Managing a property is a hectic task. And it gets even more difficult when you have multiple properties to cater to. So how do you juggle between living your normal life and property management? Or how do you balance your life and your business? That is where technology comes in.
Below, we have highlighted a few reasons why you should integrate tech into your rental property business to ease the burden on your shoulders and provide your tenants with the best property management services.
1. Create awareness of your rental vacancies
Your vacant two-story building won’t market itself. That is your job. And these days, marketing your rental property is more than affixing “for rent” signs outside the property. Instead, marketing your property involves creating a brand, reaching your target audience, and promoting rental vacancies using effective methods.
One of the best ways to fill your rental vacancy fast is by listing it on popular real estate websites. Lucky for you, there are a lot of these platforms, some of which attract thousands of visitors.
Of course, you can also leverage property management software to list and market your vacancies. This software automatically syndicates your rental listings to multiple property listing websites. So when tenants submit applications via these sites, they are automatically uploaded to your property management database. This is a perfect solution for rental property owners who have several properties, as it helps them save time.
2. Reduced property management costs
Property management expenses can eat up your finances. To prevent such from happening, we advise reducing your property management costs. And what better way to do that than embrace automation?
By embracing automation, many property management processes can be more streamlined, faster, and super-efficient. Thanks to the introduction of tech, property managers can automate repetitive tasks that would require manpower and a lot of time to complete.
● Data entry concerning potential leads
● Planning routine maintenance
● Sending out replies to basic questions
● Organizing and attending to tenants’ requests
To make their job easier, landlords can also leverage software that helps track how appliances and items are used in the property, including water heaters, air filters, etc. By doing this, they get to know when they are faulty and make a move to fix them ASAP, thus cutting the costs that would have been incurred if not fixed early.
3. Helps provide better service to tenants
Like landlords, tenants often screen properties before renting. In addition to inspecting the property’s physical features, they also look for certain qualities in the Property Management Company or landlord. One such quality is easy communication.
Tenants want to be heard when they complain. They want their concerns to be heard and acted on quickly and efficiently. And while many landlords find it hard to communicate effectively with multiple tenants living in their properties, the introduction of technology has streamlined and simplified the process.
Tech plays an essential role when it comes to communicating effectively. And one of the technology landlords uses to improve communication with tenants is property management software. This software, which can also double as an all-inclusive landlord-tenant app, doesn’t only allow tenants to make general comments, but it also allows them to submit a maintenance request.
That’s not all. Typical property management software also simplifies the rent payment process for tenants while it helps landlords receive their payments early.
4. Improved security and monitoring tech
Gone are the days when people relied on traditional security systems to keep them safe. While these systems were not a complete failure, their modern alternative has proven to be more effective in discouraging break-ins while securing life and properties.
For instance, the introduction of smart security cameras has improved property surveillance. This device, which can be controlled remotely, allows landlords to monitor the activities on their property from their mobile phones, tablets, or desktop devices anywhere worldwide. In addition, motion detection and recordings are also on point.
There is also advanced digital imagery, which is effective in recording movements regardless of how dark the surrounding is. This is a huge benefit for landlords, who can keep track of activities on their property anytime, anywhere, any day. But, of course, it’s also a huge advantage for tenants who can sleep well knowing that their systems are in place to keep them safe while deterring intruders or vandals.
Conclusion
Generally, the introduction of tech in property management has made it easy for landlords to manage their rental property easily and more efficiently. By investing in tools that make their property safe, automate repetitive processes, and ease the burdens of managing their properties, landlords can relax while expecting a higher return on their initial investments.