How Has Technology Impacted the Shared Housing Industry?

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Let’s address the elephant in the room that we all are surrounded by technology all the time. One way or another, we are either looking at a digital screen like you are RIGHT NOW, or we are making a phone call, talking to people overseas face-to-face, and shopping online in the vicinity of our houses. Isn’t it fascinating how technology has made the world a smaller place? So little that one can buy and sell real estate from anywhere in the country. We can look for room rentals and explore various shared housing options in a city away from the city, all virtually! 

Indeed the technology had a massive impact on the shared housing industry, and we can’t wait for what more it holds for us in the future. Every single bit of technology has affected the industry in some way or another. For example, realtors are no longer a part of the room rental search due to the presence of so many websites and mobile apps to showcase listings from around the country.

Anything and everything from IoT, Virtual Reality, and even in the future, blockchain will make a considerable change in the Shared Housing Industry and find that perfect room for rent

Let us address each of such technology in brief.

  1. Virtual Reality
  2. Mobile Apps
  3. Artificial Intelligence
  4. Blockchain
  5. Internet of Things

 

  • Virtual Reality

Virtual reality made home tours easy and, of course, free. You no more need to travel to a room rental to see what it looks like. A simple 360-degree picture is enough to give you a tour of the room rental while you are in the other corner of the world. Not to forget that due to the pandemic, VR technology has helped so many people to find a room for rent. 

 

  • Mobile Apps

Nowadays, people use apps for almost everything, right from ordering food to taking a cab; everything is in reach with a few taps. The fact that these mobile apps are practically the closest to the users and can be easily installed on smartphones has undoubtedly impacted the Shared Housing Industry the most. There is absolutely nothing to debate about them as the user can find room rental that qualifies specific criteria and can also compare the ones they like. 

 

  • Artificial Intelligence

 

Remember when we need to dig about the neighborhood’s crime statistics and average rent while looking up room rentals? Thanks to Machine Learning, aka ML, that learns for stats & user trends and provides us with all the required information of an area online. Machine Learning also helps in making better decision learning from what the previous users have done. 

 

 

Blockchain is a very simple technology that enables end to end transaction of information with extreme safety. The technology opens the channel to do money transactions with a medium, a bank, or a credit card. This technology would be a massive revolution in the Shared Housing Industry, and it is a relatively well-known fact that the industry deals with significant money transactions each day. Blockchains would enable much safer transactions. 

 

 

A considerable amount of information is recorded each day about each neighborhood using software and sensors. This information helps the user select the right neighborhood and know more about the area’s traffic trends. Before IoT was a thing, the relator had to maintain a load of paperwork and manually keep track of them. 

Technology has not only impacted the Shared Housing Industry but has a significant impact on humanity too. It is evident that we all are dependent on technology somehow, and you are reading this text from a digital screen. Technology has helped people to find a suitable room for rent easily. The saga doesn’t just stop there. We have been using several mobile applications to maintain finances amongst roommates staying together in the rooms for rent, make chore charts, and even ensure the rental security has used the IoT to install room sensors. 

There sure are many changes to come in the future, and they are awaited. If we specify and talk only about rooms for rent in the scenario, the rise of mobile applications and websites over the last decade has made a considerable impact as students, and young professionals can find affordable rentals easily. Since this is the primary target audience, we would see more of the future’s imminent technology. 

 

 

 

 

 

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