Tech Trends in Property Management

In today's digital age, technology has become an integral part of any business, including property management. As technology continues to develop, property managers and landlords around the world are beginning to see an increase in efficiency and the effectiveness of their business through the use of property management software and smart home technology. In this blog post, we will explore the tech trends that are shaping the landscape of property management and showcase the impacts they have for rental owners.

Increase Efficiency With A Property Management Software

Having a property management software, such as Hemlane, revolutionizes the way your rental properties business operates. Through automation and advanced features, rental owners can simplify and streamline their tasks, while increasing their overall returns on investments. Here are some ways Hemlane can help you manage your rentals:

1. Online Rent Collection: Make rent collection easier and allow your tenants to submit the payments online. Track all payments and get updates when you need them!
2. Repair Coordination: Your tenants should be able to easily submit repair requests online and get real-time responses. Chatbots can even help with deescalation and troubleshooting.
3. Tenant Screening and Placement: When you are looking for a new tenant, an online application and credit, background, and income check will not only speed up the process but verify the tenant is capable of paying rent.
4. Financial Reporting: Generate automated, real-time detailed financial reports, offering clear insights into income, expenses, and overall property performance.

Make property management a more passive source of income through automation! Visit our site to learn how more about our services, including preventing evictions.

Make Your Rentals Secure With Smart Home Technology

With cutting-edge technology at our fingertips, living spaces have become more convenient, efficient, and secure. With the use of smart home technologies, you can improve your daily operations while bringing peace of mind to both you and your tenants. Here are a few ways smart home technology can benefit your rental business:

1. Keyless Entry: Smart locks allow tenants to securely access their properties without traditional keys, reducing the risk of lost or stolen keys.
2. Remote Temperature Control: Smart thermostats allow tenants to adjust the temperature of their homes remotely, saving energy and enhancing comfort. Tenants will appreciate this savings, especially when they pay the bill.
3. Enhanced Security: Smart security systems offer features like video surveillance and real-time notifications, improving the safety of rental properties.
4. Smart Lighting Systems: These systems allow tenants to control lighting fixtures remotely. This can improve the energy efficiency at the rental and give peace of mind when they are away from the property.

By incorporating smart home technology, you can not only provide convenience and peace of mind to your tenants, but it can also save you money and enable you to manage your rentals remotely!

Manage From Anywhere With The Cloud

Cloud-based solutions can provide landlords and property managers numerous benefits to their rental business. These easy to implement solutions can significantly improve the efficiency of the rentals while bringing increased organization to your business.

By using a property management software, like Hemlane, you can upload or create documents directly on the platform to help safeguard them from physical damage or loss. By uploading documents, such as lease agreements, tenant information, and other property management related data, you and your team will be able to organize the documents and easily find what you need regardless of where you are in the world. Hemlane securely stores your documents so you can skip sorting through hundreds of physical files in your office and quickly download what you need with a click of a button!

A cloud based platform can further enhance the communication between your team and your tenants as messages and notifications will be sent through various channels. Take Hemlane for example, when sending messages to your tenants, they receive both an email notification and text message. By sending messages to multiple channels, you can increase the chances they see and respond to your message. These messages will also be documented on the platform so you can refer back to them at any time. From small updates, such as a notice for street cleaning to coordinating repairs with your tenants, having a system that updates in real-time is essential.

Find Tenants In No Time Through Online Rental Advertising

As a rental owner, you know the importance of reducing vacancies at your rental properties. This is where technology can help you reduce that time. With the use of technology, you can list your rental properties online with a click of a button and get it in front of hundreds of qualified tenants. When it comes to advertising your rental, you can utilize these tools to help you find your next tenant:

1. Online Applications: By requesting applications online, it allows property owners to process applicants at a much faster pace. Applicants can submit their applications at any time without needing to visit the office or property. Online platforms, like Hemlane, enhance the organization for applications as the applicant can upload supporting documents altogether.
2. Online tenant screening: Incorporating online tenant screening to your operations will streamline the process as you can have tenants submit their applications and complete a tenant screening at the same time! By partnering with Hemlane, you can receive a tenant screening from TransUnion which provides insight on their credit report, background check, income insights, and provides you with recommendations on the application.
3. Virtual Tours: Through virtual tours, property owners can organize remote tours using video conferencing tools, eliminating geographical limitations and saving time for both parties.
4. Self-Guided Tours: Hemlane facilitates self guided tours through Leasing+, allowing potential tenants to view properties at their convenience, even outside traditional business hours. Self guided tours allow the prospective tenants to explore the property independently and immerse themselves in their future home which can translate into increased interest and commitment to your rental.

Incorporating Technology Into Your Business Today

Technology has transformed the property management industry, bringing numerous benefits to rental owners. By embracing property management softwares, smart home technologies, and cloud storage, you can greatly optimize your operations, enhance tenant experience, and ultimately increase the return on investments for your business. Try Hemlane for free today and streamline tasks such as rent collection, repair coordination, tenant screening, and financial reporting.