Being a landlord is just one of the many jobs that have changed dramatically thanks to the improvement of digital technology. While many functions of the job have remained the same, they have also changed in ways we never could have predicted even just a short few years ago.
It is hard to understand where it will go next which is why it is so important to understand what is so valuable to the job right now. There are many useful tools that landlords can use in the digital age to help streamline their work and here are some that might be useful to consider implementing.
While not always necessary, it is important to know if your tenants are going to be a potential problem. This is especially important for first-time tenants and renters with a limited background in references. The experts from MicroBlit says that using background checks online helps streamline the process and is a good step in the right direction for landlords in making their job more efficient. Part of being a good landlord means having accountability and this is one of the most important ways to achieve that. Background checks range from bankruptcy, credit checks, and criminal checks. These are all factors that need to be considered when taking on the accountability of being a landlord.
Property Management Software
If you are working remotely, or even able to visit properties on-site, having property management software is always valuable. Having an organized and reliable way to check on your managed properties with ease. These software suites can have an all-in-one set of tools to help you track expenses, manage your business models, maintenance reports, communicate with tenants, and many more useful features. For landlords that are planning on taking a lot of the bulk of the work, a property management software system is a good way to keep you in the loop of all your business dealings and allows you to bypass using a property manager.
Digital payment tools are the future of e-commerce or online business, and it is no different for landlords too. Being able to allow more flexible options for tenants is a good way to ensure that rental payments can be made on time and in their full intended manner. Making life easier for a tenant is just as important as making life easier for you. Happy tenants are usually better ones and means giving them a more accessible way to pay. Digital payment tools allow for more efficient means of payment too. Not only are digital payment methods more secure now than ever, but they also allow for a much better account of financial transactions and records for tax purposes, all of which are incredibly important for landlords and record keeping.
File Hosting and Storage
With the number of documents and other records that need to be signed and received by different people in the renting business, it makes sense why you need reliable file storage, hosting, and transfer. Using these file services allows for renters to send agreements and other documentation quickly, allowing for a more seamless way to finalize agreements. It is also very important that their personal information stays secure, just like their financial information, so these hosting and transfer tools can allow for some added benefits in maintaining the privacy of your tenants' files.
Listing Sites and Services
Of course, one of the most important tools is making sure that people can see when your properties are up for listing. Using listing sites and services as well as realtors to get your properties out to the public is going to help maximize awareness. There is a lot to choose from now too, which is a big bonus. The ability to list on multiple sites will help give you more of an audience, but there is also the need to choose wisely. Listing with realtors may come at a fee while independent sites can be a more cost-friendly alternative, the point being you should try to gauge all your options and figure out which ones are most popular to help drive up viewings of listings.
Becoming a landlord in 2020 is much different than it was just a few years ago. With all of these new technology developments, being a landlord is a lot easier too now. There are so many tools that are helping push this job to places that are helping it become more accessible and more efficient and these tools can help make that happen for you too.