Digital nomads are workers who are not geographically tied down. Instead, they often travel to various countries and work out of coffee shops or coworking spaces.
As of 2020, there are nearly 11 million American digital nomads, and that number is anticipated to keep growing in the near future.
Even prior to the pandemic, digital nomads grew 49% from 2019 to 2020. Now that companies have readily embraced flexible and remote working, this number could grow even more.
Additionally, the ability to use mobile devices to complete work and growth of SaaS means that the pool of digital nomads is widening.
This is going to mean big things for the real estate industry as digital nomads look to rent out temporary homes from overseas.
In order to attract these traveling professionals, landlords will need to be transparent about the leasing process. Adopting the use of video tours, verified testimonials and ratings will help give brokers a competitive edge.
Streamlining the leasing process with technology will also be crucial. Services like DocuSign and Adobe Sign help landlords upload the required documents to sign the lease, which allows digital nomads to settle in their new homes as soon as they arrive.