As technology continues to advance, the business of investing in St. Louis rental real estate evolves with it. Though a few landlords may be attached to previous methods of doing things, it is far more lucrative and efficient for most rental property investors to adopt some or all of today’s top tech tools for real estate.
There are enough innovative tech tools out there that you could easily optimize every aspect of buying and owning single-family rental homes. From property searches to leasing and everything in between, below are some of the tech tools that real estate investors of all kinds have to understand.
A.I. Real Estate Apps
Time-consuming 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. Compass, one of the most popular apps, is utilized by over 14,000 real estate agents to explore and sell properties nationwide.
Data Analysis
Another great tech tool for rental property investors is data analytical tools. These tools will collect data at several levels, from national trends to your local market to each rental property you own. With this information, you can make better conclusions and, at the same time, track emerging patterns to help you determine where to go for your next profitable investment.
Social Media
If you have not already harnessed the power of social media to help you find, buy, and manage your rental properties, you are losing a lot of opportunities. You can market your properties through multiple social media platforms, speak with other rental property owners and sellers, and build an online presence and reputation. All of these are essential components of creating a successful real estate portfolio.
Virtual Tours
By creating and offering virtual tours online, you can remove one of the most time-consuming components of leasing rental properties. Young adult renters, in particular, have learned to anticipate virtual tours and other detailed information about a rental home long before they ever step foot in the door. A short, unedited video tour of your rental property can assist you in filtering your pool of applicants and streamline the method of selecting your next suitable tenant.
Smart Locks, Keyless Entry, Video Monitoring
Smart technologies are becoming more common in single-family rental homes, from smart locks and keyless entry systems to video doorbells. Most tenants are intrigued by the security these amenities provide; they also offer property owners an excellent way to control access to the property and keep an eye on things.
Process Management
Perhaps the ideal tech tool that each St. Louis property manager needs is convenient, online process management software. These programs can assist with simplifying a lot of necessary tasks, such as exchanging documents to collecting rent payments, communicating with tenants, and tracking maintenance requests. Even though there are several process management software programs out there, the majority of them come at a high cost.
The greatest option to going it alone with your property management is to hire a Real Property Management Specialist to do it for you. We deliver technology-enhanced process management software to our property owners, making property management a convenient and easy aspect of owning investment properties. To know more, contact us online.
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