Technology is evolving at a rapid rate – in 2018 you can pay a bill with your fingerprint, experience a different world through some funny looking goggles, be ferried about in a car with no driver, and even create an edible meal or a bicycle on a 3D printer! If I think where these advancements could lead in 10 or 20 years, it truly boggles my brain.
But what if tech is not your thing and you just feel overwhelmed trying to get your head around it all? Trust me, I know that feeling well. I really resisted tech for a long time, until I came to the realisation that I had many active years ahead of me where I would likely WANT to be working, and it was pretty evident that tech will not stop advancing, so I’d better get to grips with it, or seriously fall behind in life.
So instead, I decided to embrace technology, and open my mind to the innovative programs and products that could transform the way I operate my business. And if I needed to take it in small steps, well so be it. I must say, once converted, I wondered why on earth it took me so long!
If I’m honest, I’m still way behind when it comes to understanding technology, yet even so, a new tenant recently commented that ours was the first tenancy he had entered that made use of so much tech!
That tells me that even with my rather girly and old fashioned understanding of tech, I’m still leap years ahead of other landlords in my area.
It also then suggests that there’s a large number of landlords throughout the UK who are not yet using tech so are missing out on the wonderful benefits.
Here’s 10 basic tech hacks to introduce into your landlord business that will save you time and help you win and keep more great tenants…
Property management software
Good property management software will get you organised by keeping the tenancy documents, property info and certificates, viewings info, repairs and maintenance reports all in one place. It should also save your time by automating time consuming daily processes and communications, and make life easier by sending you reminders, alerts and automated tasks.
Accounting software
Some packages will link with your property management software, eliminating the need to manually input tenant receipts.
Digital signature contracts
Get AST’s signed in advance and save yourself the time of going through the tenancy agreement on move-in day.
WhatsApp Groups
Even with property management software to keep tenants informed of goings on around the house (maintenance visits etc), I’d still recommend having a WhatsApp group for the tenants to communicate with each other for for things like “Arrgh, it’s raining! Would someone bring my washing in from the line please?” and “Hey all, I baked some cookies. They are on the bench so help yourself”. Enabling a place for your tenants to communicate in this way helps to build a sense of community at the house.
Skype viewings
Don’t lose out on a potentially great tenant who isn’t in the area yet. We regularly carry out and rent rooms through a Skype call.
360deg photos
More immersive than 2D photographs, wow your prospects with 360deg photos so they can spin around and see a full room, or when linked together with 360deg photos from other rooms, prospects can virtually ‘walk’ around a property and get a good sense of the size of the space, the furnishings and facilities.
Live Virtual Tours
As a self-managing landlord located 1 hour away from my properties, I sometimes miss opportunities to meet potential tenants for viewings at times that are most suitable for them. So Live Virtual Tours are an exciting concept to help overcome the issues faced by time-limited or remote/semi-remote self-managing landlords. Live Virtual Tours use a Skype type of FaceTime call, paired with the linked 360deg photos so you can now ‘walk’ a viewer around an available property from the comfort of your own couch, and then only carry out second ‘in-person’ viewings with pre-qualified leads.
Digital inventory apps
There are apps that utilise dictation functions, drop down menus, standard responses, date stamping on photos and signature fields too, making the check in report so much quicker to carry out.
Card payments
Portable card readers enable you to take holding reservations from prospective tenants during a viewing. What’s not to like about immediate payments?!
Online application forms
We recently moved our application form online, and with the functions available in the form builder, we were able to add required fields, check boxes to be ticked confirming the Privacy and Fees Notices have been read, and a declaration with digital signature too.
Prop-tech is a rapidly growing industry and there are a lot of software packages and products to choose from. The automations we’ve set up ensure people are informed about goings on, without me worrying whether I’ve remembered to message them or not. All of the tenancy documents, rent receipts, all of the certificates for the houses, the warranties for the white goods, the photos and advertisement copy, tenant issues, repairs and follow up – all in the same place. The whole business is operating at a more professional level, yet with less output from me. It’s a no-brainer really.
I must admit, I do get a great sense of satisfaction from the added professionalism that tech brings to the business.
Want more?
Did you know SenecaRooms offers HMO business consultancy services? We’ll help you improve the performance of your HMO landlording business – increase your profits, increase tenant satisfaction, and increase your freedom and enjoyment from the business too!
Book a free initial chat with us here: https://senecarooms.com/contact-us/