Smart landlords are always looking for ways to make their lives easier. You’re juggling tenants, maintenance requests, showings, and screenings. Why not automate everything you possibly can, leaving yourself with more time to do what really matters?
Adopting these four tech tools will help you and your tenants have a better rental experience in Orlando.
1. Smart Locks for Self-Showings
The right technology can reduce your leasing time by allowing tenants to see available and vacant properties on their own, without waiting for your schedule to allow for it.
Self-showing technology has made a big difference in the speed with which applications can be completed, tenants can be screened, and properties can be filled. You should be welcoming prospective tenants to see your property without you.
Some of the best tools to facilitate this include digital keys, smart locks, and upgraded lockboxes. The process is simple and secure: you collect some identifying information from a potential tenant, and then give them access to the property they want to see for a limited amount of time.
Tenants appreciate this technology because they can see properties at times that are convenient, and they get the place to themselves while they’re looking around.
2. Online Tenant Screening Tools
Paper applications are outdated and inefficient. If you hand a tenant a paper application to fill out, they’re going to bristle at the inconvenience of it all.
Instead, accept online rental applications. This is not a difficult technology to access, and while you may not feel like you have the online systems to provide this, there are plenty of third party providers who can generate a legally compliant rental application online.
Once you have an application submitted, you’ll have to screen your tenants. The tech platform you use for your online application will typically offer screening services as well.
The process of screening applicants is not easy, especially with the vast fair housing laws, the intense background checking that needs to be done, and the sense of urgency that comes with wanting to approve a tenant before they can start looking elsewhere.
Technology helps you do it faster and more accurately when you invest in the right platforms and tools.
3. Online Accounting Software
Access to financial reports and accounting statements should be easy.
You need to know where your money is and how your property is performing. Otherwise, how do you know where you stand financially?
Tracking the income and expenses associated with your central Florida rental property is a lot easier with good technology. You should have a software system in place that:
- Tracks when rent is received
- Provides accounting reports
- Generates financial statements
- Prepares for tax forms
- Notifies you when rent is late
Financial apps exist for landlords who don’t have a huge portfolio of properties but still like to keep track of their money. You should think beyond the basic spreadsheet and use a system that will help you reach your investment and financial goals.
4. Video Doorbells
Video doorbells are incredibly popular, especially among single-family homes, condos, and townhouses. It helps your tenants to feel more secure. They can see who is at the door before they decide to answer it. They can download an app that shows them who is approaching their home even if they’re not there. Delivered packages can be tracked.
These are four great investments in technology that will make your life as a landlord easier. We’d be happy to offer some additional advice on technology or anything pertaining to local property management. Contact us at Park Avenue Property Management. We work in Lake Buena Vista, Orlando, Kissimmee, Celebration, Maitland, Altamonte Springs, West Palm Beach, Tampa Bay, and throughout central Florida.