In this technological day and age, if you are yet to go digital, you are behind the game. Pen and paper are largely a thing of the past, at least when it comes to running a business.
Technology is revolutionizing how we buy, sell, rent and advertise. Managing your rental property is no exception.
If you have never used technology to help manage your rental property before, take it from us – property management tools and apps will become your new best friend. The best ones are easy to use and super affordable. You will wonder how you ever managed your rental without them!
There are so many reasons why you should go digital – here are our top five:
1. Ease of Communication
A good landlord should be accessible and responsive to the needs of their tenants. If your tenant has a question or something that needs to be fixed, they should be able to contact you with ease.
Technology is revolutionizing the way landlords and tenants interact: whether it be through Facebook Messenger, Whatsapp, Gmail or Skype, landlords can have near-instant communication with their renters.
This is great news for landlords who do not live in close proximity to their rental properties and have previously had to rely on local property managers to assist. The next time your tenant needs you to take a look at something at the property, instead of jumping in the car, jump on Facetime.
This is also great news for tenants. A digital landlord means far less admin for renters. Writing a short email is far more efficient than sending a letter in the post. Your tenants will appreciate a landlord who is up to date with technology and knows their stuff.
2. Access to Information
As landlords, we have obligations and responsibilities that we need to uphold. These differ from state to state and can change over time. Staying up to date with the latest information can seem daunting, but now thanks to the wonderful world of the internet, we don’t have to stress quite as much.
The worldwide web is full of resources you can use to stay abreast of your responsibilities as a landlord.
Access to this information means you don’t have to be an experienced landlord to successfully manage a property. You can use the tools and resources for real estate entrepreneurs, independent landlords and property investors readily available online to jump ahead of the pack.
We recommend subscribing to your favorite blogs and their Facebook pages so that you can keep up to date with the latest news.
3. Online Marketing
While some landlords still prefer to use old school “For Rent” signs or adverts in the local newspaper, one of the more effective ways to secure reliable, respectful tenants is to use online marketing.
This can include posting properties on listing sites such as Zillow. By creating the perfect rental listing, you can make sure your rental advert receives a lot of traffic from high-quality tenants.
We also recommend investing in a website you can use to market your rental listings. This is especially important if you have more than one property and want to grow your business. There are plenty of content management systems out there, such as WordPress, that you can use to create your own website from scratch, without needing to hire a developer.
On your website, make sure you include your contact details (email, phone number, social media handles) so that prospective tenants can get in touch with you easily.
4. Technology for your properties
There are so many ways that technology can improve your property and attract higher quality tenants.
By installing remote security cameras, smart smoke detectors, smart burglar alarms, or electronic locks, you can make your home safer and more appealing to tenants.
Although investing in technology for your properties may require some initial investment upfront, if done wisely, you may be able to charge more in rent.
5. Easier Property Management
We have saved the best for last! This is by far, the most persuasive reason why every landlord should go digital.
Property management software is revolutionizing the way landlords operate. The best ones offer cloud storage, generate accountant approved professional reports, help you manage rent payments and assist with tenant screening.
We recommend Landlord Studio as your one-stop app. Landlord Studio gives you the modern rental tools needed to manage your rental properties with ease and have more time for the things you love. It has been tested by thousands of users and offers trusted customer support.
With Landlord Studio, you can keep track of income and expenses, automate time-consuming tasks. Communicate with tenants, schedule reminders, instantly generate comprehensive reports and more, all on one app. It is simple, powerful and intelligently designed. Better yet, the innovative team at Landlord Studio is constantly adding new features and functionality.