Managing a property can demand a lot from me, as the landlord. If I have more than one place to keep on track, this means more work. The situation will escalate to overwhelming when I also have a day job I do not want to lose.
Thankfully, in the age of technology, different apps and software types are being created specifically for landlords to ease the burden and make managing a property more effective.
Traditional house hunting requires sending the application forms to a potential landlord through mail or taking them in person. Today, a lot of properties have online applications. This makes work easier for both the landlord and the potential tenant.
As the landlord, I can easily go through applications submitted online and quickly do a background check, ensuring all information is correct. Once satisfied, I can send feedback as soon as possible and wait for the touring date while still holding the conversation online in the meantime.
Online applications are a great and flexible way to get and vet potential tenants. However, some platforms could only be a delivery platform. This means applicants had to download application forms, sign them and then scan them to upload again. The process is sometimes tiring and can cause unforeseen delays.
With the likes of DocuSign and Dotloop, I do not have to worry about downloading several applications, print them to sign, and then go through the entire hassle of scanning to upload. I can easily sign digitally and have the applying tenants do the same. This will require a few seconds saving a tome of minutes.
Every tenant has a duty to pay their rent or lease money on time. As the landlord, I also have to ensure I make these collections on time. Unfortunately, I will not always be available on payment day, which can be an inconvenience to the tenants.
To prevent such hitches, many apps are now available to help landlords collect rent online. The likes of LeaseRunner, AppFolio, and Rentalutions offer flexible digital spaces for landlords and property managers to manage rent collection. Some charge per property while others per transaction. I could choose any depending on my preference and cost evaluation.
Managing financial transactions and keeping applications safe are among the most challenging parts of being a landlord. Automating these processes saves a significant amount of time while ensuring the tenant-landlord relationship is not bruised due to uncommunicated schedules or misplaced forms.
A financial app such as Property Buddy helps landlords not only receive money through the app, they can also schedule notifications for rent due dates and safe online receipts to keep track of every payment. I can easily prepare my tax info and save certificates, inspection forms, and signed documents in specific folders.
When the tap water is not running or pipes have broken, tenants want them fixed immediately if possible. Sometimes the landlord could be too busy with other significant responsibilities to keep track of every maintenance call. Fortunately, many landlord management apps now offer the option of tenants making their requests online, including uploading images of the situation.
Some of these application sites are even more efficient by directing linking tenants to a repairment company on behalf of the landlord. This way, the tenant gets their request on time, and the landlord follows up to ensure everything is being handled okay.
Aside from ensuring efficient transactions and communication between landlords and tenants, technology makes it easier for the landlord to manage the property while saving costs and ensuring security. Smart carbon monoxide and smoke detectors keep me updated if there is any fire situation that needs my attention in real-time.
Smart thermostats ensure energy efficiency by controlling temperatures in apartments after learning temperature patterns over time. This prevents thermostat overwork or having the landlord regularly check if the system is working efficiently and regulating it manually.