Technology has a huge impact on the way we lease, manage, and maintain San Diego rental properties. The platforms and software that we’ve invested in provides a number of benefits not only to our team, but also to the owners and residents we value.
If efficiency and modernization is important to you, make sure you partner with a San Diego property manager that values and invests in technology. The online and digital platforms specific to the property management industry have come a long way in the last decade, and there’s no reason not to enjoy online portals, electronic rent payments, and digital property inspections.
There’s no longer any good reason for property managers to use print ledgers or send out paper checks. If this is the way they’re still operating, it’s probably costing you time and money.
Let’s take a look at the impact of technology on modern property management. This matters because it influences the time that’s spent managing your home and the earnings that come your way.
Accurate Data Leads to Better Rental Property Pricing
Technology allows us to price your property more accurately. The rental value attached to your property has a huge impact on how long it’s vacant and what types of residents you attract during the leasing period.
Some landlords will visit sites like Zillow and Craigslist to get a general idea of how much they can price their properties for, but data based on tech-driven sources is far more reliable. Technology helps us gather accurate data to make the right pricing recommendations.
Tech-Savvy San Diego Leasing with Strategic Marketing and Self-Showings
Technology is especially valuable to property managers during the leasing process. To market your home effectively, a property manager can share your listing on dozens or even hundreds of rental sites thanks to software that syndicates a single listing. Posting a rental ad on each site individually is labor-intensive and time-consuming. Our technology eliminates that pain.
Not only can we share your listing across more platforms to get it in front of more potential residents, we can also gather important data that helps us to do a better job of ultimately leasing the property. We can track the results of your listing, including how many people view it, contact us, schedule a showing, and fill out an application.
Here’s what good technology can do during the leasing period to save you money:
- Vacancies are filled faster.
- We can screen more carefully.
By running credit and eviction reports online, we can have all the data we need in hours rather than days. It leads to a better quality resident.
Self-showings have become a critical component in marketing and leasing your rental property, and self-showings cannot be done without the right technology. Residents want to see potential homes on their own time, and without anyone else present. Lockbox technology and smart locks allow you to safely give access to your property when prospects want to get inside. While some landlords and property managers still like to show properties in person, this option helps with scheduling and also delivers a unique service to residents who prefer to see properties on their own.
Technology can also help us document the condition of your home before a resident moves in. Photos, videos, and notes are loaded into your file and can be easily accessed when the resident moves out and it’s time to do a move-out inspection.
Leveraging Technology for Online Rental Payments
Accounting software allows us to provide all the financial reporting that our owners and investors need. It’s a huge benefit to our team and to the owners we serve. This technology allows us to pay owners earlier and in the month and to provide a detailed and accurate statement of income and expenses associated with the property. Good technology allows us to automate all of our accounting, providing the type of transparency you need when you’re tracking income and expenses or filing taxes.
Paper rent is not necessary anymore unless your residents are committed to writing checks. We have found that online rental payments lead to on-time payments and a well-documented process. Collecting checks and money orders only adds to delinquency and gives residents an opportunity to be late. Residents find online payments secure and convenient. They can schedule payments in advance and even set up recurring payments every month.
Documenting Rental Property Repairs with Innovative Technology
With online resident portals, our residents can report routine maintenance issues and make repair requests online. This helps us document the work that’s needed on your property, and it keeps us accountable to what you and your residents need from us.
You’ll know exactly when your roof was replaced, when your appliances broke down, and when your plumbing was updated. The written record is helpful for preventative maintenance purposes and it also allows us to organize our response and schedule our vendors.
Having a maintenance history like this available to you can save you money on unnecessary repairs or help you make better decisions about when to replace something rather than repair it again. It also works to keep your residents happy; they’d much rather request maintenance online at their own convenience.
Technology can also help with the move-in and move-out inspections we conduct before and after lease terms. The inspection reports are captured electronically and provided to you, with dozens of photographs and all of our recommendations on maintenance, upgrades, and aesthetics. This inspection technology makes it easy for you to view quotes, approve invoices, and see what needs to be done at their properties.
We embrace technology, and we encourage our owners to make it a priority. If you’d like to talk more about how our investment in good software and automated systems allows us to manage your property better, please contact us at Walters Home Management. We love talking about the new tools that are available and the resources we’re willing to invest in making the property management process better for owners like you.