How Tech Is Making It Easier For Landlord’s To Manage Rental Properties Well

How Tech Is Making It Easier For Landlord’s To Manage Rental Properties Well

People think that being a tenant is hard, but they definitely haven’t even noticed how difficult it is to be a landlord. Being a landlord means having to manage the rent collections, keep track of defaulters, remember which properties are vacant and which are not, and so much more. It used to be extra-hectic for the landlords in the past when there was no technology to help them out, however, in recent times, it has gotten significantly easier. If you’re a landlord who;’s still not leveraging the tools that are so widely available, you’re increasing your load unnecessarily. However, the reason why so many landlords still don’t use these tech innovations is that they’re unaware. 

In this article, we’re going to take a look at some of the most amazing tech marvels that are making the lives of landlords like you easier. Once you’re done with this article, you’ll be able to determine if you need to leverage these tools, and you’ll also be able to identify which ones you should be using. So without further delay, let’s get to it and find out how you can make managing your properties an easier task. 

1. Digital Payments

One of the most amazing innovations of the last decade has to be the widespread adoption of digital payment methods. Now, you can make a payment to anyone located in any part of the world just by opening your computer or mobile. It has become very easy to send and receive money, and you don’t have to worry about receiving rent from your tenants anymore. The instances of fraud have reduced dramatically as well, and it’s also been possible because of the digitization of currency. 

2. Real Estate Software Tools

When we talk about software intended to help landlords, we can keep on discussing it for hours on end. There are so many software tools available for almost everything from tenant management to accounting, it becomes almost impossible to choose one. You’ll have to take the help of multiple tools and using them all can be a hassle, which is why comprehensive real estate management software has gotten really popular with landlords. You can track the number and name of tenants living in your properties, you can check their rent status, you can also see if they have raised any issues, and so much more. So do yourself a favor and digitize your methods as well so that you have a much easier time handling things. 

3. Easier Maintenance 

With the increased availability of tools to track your maintenance schedules, it has become easy for landlords to administer regular maintenance of their properties. If you have a large number of properties under your name with multiple tenants paying bills to you, it can get really confusing fast. You’ll need to utilize a tracking tool that can be as simple as a spreadsheet to keep track of the maintenance of your properties. Even getting the damages repaired has become very simple as well, you can just contact a contractor on an app, and they’ll wrap up the repair for you without you even having to visit the property.

4. Advertising

Any veteran landlord can confirm that advertising their properties to buyers and tenants is one of the major tasks they have to handle. This has traditionally been done through newspaper advertisements, billboards, pamphlets, posters, and much more. However, none of these techniques of advertising your property are better than the internet. When you want people to view your property on the internet, you have to just click some pictures, mention the details, and wait for responses. While advertising traditionally used to cost a lot of money, and you had to put in more effort, it has become very easy these days. There are multiple platforms and apps where you can advertise without even having to spend a single penny. This alone is more than enough to highlight how drastic the changes have been since technology has started dominating our business dealings. 

These are some of the most significant ways in which technology has started making property management easier for landlords. Being a landlord can be a great experience if you can conveniently administer the different duties, and these tech marvels are making it easier to do so. Remember that there are many other new and more advanced implementations of technology, with more coming up every day. However, we have only discussed the most widely used ones, and you should also start using them if you don’t, before moving on to the more complex ones.

Author

Eric is the creator of At Home in the Future and has been a passionate fan of the future since he was seven. He's a web developer by trade, and serves as the Director of Communication and Technology for a large church in Nashville, TN (where he and his family are building a high tech home in the woods).

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