The idea of making passive income from a property is exciting. But the life of a landlord is not always as easy as you make think.
You have to collect rent, provide property maintenance, handle disputes and so much more. The good news is, thanks to technology, becoming a successful landlord has become a whole lot easier.
And if you keep reading, you’ll discover the 3 top technology tools for successful property management.
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- Online Rent Collection
Collecting rent can often be difficult. But thanks to technology, collecting rent is now a thousand times easier. Most of your tenants will purchase most things with a mobile app, and it’s now no different for rent.
Being able to accept rent payments online as a landlord means you don’t have to wait for checks to arrive and then deposit them into your bank.
In fact, landlords who have their tenants pay their rent via online methods receive fewer late payments as most of these payments can be automated on the tenant’s end. So even if your tenant forgets the rent is due, the payment will still go through thanks to the online payment apps.
What’s even better is when using these apps, everything payment is recorded and can be integrated with bookkeeping software which saves you so much time!
- Process Rental Applications
Rental applications have now been made easier with technology too. Tools like Rent Safe streamline the entire application process.
Your prospective tenants can fill in the standard rental application forms, and give you permission to run both a credit check and background check.
With one click of a button and from any mobile device, renters can submit their applications for review and add any co-applicants, co-signors, or references to create a stress-free and transparent application process. And all of the results are sent straight to the landlord for quick and easy review.
Thanks to technology, tenant screening has never been more organized, transparent, and simple.
- Manage Renter Repair Requests
Not only does technology make rent collection and application processes easier, but it also makes rental maintenance easier. For example, if your tenant reports a leak in the house, they can quickly report that leak using a property management app.
While reporting an issue, your tenants can upload any images and videos of the problem for your viewing. This then gets sent immediately to you for review, and take the necessary action on.
You can also submit approved contractors into the property management app, which allows you to quickly and easily forward any maintenance and repair request for them to fix. And you can pay any outstanding bills using the app too.
Your property management app will also keep a history of maintenance and repair requests so you can handle recurring problems in a more efficient manner.
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Want More Information on the Top Technology Tools for Property Managers?
We understand the importance of becoming a more efficient and therefore more successful property manager. Being a landlord is a tough job and getting any help you can to maximize your hard is critical.
That’s why we hope this post has given you an idea of some powerful ways that top technology tools can really enhance your property management.
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