Aug 4, 2022
Top 5 Technologies That Make Things Easier for Landlords
Making money as a landlord is easy. Right? You only need to wait at the end of every month to collect rent. Before you think being a landlord is easy, think about all the work of dealing with tenants, especially the stubborn ones, collecting rent, finding new tenants, staying in compliance, maintaining, and everything else involved in rental properties. Part-time landlords own a large part of rental properties. It means they have other matters to handle and day jobs.
Managing rental properties is not as easy as it may seem. Fortunately, some technologies have come to make work easier for landlords. Having these aspects has made life easier for both landlords and tenants. Check out these innovations below.
A large number of tenants confess they would choose a property with an online method of payment. Therefore, apart from making it easy to get tenants, this innovation has made it easy for landlords to process payments. Tenants can pay through their phones and computers or direct from the bank. This eliminates the need to knock on every door for rent collection or make lengthy calls. It is convenient, and the app automatically alerts the tenant when it is almost time to pay rent. It makes it easy to track the tenants who pay on time and those who are a nuisance.
Today, tenants can apply for a rental house without needing to meet with the landlord or the agency to sign or pick up the papers. There are apps and the best property management software that help landlords allow online applications and conduct background checks to ensure they don’t invite criminals to their property. The best thing is that the software and application apps are cheap, and the application is free. However, the landlord has to pay a small fee for background checks. It is a practical innovation that has lessened the burden of meeting with prospective tenants and screening them before allowing them into the property.
One of the significant roles of a landlord is to handle maintenance to keep the tenants happy and ensure their property is in good condition. It is also a compliance requirement for landlords to maintain their properties and carry out inspections. Whenever there is a problem on the property, it is vital to ensure there is an effective and practical way of handling the issue on time. So, how does the tenant get the service if they need it? Do they call you? How long will it take to get something fixed? Technology allows you to make timely maintenance requests so that you have issues fixed on time. Tenants can also send videos and pictures of the issues to know what they are dealing with. This way, it is easy to know the right expert to hire.
Digital Carbon Dioxide and Smoke Detectors
It is a requirement for rental properties to have a carbon dioxide and smoke detector. The technologies alert the tenants when there is something wrong with the premises. With a digital detector, it is also possible for the landlord to get notified in case there is excess carbon dioxide or smoke on the property. This way, you can alert your tenants and the fire department of an emergency.
Digital Security Systems
The landlord also must ensure their property is secure for the occupants. If you have a complex, you must have a way of keeping unwanted people outside. You must know who is entering or leaving the building. Therefore, having a solid fence and a security guard at the gate is one way of controlling traffic into the complex. You can also have facial recognition or biometric systems as security measures to ensure only authorized people are allowed in the building. Ensure your apartments have smart security locks rather than the standard door knobs. Another way of monitoring traffic is installing CCTVs for better security.
Landlords can choose many technology options to make their work easier. Even with a property manager, adopting these innovations make processes more manageable. It is easy for tenants to apply, easy to collect rent, schedule maintenance, and keep the property safe. The smart smoke detectors also alert when there is smoke or carbon dioxide issues so that it is handled quickly. Therefore, if you are a landlord, go through these technologies, and others, to ease the job of managing your properties. Look for the best management software or apps to make tasks easier and provide your tenants with the best convenience.