Continuing advances in technology are making many professions, past times and parts of everyday life a lot easier. This is particularly true in the financial service sector, where even individual operators such as private landlords are able to access a wealth of technology that helps them to optimise their use of time and drive profitability.
As a private landlord, for example, there are now a number of technological applications that can be used to make your life an awfully lot easier, whether owning real estate is your full-time occupation or merely a profitable side line. From free smartphone apps to in-house items, technology makes it easier than ever to attract potential tenants, create time and cost-efficient processes and increase your bottom line margins in the market.
How to Effectively Utilise Technology as a Landlord
With this in mind, here are some simple and effective methods through which technology can be applied to ease the challenges facing private landlords: –
Access Landlord Applications to their full Potential
With concepts such as App Store optimisation (ASO) now enabling brands to achieve greater traction through their mobile marketing efforts, this sector is continuing to grow at an exponential rate. Thousands of brand new apps are uploaded to app stores for Android and Apple devices every day as a result of this, and there are plenty available which have been designed with landlords in mind. AroundMe and Inventory Pro can both be useful for organising tasks but there are specific ones on offer too, so it wise to compare the market to ensure that all available technology is being used to its full potential.
Rentr allows users to easily arrange all property viewings to avoid being double booked, for example, while it also uses the smartphone or tablet’s camera to help effectively market houses and flats. As a result of this, contracts can be drawn up and signed within a relatively short space of time, meaning that the app can minimise the amount of time that a property sits idle and create a more efficient process for landlords.
Integrate Smart Thermostat Technology into your Properties
On another note, technology can also help you to avoid your tenants wasting energy on properties where bills are included and those which are currently uninhabited with smart thermostat technology. These allow homeowners and tenants to access their property’s heating controls when away through online apps. Heating can be turned down or off when not at home if something else crops up or it can be set to a low temperature in preparation for returning. Ultimately, it offers an incentive to tenants to minimise energy consumption in the property by making this easier than ever.
Use Video Technology to market your Properties
Studies show that on average properties which are listed alongside professional photographs draw in 61% more views than those without. Modern technology means more and more landlords are now using video as the next step, creating short ones of their properties interior. This gives a better impression and saves a great deal of time that would otherwise be wasted with uninterested or casual renters. They can also be made for free using Open Source platforms such as iMovie and Windows Movie Maker.
Optimise the use of Secure Technology
Security is an incredibly important issue and there are now a huge amount of effective and affordable methods to adequately secure your properties. Motion sensors which connect to Wi-Fi and also your smartphone will give an alert when it detects movement, for example, while security cameras which also detect motion for both indoor and outdoor use transmit video footage directly to your phone, tablet or laptop. While these features may require an initial up-front investment, this will be repaid over time and provide considerable peace of mind to landlords.