As a landlord, taking care of your tenants should be your top priority.
Check out these 5 top tech tools that will enable you to take care of your tenants.
1- Electronic / Online Monetary Transactions
- The quickest, easiest and most convenient way to make your life easier as a landlord is extending online payments to your tenants. Nowadays almost everything is done online and through apps. Keep the flow going by accepting electronic rent payments including deposits. This will get you your money faster than waiting on rent checks to arrive at your doorstep and then waiting for them to post in your bank account.
- Bonus, without having to wait for checks to come through the mail there will be way less late payments and in turn less late fees. Especially if you encourage your tenants to set up auto-payments to eliminate the chance of forgetting to pay their rent on time. There are tons of apps out there, now it’s time to find which one is best for you and your renters.
- Pro Tip: Find an app that allows several payment methods including both credit and debit cards and even ACH. This will make it even easier for your tenants to pay on time!
- Super Pro Tip: Integrate the app with your booking so you can track and record all tenant transactions which will save you time later.
2 – Electronic Documents & Signatures1- Electronic / Online Monetary Transactions
- Automated processes not only make being a landlord easier it also is beneficial for your applicants and renters too! When switching from paper documents to electronic, the list of benefits seems endless.
- Online forms such as applications, move-in inspections, lease agreements, rental documents and so on are great because there will be less delay in returning them because they won’t have to mail them or try to schedule a time that works best for both of you to meet in person. All information can be entered at their convenience with less opportunity for mistakes and there is no room for error (on your end) when it comes to deciphering handwriting!
- Online forms empower you to streamline your documents and information all in one place, like an electronic filing cabinet. Also, when your applicants complete their online application you can give the option to request permission to request references in addition to both credit and background checks. This is where they pay for the application and additional fees which you automatically get a copy of and no waiting for payment!
- When it comes to the actual lease agreement, simply complete what’s needed on your end (or have it auto-generate to save even more time) and send it to them via email. Once they eSign the electronic documents they can send it right back to you. After you also eSign the lease agreement electronically you can send them a completed copy right into their inbox.
- Again, keeping all of these in one place is convenient and concise with instant notifications in the palm of your hand.
3 – Maintenance Management
- Maintenance requests come in all shapes and sizes. With property management apps this extends the communication possibilities. Uploading photos or videos and an extended description empowers you to take the appropriate action while saving time from having to take a look at it yourself or guessing which contractor will be best to send over.
- Having these additional photos, videos and documentation can also help your contractor save time and in turn save you money. If you are able to quickly send over the information you have from the tenant this can save you time and money because they will know what they are getting themselves into before coming out, plus they will be able to bring the required parts with them.
- The tracking of maintenance requests and repairs are huge when it comes to looking at what’s best for your wallet long term. You can take a look at the log of your repairs and requests to see if there is a particular project that keeps popping up. Maybe it would be better and more cost effective to replace them instead of having to continue to repair them.
4 – Virtual Tours
- Tours without having to physically be there is a complete game changer for both landlords and prospects!
- Cell phones now have awesome cameras. Take the time to open blinds and turn on lights then take a walk through the home while taking a video. This video can be uploaded to your website, sent via email, etc. This video will give your prospects a real feel as to what the home looks like so they can decide if they want to schedule a time to come out. Talk about saving time!
- Install smart locks so your prospects can access the vacant home with their unique code. This allows them the freedom to tour at their convenience.
- Pro Tip: Schedule a video or phone call with them while they are touring so you can discuss details.
5 – Smart Home Technology
- Make being a landlord easier with the simple installation of smart technology in your rental homes. These devices give you the comfort knowing you can manage and monitor the heating, lighting, safety and security in your properties.
- The smart sensors notify you instantly if there are any safety, smoke or carbon monoxide detector issues. You will be able to check on your property and your renters in real time. Plus, your renters will also have peace of mind because you can enable them to receive notifications or even stream live videos too.
Being a landlord can be easier! There are endless tips and tricks to saving time and money.
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