Commercial real estate must join the digital revolution of our times and transform into providing innovative digital solutions
As College Housing expanded and our client’s business grew, the move-in and move-out processes presented a new challenge for our clients.
Tenants moving out often end up leaving furniture and household items behind which violates the trash laws of the City, possibly exposing our client to violations and fines and requires time and additional fees to remove, new tenants moving-in are often searching for cheaper furniture and household items to buy for their school year, and finally, existing tenants occasionally seek subletting to other tenants if they need to leave the lease and avoid termination fees. However, these challenges became opportunities for development and digital innovation!
EnovaWorx worked with our clients needs and developed TerpX, a virtual exchange platform where new and old tenants can get in touch and sell, buy, or exchange furniture, household items, school material, and more. Through TerpX tenants can also find other interested tenants to replace them through subletting. TerpX became one of the most simple and lovely solution for our users, with intuitive and effective features that truly help our clients.
At College Housing, Tenants moving-out were able to virtually list and market any items they are selling and connect with the new tenants moving in. New tenants are then able to purchase any items they need at a lower cost than new purchases. The purchased items are then left in the property with marked notes indicating that they now belong to the new tenants moving in. This way, old tenants were able to sell their items in an easy way and avoid dumping fees.
New tenants are able to purchase items at a lower cost and avoid additional transporting hassle and fees, and Landlords are able to avoid any potential handling of bulk trash left behind. Additionally, tenants in need to leave the lease are able to easily find a new tenant to replace them which prevents the tenant from paying lease termination fees and ensures that our client, the rental owner, maintains all leases on her properties without any interruptions to the revenue flow.
You can visit TerpX online at www.TerpX.us
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