For those used to their tried-and-true paper methods, technology doesn’t necessarily seem compatible with the life of a landlord or property manager. From marketing to leasing and beyond, useful tech tools can streamline the process of both gaining new tenants and assisting current ones. Software also exists to help with keeping track of leases, maintenance requests, and whose rent is due. These clever tech hacks can make your day-to-day management tasks easier than ever before.
QR Codes For Easy Marketing
Quick response, or QR, codes have gained more attention in the past year, particularly during the COVID-19 pandemic. They are contactless, small, and easy to create, all of which were perfect for businesses during the pandemic.
As a small, customized barcode, anyone with a smartphone can scan it and have quick access to information. A popular way to use these is in marketing. By putting a QR code on your vacancy or ‘for rent’ sign, marketing details or listing information will immediately pop up for potential tenants.
Potential information can include:
- A list of available vacancies and/or pricing
- Video tours of open apartments and amenities in a residential building
- FAQ about your property in multiple languages
- Local area information such as schools, public transportation, and restaurants
A QR code is a quick and simple way to get your information out into the world. Even if there are several next to each other, they can be modified so that none of them are the same. They are also novel enough that they will draw people’s attention. While being used for marketing in real estate, QR codes also transfer over to property management.
Property Management Software for Daily Tasks
There are many struggles that come with managing rental properties. But most, if not all, of this struggle, can be alleviated with the use of property management software. Here are some issues that may seem familiar:
- Going to the bank each month to deposit rent checks
- Losing track of both maintenance requests and lease renewals
- Struggling with marketing efforts and losing tenant leads
- Tracking rent payments and property expenses with Excel or in a notebook
- Manually adding up landscaping, pet, and late fees to each tenant’s balance
Nowadays, advances in technology have allowed for the development of software applications for property managers and rental owners. Incorporating the latest software helps to streamline daily operations and to boost profits. Finding responsible renters, keeping up with property maintenance, and organizing leases are just some of the activities that become easier with reliable software.
Going paperless is a huge benefit of these technological advances. No longer will you be plagued with receipts from 5 years ago that you forgot to file properly.
Transferring everything to the cloud or a central server also allows anyone that needs it, quick information access.
Having industry-specific tools also helps you to effectively manage your properties. Some of these include:
- Tenant portals for tenants to make maintenance requests, pay their rent, and communicate with you
- Owner portals for owners to review property performance
- Tenant screening that is connected to online rental applications for immediate tenant screening reports
Property management software is unique because it is built specifically with property managers and landlords in mind. Implementing it into your daily life and business means that it specifically caters to your needs and daily management tasks, rather than you needing to work around it.
Learn more: Do I Need Property Management Software?
Additional Tech That Landlords Can Utilize
There are a variety of other tech trends that can help boost both you and your property. Smart buildings are becoming more popular with the entrance of Gen Z renters. They may seem like a luxury but are beneficial for both renters and landlords. Smart homes are practical, safe, and economical, giving renters both a sense of security and less to pay in utilities. Smart homes also provide the opportunity to keep an eye on things even while on vacation.
Technology is a massive part of our lives, and even more so for the upcoming generation of renters. Their needs are going to be met with the inclusion of more technology in your physical units. To better market your properties, a knowledge of their wants is going to give you an advantage.
- Virtual showings: 360 virtual tours can be offered for rental properties, which is helpful for potential tenants and busy landlords alike. These are especially useful when a tenant is moving either to another state or across the country and does not have the opportunity to come in person.
- Artificial Intelligence (AI): Chatbots and virtual assistants make communication with tenants much more efficient. These AI programs are able to handle common questions, schedule or hold virtual showings, and get to know the preferences of potential tenants.
- Security Systems: Automated or smart security systems can be installed to give both tenants and property managers peace of mind. There are even options to give tenants the ability to watch video surveillance, reset security codes, and change permissions from their mobile devices.
Technology is easily put into the life and business of a property manager or landlord. The streamlined effect that technology has gives better chances to market, gain new tenants, and generally make your life easier.