Top Technologies for Property Managers to Attract and Retain Tenants
Technologies for Property Managers
Technology is transforming the world in many respects. This includes how property managers attract and retain tenants. As someone who has been entrusted by the landlord to serve as a link between them and their tenants, you want to ensure both parties’ happiness and satisfaction. However, you cannot achieve this if you don’t have the right digital tools in your arsenal. Read on for five technological advancements transforming property management that you should give a go.
1. Automated check-in
To ensure the safety of your tenants and employees within a gated community, you have to set a strategy to verify the identity of people who access the property. Some property managers do this manually, but this can be hectic and may increase labor costs. Consider investing in ID scanning software instead and automate the check-in process. This way, you will simplify entry, improve your tenants’ safety, and free yourself up for more important property management duties.
2. Rent collection software
It is illogical to expect tenant checks to arrive on the same day. Some tenants will mail theirs early, some will do it on the due date, and others will be late by a day or two. Monitoring all these deliveries can prove time-consuming. You are also likely to miss out on tech-savvy prospective tenants who may find the entire process tedious. Online rent-collection software significantly reduces the workload for you and the tenants and portrays you as informed and caring.
3. Smart security systems
Tenants are more attracted to rental properties that are set up with their security in mind. Smart security systems ensure safety by simplifying the process of raising the alarm in the event of a security incident. While some tenants may have problems with some technologies, including facial recognition systems, most will welcome them as long as their use is explained. Talk to your landlord about replacing standard door locks with smart security locks. Note, however, that some jurisdictions do not allow the installation of smart locks while a property is occupied, so familiarize yourself with the local rulebook before making any changes.
4. Tenant engagement software
A property manager that is always in touch with their tenants solves grievances more efficiently and has a better chance of evoking loyalty. The best way to get around communication barriers is to utilize specialized software for two-way tenant engagement. There are many applications on the market that you can try out, but these are usually riddled with features that can make using them a headache. Instead, get a software developer to build one with basic functions. If possible, include a feature that enables direct communication between the three parties involved: the tenant, the landlord, and the property manager.
Incorporation of technology into property management is a sure way to boost efficiency and attract new tenants. The above technologies can provide a fantastic place to start if you run a young property management company or are new to digital operations. Make sure to talk to your clients about them and involve a lawyer where necessary to avoid breaking the law.
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