RentJuice launches Common Application, shakes up rental industry

RentJuice pushes the envelope. Again.

AGBeat first introduced you to RentJuice.com over a year ago, as they acquired one of their closest competitors was funded to the tune of over $6 million. Last fall, they introduced the first of its kind directory of rental industry insiders, blowing the doors off of what has long been a closed-door, almost secret network.

Now, they are attempting the impossible by launching a “Common Application” for renters to complete through their system either on their computer, iPad or iPhone, complete with digital signatures. A video demo is available here.

Common Application and the implications

In many markets, renters race against the clock to get available units, and with vacancy rates diminishing, this is becoming problematic. The new RentJuice “Common Application” is similar to Facebook Connect in that consumers fill out the common application once and their personal information can prepouplate any real estate office’s custom leasing-related forms including applications for separate rental units.

The company said in a statement, “The time-and-effort-saving Common Application is a key component of RentJuice’s new online leasing process, which gives renters working with a RentJuice broker the chance to initiate and complete the rental application process immediately. Landlords and agents can send a client a consolidated set of online forms for a property in their RentJuice account using a smartphone or tablet, eliminating the need to make a trip to the office. No pen and paper, scanner, fax machine or envelope is needed – applicants can even sign leasing forms online using a mouse or their finger with any touchscreen mobile device.”

RentJuice is already available in Boston, Chicago, Miami, New York, and was recently launched in San Francisco. Since the limited pilot program was launched in February, they say nearly 4,000 new lease deals have been created in these markets with RentJuice.

Security of the global renter identity database

The company says the service is more secure than sending scanned documents over email and that all personal information is password-protected in a 256-bit-security rental data repository. The company says that the details collected from consumers come standard with every RentJuice account – live and as a downloadable PDF – but the platform also supports the numerous, varied applications for which different landlords ask, simplifying them to the most common set of questions and information. Landlords and leasing managers that are RentJuice users can link into this global renter identity database to receive and compare applications easily – online, in one place.

“In recognition of an aggressive rental market, this is a giant step toward expediting the leasing process, bringing it almost entirely online in a completely unique way,” said David Vivero, CEO of RentJuice. “Online lease signing and the Common Application iron out a pretty complex process for renters while respecting the unique needs of each landlord or broker. It allows all business to be conducted remotely with just an Internet connection and mobile device – this is not just an app; it’s a way of doing business.”

About: “RentJuice is an online platform that allows property managers and landlords to instantly share their availabilities with partner companies for free to shorten vacancies and improve communication. The Company also offers a paid upgrade that provides agents, brokers and leasing offices a “virtual rental office,” available from a browser, iPhone or iPad. From powering a leasing agent’s Facebook page and WordPress website to offering outsourced data entry and automatic ad syndication to dozens of consumer websites such as HotPads, Zillow and Trulia, RentJuice makes every step of the rental marketing process simpler.”