The number of renters is multiplying. And Zillow is making moves to dominate that space.
Zillow’s new features aim to help renters navigate the process of finding a rental, communicating with landlords, and budgeting. This comes shortly after Zillow’s announcement of re-entering the iBuying space with Opendoor.
Demand for Rentals is Growing
New features, including a search filter and Renter Hub app updates, come as Zillow aims to take a share of today’s rental society, which continues to grow due to inflation and rising housing costs.
New Filtering Feature
Renters can now search for rental listings by move-in date on Zillow. The company states this new filtering feature has the potential to save renters thousands of dollars.
Today’s rental market is becoming increasingly competitive, with median U.S. rents going above $2,000 for the first time in July. The search filter is currently available on desktop and aligns the end of one lease with the start of another, “eliminating the dreaded ‘double rent’ scenario,” according to Zillow.
Now that the rentals market is more expensive than ever, ensuring lease start and end dates align is critical to avoid paying rent for two homes at once.
Zillow Rental Hub Upgrades
According to Zillow’s 2022 Consumer Housing Trends Report, 60% of renters said they used an app to search for a rental. Now, instead of having to switch back and forth from the Zillow app to their email inbox, renters can use the app for the entire process.
From the Zillow Rental Hub, renters can:
- See properties they’ve contacted and applied to
- Respond to messages from prospective landlords
- Manage their current lease and rent payment schedule
If you’ve ever been a renter, you know how stress-inducing the search process is. Sorting through emails and keeping track of all the landlords or leasing offices you’ve contacted is a hassle on its own….Our Renter Hub upgrades and new search filters give renters confidence they are exclusively seeing the homes that fit their needs—including their move-in timing and their budget—and that they aren’t missing any messages from prospective landlords, even on the go.
Additional New Features for Renters
Along with the move-in date search filter and Renter Hub updates, Zillow is working on additional tools and features to help renters. These include:
- Multilocation search. Currently available on the Zillow app, this feature allows users to find and compare rentals in up to five different areas.
- Bike Score® feature. Based on a scale from 1-100, the Bike Score gives renters an idea of how much bike infrastructure is available near the property.
- Renter profile in-app updates. More upgrades for profiles on the Ziller Renter Hub will be coming soon. These include the ability for users to share renter qualifications, desired move-in date, and amenities in their profile.
- Auto-complete and guided search. Still in development, this feature aims to improve app suggestions to include popular criteria based on region and location.
