Technology has changed the world we live in – and the property management industry is no different. If you own a rental property, or if you’re considering turning a current home into an investment property, you need to be aware of how tech is making the property management more efficient. You also need to make sure that your property manager is making the most of these opportunities to help you maximize your investment.
Marketing Properties
With the proliferation of online platforms like Zillow, Trulia, Hotpads, and many more – it has become exponentially easier (and cheaper) to market available properties to keep your vacancy rates low. An easy to navigate website and an active social media profile also goes a long way toward effectively marketing properties for rent.
More Accurate Reporting
Technology has made reporting property earnings and making projections easier and more accurate. This in turn makes it easier for property managers to make proactive recommendations based on market trends to maximize your earning potential on your property. This technology has allowed our industry to create an accurate and real time story line of your investment property from the moment you purchase it to the day you sell it.
Easy Payment Options
Online billing makes collecting rent and distributing funds to your accounts much more efficient than the traditional paper billing option. Digital invoicing is easier for tenants too – making the whole process convenient and easy to track for everyone involved.
Electronic Leases
Online leasing documentation also streamlines the process of placing quality tenants. These things have revolutionized the way we do business, cut our vacancy times down to a fraction of what they used to be, increased the security of information received and sent, made way for unlimited amounts of documentation, information and resources.
Tenant Repair Portals
One key element to a successful rental property is tenant retention. It is better for the longevity of your investment to keep quality tenants happy on your properties. The ease of making repair requests online is one added convenience property managers can offer your tenants.
Let us show you how owning a rental property in the Treasure Valley can be easier than you think with the right partner in property management.