We have talked about technology in previous blogs, and the impact it can have both on the work we do as San Diego property managers and on the expectations that residents have when they rent from us.
There’s always something new to say about what’s happening with property management technology. This is something that is always evolving, and it’s delivering more automation and convenience all the time.
Which is a good thing. The technology is much needed, because real estate investors and property managers are finding themselves in an increasingly complex business. Rental prices, tenant selection processes, and legal requirements are always changing, making it difficult to stay on top of the latest trends and best practices.
Our access to the latest and most innovative tech tools is one of the best reasons to partner with a professional property management company in San Diego. While automation has had a significant impact on how property managers operate day-to-day activities, there is still much to explore in terms of understanding how technological advancements can continue to revolutionize each aspect of renting out a property.
There’s also still a huge need for human interaction and person-to-person contact. Property management is really a relationship business, and that’s another reason technology is so important. It allows more time for relationship building.
Let’s take a look at the way technology is transforming rentals in San Diego.
Data and Insights Allow for Accurate and Profitable Pricing
It’s just not possible to effectively rent out a property without pricing it correctly. Pricing is one of the most important parts of the leasing process, and it requires good data. That data is easily found with the innovative property management software we have. Property management technology allows us to price your property more accurately.
Your investment property’s rental value has a serious impact on how long that property is vacant and what types of residents you attract during the leasing period. Pricing plays a role in the marketing process and it impacts how much you raise the rent during renewal times.
You have to get it right. That’s why you need our data.
Don’t bother with sites like Zillow and Craigslist. You won’t get an accurate idea of how your property is actually worth. Technology helps us gather accurate data to make the right pricing recommendations.
Tech-Driven Marketing Strategies for San Diego Rental Homes
Technology has especially evolved when we talk about marketing and advertising your rental property.
We can share your listing on dozens or even hundreds of rental sites thanks to software that syndicates a single listing. Posting a listing on each individual site would be labor-intensive and time-consuming. Our technology eliminates that necessity and saves our leasing agents and managers a lot of time and effort.
During the marketing process, we can also gather important data that helps us to a better job of leasing the property quickly. We can track the results of your listing, including:
- How many people view it
- Who contacts us
- How many showings are scheduled
- How many applications we collect
This data tells us if the property is priced where it should be, and whether it’s receiving enough attention.
San Diego Residents Have Technology Expectations
Another area in which rentals have been transformed is the way tenant demands are taking shape. They expect the ease and convenience that technology can deliver.
Today’s residents in San Diego expect to be able to pay their rent online. This is good news for you as well as them, because our experience with electronic payments has shown that online rental payments lead to on-time payments. There are fewer late payments.
It’s also more secure to collect rent online. Those paper checks we all wrote at one time can easily be copied. Account numbers can be stolen. This does not happen with the secure online systems that we’re using to collect security deposits, rental payments, and other fees.
Tenants are looking for technology inside of their homes, too. They want digital keypads instead of metal keys that can be copied and lost. They want video doorbells and smart thermostats so their energy bills are not out of control. They want access to high-speed internet and lights and appliances that are energy-efficient.
The rental landscape has been transformed because not only are property managers using technology to work better, they’re also using it to attract well-qualified residents to the homes they’re renting out.
Technology Transforms Maintenance Processes
Most of our work as property managers seems to revolve around maintenance, doesn’t it? Technology has also evolved to help us provide more responsive and preventative maintenance. We’re able to document the condition of your home before a tenant moves in with photos, videos, and notes, which are easily uploaded from the property itself. This information is then easy to access when the tenant moves out and it’s time to do a move-out inspection.
Tenants can report routine maintenance issues and make repair requests online. This helps us document the work or the improvements that are needed on your property, and it keeps us accountable to the requests that come in from residents.
As an owner, you’ll also have the information you need to make decisions. You’ll know exactly when your deck was replaced, when your appliances broke down, and when your electrical wiring 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 is always evolving, and as you look for the right San Diego property management partner, you want to make sure you’re choosing someone who is willing to evolve with the industry best practices around technology.
Let’s talk more about the technology we use and how it can help us manage your investment properties with ease and efficiency. Please contact us at San Diego Residential Property Management.
