As technology continues to advance, the business of investing in Eden Prairie rental real estate evolves with it. Though a couple of landlords may continue to use old methods of getting things done, it is far more lucrative and efficient for most rental property investors to utilize one or more of today’s top tech tools for real estate.
There are plenty of innovative tech tools out there that you could quickly optimize every aspect of buying and owning single-family rental homes. From property searches to leasing and everything in between, here are a handful of the tech tools that real estate investors of all kinds must know.
A.I. Real Estate Apps
Challenging property searches are a thing of the past when you use machine-learning real estate search applications. Based on artificial intelligence (A.I.) principles, these real estate apps offer users customized recommendations based on their interests and past searches. One of the most broadly utilized apps, Compass, is used by over 14,000 real estate agents to find and market properties nationwide.
Data Analysis
Another wonderful tech tool for rental property investors is data analytical tools. These tools will collect data on many levels, from national trends to your local market to each rental property you own. With this understanding, you can make better decisions and, at the same time, track emerging patterns to help you know where to search for your next profitable investment.
Social Media
If you haven’t previously harnessed the power of social media to help you find, buy, and manage your rental properties, you are passing up a great chance. You can market your properties using multiple social media platforms, communicate with other rental property owners and sellers, and build an online presence and reputation. These are all important aspects of building a profitable real estate portfolio.
Virtual Tours
Eliminate one of the most time-consuming portions of leasing rental properties by creating and presenting virtual tours online. Young adult renters have now come to expect to see virtual tours and other detailed information about a rental home long before they ever step foot in the door. A quick, unfiltered video tour of your rental property can help you narrow your pool of applicants and streamline the procedure of choosing your next suitable tenant.
Smart Locks, Keyless Entry, Video Monitoring
Smart technologies are turning up frequently in single-family rental homes, from smart locks and keyless entry systems to video doorbells. Many tenants are enticed by the security that these technologies deliver; they also give property owners an easy way to control access to the property and watch from a distance.
Process Management
Perhaps the most important tech tool that every Eden Prairie property manager needs is convenient, online process management software. These programs can help simplify a wide range of vital tasks, from exchanging documents to collecting rent payments, communicating with tenants, and tracking maintenance requests. Even though there are different process management software programs available, most of them are expensive.
An excellent solution to going it alone with your property management is to hire Real Property Management Viking to do it for you. We offer technology-enhanced process management software to our property owners, making property management a quick and efficient aspect of owning investment properties. To learn more, contact us online.
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