SEATTLE, July 31, 2018 /PRNewswire/ -- Today, Zillow, part of
the largest rental network on the web, introduced new tools that give time-strapped renters a competitive edge and save landlords
the hassle and time of screening prospective tenants, performing background checks, and collecting rent.
Now, renters can apply for multiple rentals with one application – including background and credit reports -- and pay their
rent through new features on Zillow.
The 35 million renters who visit Zillow Group's rental sites and mobile apps each month want the rental process to be as easy
and seamless as other transactions in their life, like ordering groceries or booking a ride. According to the upcoming 2018
Zillow Group Consumer Housing Trends Reporti, the majority of renters want to send applications (59 percent) and pay
their rent (57 percent) online.
Many renters live in highly competitive markets and are on tight timelines – half of renters have less than three months'
notice to find a place to liveii -- so speed is also important. In a typical search, renters fill out three
applicationsiii with an average cost of $40 each, so a feature like online applications
will streamline the process and help renters secure their next home quickly, efficiently, while saving money.
New features on Zillow include:
- Online applications. For a $29 fee, renters can submit one application as many times
as necessary during their search within 30 days. The online application includes a credit report provided by Experian®, and an
eviction history and background check powered by Checkr®. Renters also can offer any additional context and explanation on
their rental and credit history.
- Online payment. Renters can choose the payment type -- debit or credit -- that best fits their needs. Renters can
also set up automatic payments. Property managers no longer need to collect payments, instead having them delivered directly by
Zillow Group.
"Renters tell us they want the entire rental process to happen online, from search to application to payment," said Zillow
president Jeremy Wacksman. "However, most landlords don't have the resources to offer these
services. We're excited to provide the technology to help renters and landlords have a better experience."
For landlords and property managers, not only do these new features remove the hassle and time commitment of managing
additional vendors for background checks and collecting rental payments, but they also can request and collect applications and
process rent payments within Zillow Rental Manager, the same platform where they manage their rental listings on Zillow. To start
accepting applications and payments, users simply need to enable them within their Zillow Rental Manager account.
Zillow
Zillow® is the leading real estate and rental marketplace dedicated to empowering consumers with data, inspiration and
knowledge around the place they call home, and connecting them with great real estate professionals. Zillow serves the full
lifecycle of owning and living in a home: buying, selling, renting, financing, remodeling and more. Zillow Offers provides
homeowners in some metropolitan areas with the opportunity to receive offers from Zillow. When Zillow buys a home, it will make
necessary updates and list the home for resale on the open market.
In addition to Zillow.com, Zillow operates the most popular suite of mobile real estate apps, with more than two dozen apps
across all major platforms. Launched in 2006, Zillow is owned and operated by Zillow Group (NASDAQ:Z and ZG) and headquartered in
Seattle.
Zillow is a registered trademark of Zillow, Inc. Zillow Offers is a trademark of Zillow, Inc.
Experian is a registered trademark of Experian Information Solutions, Inc.
Checkr is a registered trademark of Checkr, Inc.
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i The 2018 Zillow Group Consumer Housing Trends Report,
releasing in its entirety this fall, is the largest-ever survey of U.S. home buyers, sellers, owners and renters. The
survey asked more than 13,000 U.S. residents aged 18 to 75 about their homes – how they search for them, pay for them,
maintain and improve them, and what frustrations and aspirations color their decisions.
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ii According to the 2018 Zillow Group Consumer Housing
Trend Report, of renters that rented their previous home, 52 percent had less than 3 months notice when
they realized they would not renew their lease or would need to move out.
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iii According to the 2018 Zillow Group Consumer Housing
Trend Report, on average renters submit 3.3 applications when searching for a new rental.
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SOURCE Zillow