Using Technology to Streamline Property Management Services
As you’re certainly aware, keeping up with modern practices is essential for staying ahead of the competition. Using online resources can strengthen your management strategies and reduce your workload. Additionally, going virtual with your property management will not only save you time, but has become a significantly attractive feature for tenants. There are many different types of online tools you can utilize to make landlord activities simpler and more efficient.
Rental Payment Tools
In 2021, any kind of website or app that manages rent payments is a necessity for landlords. They allow tenants to pay rent easily, which is especially important for younger generations. Mobile-friendly rent payment and tenant-landlord communication is a serious draw for most renters and may even be a deal breaker if prospects are deciding between two or more similar properties. These apps will also simplify payment management and financial tracking. You can view all of your payments in one place and receive automatic deposits to your bank account. Other important features include automatically charging late fees, which incentivizes timely rent payments, and sending virtual reminders to tenants when rent is about to be due.
Property Maintenance Software
Having a standard system for maintenance requests is important for tenant retention. Also, you should keep proper documentation of maintenance and upkeep for tax purposes. A maintenance software will help you organize word orders and make maintenance requests simple for tenants. A strong property maintenance app should allow you to:
- Save and time stamp all requests
- Organize work orders by priority
- Show the request status to keep tenants informed
- Upload pictures and documents to add more detail to each request
Inspections during move-in and move-out are important for documenting the condition of the property. Mobile apps can aid in keeping this information organized and easy to access and can make the inspection process smoother. Although you should consider having a professional inspection at least once for each property, DIY inspections are easier with an app that offers an inspection checklist and organized photo storage.
There is a plethora of online tools you can use to store important documents related to your properties. Keeping documents organized in one virtual location is always a good idea. This kind of software doesn’t have to be specific to rental property, you can use Google Drive or another similar document storage app. You don’t really need paper copies of any documents if you have digital versions of the lease, inspection checklists, eviction notices, screening applications, and more.
Educational Resources and Legal Databases
In addition to streamlining your rental management processes, there are online resources and tools that can offer information about state and local laws concerning rental properties, which is extremely important information when it comes to writing leases or dealing with problem tenants. Websites like Avail have organized legal guides for each US state.
Additionally, some websites offer online training to teach the fundamentals of property management for new or prospective landlords. Official online training can be much more beneficial than trying to piece it together yourself, as it can provide personalized advice from experts. However, be wary of spending a lot of money on classes like these, because most basic information can be found online for free.
There are many apps and sites out there designed for landlords that claim to do all of the above services and perhaps more. Some of the leading software like Appfolio really do offer a full spectrum of management services effectively, and consolidating your online tools is a valuable asset and can make things more efficient. However, some people prefer to use different apps for different purposes, because generally a software that specializes in one thing will offer more comprehensive and polished services compared to a jack-of-all-trades software.
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