PropTech: Exploring the prerequisites to advance the digital innovation of real estate listings

Abstract: With an increasing population and decreasing housing supply, students in large cities get entangled in a societal crisis. Concurrently, the intermediary rental websites are scattered and insufficient. An emerging technology; PropTech is in the nascent phase, aiming to streamline the rental process by assisting target users. Through an exploratory approach, this study thoroughly investigated the sequences which prospective tenants encounter during the rental process. Simultaneously, their challenges and needs got examined. The data collection consisted of a landscape analysis, and semi-structured interviews combined with a focus group. The identified sequences which need to be incorporated into a rental PropTech platform are (1) Finding the listings, (2) Filtering the listings, (3) Contact with landlord, (4) Viewing the property, (5) Closing a deal, (6) Moving in, and (7) Post moving feedback. Throughout such a platform, it is essential to implement functions that support transparency, reliability, privacy, and feedback.