The pros for a tenant:
- More convenient - can access a landlord's web site to renew 24-7
- More options - typically have several renewal terms to choose from with longer terms earning lower rent and the option to selecting upgrades
- Additional perks - quick responders frequently get additional perks (UDR Inc. offers items ranging from a carpet cleaning to an iPad)
The pros for a landlord:
- Lower overhead costs - more interactive web sits lowers administrative costs in the long run while catering a web-savvy shoppers
- Less haggling over rent - by posting the options up front on the webs site, a web-shopping tenant chooses his or her options and is satisfied with the bargain; sending a letter with only one option more often leads to a tenant in the office wanting to bargain and taking up personnel time
- Ability to offer money-making upgrades - a convenience to both the landlord and tenant; a tenant receiving exactly the extras he or she wants is more likely to stay in place
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