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'Real Estate Rental Industry Must Crawl Out of the Dark Ages', Says Chicago Entrepreneur

With all of the innovations of modern business, one Chicago-based entrepreneur is calling on the real estate industry to better integrate with the digital age.


Chicago, IL -- (SBWIRE) -- 08/06/2012 -- Real estate rental agents may be answering their e-mails on smartphones and posting their listings online, but one Chicago entrepreneur believes that real estate rental technology still has a long way to go.

In fact, Eric Liu is actively calling on rental agents to move out of the ‘dark ages’ and into the present day.

“Most prospective tenants are still required to fill out application forms on pen and paper, meet in-person, and then drop off or fax documents," he says. "At the end of this madness, the agent is still required to decipher the squiggles and manually enter the information into a computer.”

“In this day and age, with so much technology surrounding just about every industry, you’d have thought that these prehistoric practices would have been modernized.”

A study by the National Apartment Association shows that 88 percent of tenants want to have the option of applying online, yet less than 10 percent of all apartment applications are processed electronically.

With a flair for business and a desire to make applications easier for his rental peers, Liu set out to change the industry himself.

The result is RocketLease.com, a new start-up that makes it easy for landlords and property managers to accept online rental applications, instead of their hard-copy counterparts.

The service is free, available to any landlord or agent in the United States and is so far reported to shave hours off the rental process for both parties.

“For landlords and agencies, Rocket Lease eliminates as much as 8-10 hours of work typically spent on processing applications that do not end in a lease signing. The site also allows property managers and landlords to instantly share their available rentals for free to shorten vacancies and improve communication,” Liu adds.

Of course, like any new service in the digital age, security and legitimacy is of the utmost importance.

In fact, Rocket Lease provides bank level security for processed applications; running credit, criminal and background screening checks for landlords. This easy convenience helps renters avoid numerous trips to rental agencies to fill out tedious pen-and-paper applications. Instead they can complete everything from an iPhone or iPad.

Liu is delighted at the industry’s initial response to his service.

“Rocket Lease has been used by landlords and renters in 41 states. This is proof that the demand is there. Our hope is that in the mid to long-term, applying for a lease and processing the application online will become commonplace,” he concludes.

For sample online applications, credit reports and a tour of the product, please visit Rocket Lease’s website at http://www.rocketlease.com

The site’s progress can also be followed on Facebook and Twitter.

About Rocket Lease
Launched in 2012, Rocket Lease is an innovative real estate company that provides common online applications and tenant screening reports to address frustrations that the paper application process is inefficient, tedious and time-wasting.