Technology is helping everyone’s lives and work become easier and more efficient. This is true for landlords as well who can utilize multiple new technologies to manage their properties. Here are just a few ways that technology is helping landlords better manage their properties.
1. The Cloud
Balancing being a great landlord and enjoying life can be tough sometimes as you need to be available for tenant issues and getting paperwork completed with potential tenants. Thanks to the cloud, you can now travel and have access to all of your documents more easily. Having all your leases, rental applications and other documents in the cloud means you can access them anywhere, whether it be for reference or to finalize an agreement when you’re not near a computer. With this new technology, everything can be pulled from the cloud.
2. Smart Door Locks
Utilizing a smart door lock can make property management easier because you can assign access to certain individuals for a set amount of time. This way you don’t have to copy multiple keys for tenants. It can also allow you to give access to contractors or other maintenance professionals to the property without having to physically be there.
3. Online Rental Payments
In today’s world, you can pay for pretty much everything online, so paying your rent should be no different. Setting up an online payment system for your tenants is a great amenity for tenants because it is more convenient, but it can also be beneficial to you, the landlord. Without having to wait on paper checks in the mail, it frees up your time. It’s a much more efficient means of collecting rent than waiting for a check in the mail.
4. Project Management Software
Utilizing some type of project management software can help to get rentals more organized. The size of your rental portfolio will determine which software is the best for you. With management software, you can keep track of properties to get them ready to rent, items that need to be repaired and keep track of other appointments like regularly scheduled maintenance. Most of the project management software allows multiple users to access it so that you can collaborate with other people you work with.
Marketing your properties has become incredibly easy with the internet and especially with social media. Posting your properties on all major real estate sites and to your social media channels is key to getting them rented. To increase visibility, find a Facebook group for the community in which the rental is located and post your property for rent.
For more on technologies that can help you and to find out which technologies I use that can help you with your rental properties contact Lang Allan & Co. directly.