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Mastering Technology for Rental Property Owners
Guest Post by: Jim McKinley
As a rental property owner, you want to make sure your business is profitable and running smoothly. To do this, you must stay up-to-date on the latest technologies that can help you increase profits and manage your property more efficiently. In this blog post, Meghan Carroll of RE/MAX Elite discusses some of the top technology trends that can help make your rental business even more successful.
Include Virtual Tours of Your Property
Momentum 360 notes that a virtual tour is one of the most convenient ways to show potential renters a property without having to physically be there. With virtual tours, renters can see what a property looks like without having to leave their homes. This not only saves time for both parties but also allows you to showcase your properties in their best light from the comfort of potential tenants’ homes or offices.
Use Accounting Software
Accounting software makes bookkeeping easier for rental property owners by allowing them to keep track of income and expenses in real-time so they always know exactly how much money is coming in and going out each month. This way, it’s easier to budget and plan for future investments or projects related to the property. Additionally, it eliminates any guesswork when it comes time for taxes as all financial records are stored in one place which makes tax season less stressful.
Offer Tenants Online Payment Options
Gone are the days of paper checks or cash payments; Stessa points out that now tenants can pay rent online which is both convenient and secure. Setting up an online payment system will save you time processing payments because everything is automated – meaning you don’t have to manually enter each payment into your records or wait until checks clear before knowing if you have been paid or not. Not only that but most online payment services offer tenant reminders of upcoming due dates as well as automatic late charges/penalties if a tenant misses a payment deadline.
Invest In Smart Technology
Smart technology such as fire alarms, CO2 alarms, and thermostats make owning a rental property much easier and safer for everyone involved. Smart technology helps ensure safety within properties. These systems give landlords peace of mind knowing that their properties are being monitored.
Automate Home Security
With rental properties, it’s paramount to ensure maximum security is in place – especially when strangers are continually entering and leaving. Automated home security systems offer landlords the ultimate peace of mind while also bringing added convenience with features like remote access for monitoring from afar, motion detectors that alert them if someone enters without permission (or triggers an alarm), and video surveillance cameras. Together these provide comprehensive protective coverage whenever needed.
Manage and Organize Documents Easily
Are you looking for the best way to manage and organize documents quickly and easily? Look no further than PDFs. Using PDFs to organize business documents offers a secure, collaborative, and easily searchable format for storing, sharing, and managing all types of important documents. If you need to split up a PDF, you can utilize an online splitter tool—check this one out.
Technology has revolutionized how people manage rental properties. Investing in tech solutions such as virtual tours, PDFs, accounting software, online payment options, smart technology, and automated home security are some solutions that will help make managing your rental business much easier while ensuring its profitability over time.
Meghan Carroll of RE/MAX Elite listens to every client’s needs, providing them with friendly, caring and professional personalized service. Team up with Meghan today by calling 732-508-7402 or 732-870-6300!
