Although technology has become a quintessential part of daily life, many landlords are still hesitant to rely on technology for their properties. However, tech makes life easier and allows us to spend time doing things that matter most. Why, as a landlord, would you not want to tap into those benefits to list, manage, and maintain your properties? For this reason, it's critical to overcome your fears of tech and begin embracing it to see better and bigger profit margins on your units.
Smart Home Upgrades
One way tech helps landlords is by saving money on monthly expenses and bills like electricity and maintenance. Besides being more attractive to tenants, modern amenities like smart thermostats, smart lighting, and smart water heating systems can help you save thousands annually, with an initial investment of less than $100.
Many of these smart home upgrades are also DIY additions.
Smart Locks
Tenants report that safety is one of the most critical components when searching for a property. Smart doorbells and locks are becoming increasingly more popular among tenants and homeowners. Not only do they provide an additional element of safety, which in areas like Toronto – and greater Ontario – are becoming necessary, they also are convenient as they eliminate the need for excess keys.
Virtual Tours
Conducting virtual tours is another way to save time on managing your property. This way, you only need to film your unit or property once and then can use it every time you list your property to get more interest and eliminate the need for in-person viewing. Annually, this once-off investment can save you forty hours of work spent communicating with prospective tenants on showing the property.
Property Management & Maintenance
Managing a property is a time-intensive and labour-intensive endeavour. Technology – especially software or apps like Antslabor – is designed to help you track, automate, and manage repetitive tasks and has the fantastic benefit of saving you both time and money.
Essentially by using a property management app, you are less likely to make an error or forget to conduct maintenance. You can also use the visualization elements to discover ways to eliminate needless expenses.
How To Get Started With Technology as A Landlord?
The first step you should take to embrace technology as a landlord is to find methods to automate your tasks. Software and apps are the easiest ways to get started. They cost very little in monthly or annual fees and have a significant ROI. You can then research cheaper smart home upgrades that potential tenants will find appealing and can help you charge more for a unit.
Once you are more confident in your skills you can take the time to learn more about taking your own property videos and virtual tours.
Before you cringe, the next time you hear the words “proptech” consider the benefits and how technology can help you manage both your property and your time. The Antslabor software we’ve developed, particularly for Ontario landlords, has helped landlords save over two hours a month and $1,417 per month. Join us for FREE now!
Comentarios