Technology is making life a lot easier for landlords, and if you have not yet explored the different platforms and software that’s out there, this is the time to do it. With the right tools and resources, you can automate a big part of the leasing, management, and maintenance systems required to successfully rent out a home.
From virtual tours to online rental payments, smart landlords will take advantage of the technology that’s now available.
Smart Homes Rent Faster and for More Money
Smart home devices include smart speakers, smart thermostats, smart locks, and video doorbells. Providing these set-ups or the installation availability for tenants to set up their own smart home will be a huge selling point when you’re renting out a Golden investment property. Smart lighting is another huge benefit that will make your property more competitive on the rental market. When lights only turn on when movement is detected in a room, it saves energy.
Online Tours and Virtual Showings
If the COVID pandemic taught us anything, it’s that in-person showings and open houses are possibly a thing of the past. Virtual tours are a great marketing tool for landlords and they will likely help you rent your property faster. They save time and they allow you to expand your potential tenant pool to residents who live out of state or may be relocating and need to rent a home without seeing it first.
Digital Background Checks and Applications
Paper applications are rarely used anymore. Instead, you can leverage software systems and digital platforms to gather the information you need on a prospective tenant and conduct a thorough background check. Just make sure you’re following all fair housing and fair credit reporting laws.
Several companies will run credit and background checks for landlords.
Once you’ve found and approved a tenant, you can use software and cloud systems to send leases and other agreements that need a digital signature. You’ll be able to store those signed documents and keep them filed online as well as in print.
Technology Helps Maintain Your Golden Rental Property
Maintenance and repairs are more responsive and cost-effective with good technology in place.
Call your tenant via Skype or Zoom or FaceTime if they have a maintenance issue and you want to get a look at it before you go over there. They can show you the issue via video feed and you can then make an informed decision about what to do next.
Online maintenance requests are also easier to facilitate and document with the right technology. Tenants want repairs made quickly, and you have a responsibility to make sure the property is kept in good condition. Online maintenance requests let tenants contact you about problems as they arise, including uploading pictures of what’s going wrong. Then, you can track the issue, make a report, and have a documented chain of events that you can use for tax write-offs or to estimate when work will be needed on certain parts of your property, such as the plumbing or the roof.
There’s a lot of technology that can help, but we know it’s overwhelming if you haven’t been working this way all along. Golden property management companies are good at managing all the technology that’s required to effectively lease, manage, and maintain your home. If you’d like to hear how we’re using it, please contact us at Laurel Property Services, Inc.