Because of technology, property management has become more manageable and straightforward, especially in recent years. The arrival of the internet and the creation of mobile applications have helped many property owners improve the tenant experience.
Thus, no matter how far you are from your rental property, you can ensure that you can communicate with your tenants and address their problems swiftly. The result is delighted tenants that’ll spread the good word about your business.
This post will explore how technology can enhance the tenant's experience, so you can choose to invest in tools from which you can benefit the most. You can also hire property management services like the ones offered by ICC for commercial properties to oversee your investments and ensure a higher bottom line.
Here are ways technology can enhance the tenant experience:
1. Efficient And Secure Online Payment
Modern technology gives tenants an easier time processing their monthly payments. They won't have to go to payment centers and line up. More importantly, it removes the danger of them physically going to your location to hand over the money. The convenience of this feature means tenants can pay anywhere they are and use the mode of payment most suitable for them. They can pay using a debit or credit card or automated clearing house (ACH) transfer. The line is secure, and payment will reflect within a few days.
Moreover, technology has made delayed payments and landlords reminding tenants about fees a thing of the past. Automated systems can now notify tenants about future dues.
2. Smart Home Automation
Property owners are investing in this technology today as more and more people are becoming aware of their responsibility to the environment. The rising trend for smart homes is quite apparent. The forecast shows that by 2027, there’ll be about 672.57 million smart homes worldwide from 311.9 million in 2023. The huge jump is because of environmental awareness and the cost-saving factors they represent.
With a smart home, tenants can control various home functions remotely. Aside from that, it can make the home more secure. Wherever they may be at any point in time, tenants can receive alerts in case of a security breach. This added layer of protection gives them peace of mind.
3. Mobile-Friendly Tenant Portals
A tenant portal can have everything a tenant needs at their fingertips. Making payments, requesting maintenance, verifying legal documents, and updating one's profile will be seamless and straightforward.
Tenants simply have to access the user-friendly dashboard and complete any requests by logging in to the portal using their mobile devices or computer. They can also send messages of inquiry or complaint that can directly go to the property manager for proper resolution.
4. Virtual Property Tours
Prospective tenants living abroad or in a different city can view properties without physically visiting them. Virtual property tours create an immersive and interactive experience that simulates an actual property tour. These tours can be live and in real-time using social media applications, or they can also be prerecorded.
Prospective tenants can ask questions about what they saw on the tour that the realtor could answer immediately. This interaction fosters a sense of trust and connection comparable to an in-person tour.
Some of these tours have a 360-degree camera so tenants can view the property from all angles. More advanced tours can be interactive, where tenants can measure rooms and view floor plans. On the other hand, some have 3D models of furniture and decor to visualize how they’ll live inside the property if they get it.
5. Keyless Entry Systems
Keyless entry systems are replacing physical keys that can be lost or stolen. Users activate this type of key with a smartphone or key fob, similar to the keys used in hotels. Keyless entry systems can be deactivated or have their codes changed when lost or stolen, reducing the risk of unauthorized entry.
One more benefit of keyless entry is the convenience it offers. For example, a tenant who just went to the grocery has to go inside; they don't need to look for the key at the bottom of their messy bag while carrying many things. They only need to press a button on their phone to open the door.
6. Predictive Maintenance
Huge rental property costs stem from maintenance and repairs. Often, they're also the reason for a decline in tenant satisfaction. With predictive maintenance, HVAC systems, elevators, electrical and plumbing systems, and appliances will be monitored efficiently. Addressing potential problems quickly can help avoid downtimes.
More importantly, predictive maintenance can extend the life of your investments. Predictive maintenance saves you money in the long term and will ensure the efficiency of systems and equipment in your rental, making your tenants happy.
Today, technology has become a necessity more than a luxury. It now plays a crucial role in property management by satisfying tenants highly. Invest in these modern tools and see tenant experience soar and your business flourish.