Tech to Help With Property Management in Silicon Valley
The world has quickly modernized, and landlords and property managers alike who haven’t evolved with the times and all the new devices and tools are at a disadvantage. Tons of great tech options–free or paid—can benefit a rental business. You must understand all of your options and what they can accomplish for your investment as a landlord.
In this article, we will closely examine must-have tech for rental properties in Silicon Valley.
Easy Property Management Tools You Can Utilize
You will likely find several software options online that you or property managers can use. Some might be free, some selected features can only be accessed through a subscription, and others will require a one-time fee. You can easily research which software has the features to best fit your style of management. Things tools can help you with include the following:
- Processing of Applications
- Screening of Tenants
- Collection of Rent
- Management of Maintenance
- Accounting of the Property
Smart Home Technology You Can Utilize
The property management industry trends are seeing a shift in emerging technology, particularly when it comes to the safety and security of a property. Some technology is relatively cheap and can be easily installed in rental units for tech-savvy tenants, while others can benefit from the rental business as it helps retain a steady flow of tenants. Popular tech that is used includes the following:
- Smart Lighting: Smart lights can offer scheduling features that will automatically turn off the light to save you money per month with reduced energy consumption. It will remove another task to do on your list.
- Security Systems That are Smart: Smart locks are popular in property management as they are more secure than physical keys that can be easily lost. Some products will let you generate PIN codes that are valid for the duration of the stay that security biometric locks provide.
- Smart Thermostats: Like smart lights, a smart thermostat helps manage energy efficiently. With controls that are automated in smart homes, energy efficiency is easily achievable, and property management is easily done remotely.
- AI Assistant: Prospective landlords can easily access available virtual assistants such as Siri, Google AI, and Alexa to ensure that property management is easier. Through voice commands, you can easily optimize energy usage or increase operation efficiency.
Do I Need to Be Tech-Savvy to Utilize All of These Tools?
In short, no, you don’t have to be tech-savvy to use tech tools for safety and security opportunities. Some property management technologies and certain platforms can be easily used or user-friendly. You can automate rent collections with a simple click, easily coordinate property maintenance schedules, and streamline lease management. The real estate industry has undergone significant transformations when learning about different technologies that can benefit you.
Is it Safe to Use Property Management Technology?
Technology for property management that is available can be easily and safely accessed with banked-in security features, but it is always a safe bet to check out user reviews. There are plenty of in-house technologies that can be used when hiring property managers, but you can also opt for third-party platforms for real estate.
How Can I Protect Myself from Prospective Security Breaches?
Like other technologies, property management platforms are easily susceptible to hackers. This might trouble you as it is where you, as a property manager, will store private data like tenant records and payment details. Below is how you can safely utilize property management tech:
- Create unique passwords.
- Use specialty multi-factor authentication.
- Software should only be downloaded from credible sources.
- Use trusted platforms for payments done online.
- Undergo cybersecurity training.
- Hire experts in security with experience in property management.
Bottom Line
Between the handling of leasing, responding to maintenance requests, and landlord-related tasks, the job of the landlord can be overwhelming with the assistance of property management technology. Depending on the type of property you are renting out, you may have to oversee multiple tenants. Ask around and get help from real estate agents on deciding how to rent out your home. Trust the real estate professionals at Homeowner Experience Real Estate to guide you in finding and settling down in the home of your dreams in the many beautiful suburban neighborhoods that make up Silicon Valley, today.