an unprecedented day in rent collections for many owners and operators. In this article we'll be sharing some industry best practices as we look towards an uncertain future, which we...