Technology has been one of the constantly changing aspects of the 21st century. On one hand, pessimists talk about how technology has taken over our lives and making us lazy and on the other hand there are optimists who are constantly looking at silver linings. Similarly, Real estate is one such field that has been affected by technology more than others. From virtual home tours to home automation, technology has made living more comfortable than ever. If you’d allow us to explain, here’s how technology is changing the face of real estate :
1. Technology Spares no details :
You don’t have to ask around about the details of the neighborhood to finalize a flat anymore. With so many online platforms available, you can just enter the name of the area and find out the details about nearby restaurants, ATMs, markets, schools or colleges and transportation. You can check out the area online and decide whether you can imagine yourself living there.
2. Visiting a property without actually visiting is a reality now :
In this busy time, an owner who has listed his property for sale or rent, cannot afford to be available all the time to show their potential tenants what their future home looks like. Brokers can only entertain you to some extent and then charge a non-refundable amount just to be available to show your property. That’s where online renting platforms come to your rescue. Not only a potential tenant can check out your property online via pictures but also get a virtual tour of the property through 3D walk-through options. This process not only saves the time of owner and tenant both but also helps the tenant to shortlist properties they actually want to visit in person.
3. Now you can afford Co-living spaces designed for your needs :
Most Millenials like knowing more about the kind of people they’d be living with. More often than not, when you decide on a rented place, the chances of things going south are very high. Most co-living community managers make sure you have a comfortable stay at your new home by evaluating your personal details and matching them with other tenants.
4. You can find a perfect match online in no time:
We’re not referring to Tinder match here, this one matters more. With so many apps and other social media platforms as options, one can discuss beforehand the restrictions and availability of flats before deciding on that one perfect match as per your personality.
5. Home Automation to the rescue :
As the saying goes, ‘Modern problems require modern solutions.’ This quote perfectly fits the current scenario. Home automation is one such technology that has been adopted at different levels in the renting scene. Internet of Things (IoT) is THE new thing and home automation technology is making the dream of comfortable living, a reality. Currently, the home automation technology has forced builders and homeowners to regulate and upgrade their home electricals and appliances from the click of a button, along with ensuring safety.
6. A referral that benefits all:
Gone are the days when the middleman or the broker used to benefit from a tenant moving to a new flat. Now is the time of referrals that benefit both tenants and the owner.
Let’s assume you moved to a new flat as a tenant, you’re in need of new flatmates to share your rent and the owner needs his rent on time and both do not have enough time to look for a suitable match. That’s when referral codes come into play. All you have to do pass around your referral code and let the internet do what it does best.
The conventional method for renting out a place in India is making way for creative ideas and plans of action. The renting segment is now protected by the technology and benefits from it like no other field. Sure, technology has its downsides and real-estate is not untouched by it. But, with the advancements in technology, the renting scenario is improving too. A prime example of this is the co-living culture that has taken the whole world by storm and said to be a 100 billion dollar industry within a couple of years.
Author: Harshit Sharma