If you’re not an early adopter when it comes to technology, adapting to all the new digital tools and streamlined software can feel like more of a challenge than a gift.
We get it. Online payments are great. Self-showing technology has been very welcomed.
But, how to incorporate predictive maintenance into your plans? What are you meant to do with all of the data that’s collected daily?
It can feel a little overwhelming.
As Killeen property management experts, we’ve been working with new technology for years. We have come to understand what works best in automating and streamlining our systems and which tools can be left behind. Just because a specific technology is available doesn’t mean you have to embrace it. Sometimes, we think people are too eager to chase the shiny new toy and less willing to steadily improve the processes that are already working for them.
We strike an ideal balance.
We use innovative technology and tools when they work for us, and we stick with what we know when that seems to serve us and our clients better than the latest and greatest new tech tools.
Let’s take a look at how adapting to technology can make Killeen property management better for you, your property, and your residents.
Leasing Tools that Make Sense in Renting Out Killeen Investment Properties
Leasing technology includes a range of digital tools designed to simplify and automate the tenant placement process. From syndicated online marketing to lease signing, these tech solutions help us move through the entire rental lifecycle, offering numerous benefits. For example, they help us be more efficient, saving time and reducing vacancy loss. We can make better decisions, which are based on objective data.
The technology we invest in to lease your Killeen rental property improves interactions with prospective tenants through streamlined communication channels, and we can access advanced algorithms to identify high-quality tenants quickly during the screening process. There’s less human error and less of a risk that we’ll unintentionally violate a fair housing law.
Let’s take a closer look at some popular leasing technology tools and their key features.
- Online Listings and Marketing Platforms
We are no longer renting out homes simply by using “For Rent” signs. Modern leasing technology enables us to market your property across a variety of online platforms, reaching a larger audience with minimal effort. Think about the major rental sites such as Zillow, Realtor.com, and Apartments.com, which offer centralized dashboards for managing listings, tracking inquiries, and scheduling viewings. We’re able to get your available property on all those sites with the software we use that syndicates a single listing.
This increases visibility to potential tenants. It provides for the easy management of multiple listings. There are even built-in analytics to optimize your marketing strategy
- Tenant Screening Solutions
Choosing the right tenant is critical for minimizing vacancies and ensuring timely rent payments. Tenant screening solutions that we use offer comprehensive background checks, credit reports, and rental history summaries, all accessible with just a few clicks. This delivers a quick and accurate assessment of prospective tenants. It reduces the risk of leasing to problematic tenants, and it ensures we’re compliant with all state and local laws.
- E-Signature Platforms
Once we have found the perfect tenant, it’s to everyone’s benefit when we can streamline the lease-signing process. E-signature platforms like DocuSign and Adobe Sign enable us to send, receive, and store legally binding documents electronically. This not only speeds up the leasing process but also ensures that your paperwork is securely managed. It leads to faster lease execution, enhanced document security, and paperless transactions that are better for the planet.
Tenants expect this kind of ease and convenience during the leasing period. And it helps us to minimize the vacancy period and place a well-qualified renter.
Technology and Killeen Rental Property Maintenance
When we talk about technology and maintenance, we’re mostly talking about smart home technology.
Smart home technology is revolutionizing the way rental properties are managed and maintained. These systems offer a range of benefits that can significantly reduce operational costs and improve tenant experiences. By automating mundane tasks and providing real-time data, these tools allow us to focus on what truly matters—providing a safe and comfortable living environment for tenants.
You’ll find that smart home tech is also in demand among Killeen tenants. They want it in their homes, and that means to stay competitive in the market, you need to provide it.
Implementing the right digital tools can make all the difference in property management. Here is a list of essential technologies that can help maintain and repair your rental properties effectively:
- Smart Thermostats
Smart thermostats allow tenants to control the temperature of their homes remotely. Not only does this improve energy efficiency, but it can also lead to more predictable utility expenses. Some types of thermostats are intuitive, setting themselves according to how many people they sense are in a room.
- IoT Sensors
Installing IoT sensors throughout your properties can provide valuable data on various maintenance aspects, such as HVAC performance, water leaks, and air quality. These sensors alert landlords to issues before they become costly problems. IoT stands for Internet of Things. This is a type of predictive maintenance that can save you a lot of money in avoiding emergency repairs.
- Smart Locks and Security Systems
Smart locks eliminate the need for physical keys, offering tenants keyless entry options. Additionally, integrated security cameras provide real-time monitoring, ensuring peace of mind for both landlords and tenants. We like this technology for homes that are occupied and vacant. When a tenant is in place, they love things like video doorbells. When the property is vacant, those security cameras and sensors can be a great way to make your investment less of a target.
- Automated Lighting
Automated lighting systems can be programmed to turn off when no one is home, reducing energy consumption and lowering electricity bills.
Technology and Communication
Online portals have come a long way. They allow for online rental payments, online maintenance requests, and even communication. Tenants and owners can get in touch with us in a myriad of ways, and one of those ways is through the online portal that we provide to all of our tenants and owners.
With the technology we use, we’re able to communicate more responsively. We’re more available and accessible to our tenants. We’re also relying on a lot of automation. The tech we invest in takes care of those everyday tasks such as lease signings, lease renewals, correspondence, rent collection, and financial reports. This gives us more time to check in with owners and tenants. We can work on relationships, and communication, and on providing an exceptional rental experience.
Property Management Software
Investing in reliable property management software can automate tasks such as rent collection, maintenance scheduling, and tenant communication. This allows landlords to manage multiple properties seamlessly from a single platform.
How do you choose the right technology and software? This is a question we get a lot. For us, it’s a bit easier. We make our investments based on the large number of properties we are managing. For an independent landlord or an investor renting out just one home, you have to make some smart choices. This is usually what we recommend that you consider:
- Tenant Needs. Understand what features are most important to your current and potential Killeen tenants. For instance, younger tenants or those who work remotely may prioritize connectivity and automation over traditional amenities. Have you considered offering internet as an amenity? Most landlords expect tenants to set up their own internet services, but when you provide high-speed internet, you are going to make your property attractive to tenants who want to move in and be immediately connected. And it doesn’t have to cost you anything out of pocket; you can roll that cost right into the rental amount.
- Budget. Determine what technologies provide the best return on investment by reducing costs or increasing rent potential. Those digital keypads will likely save you money on key replacements. Allowing online or digital rental payments will cut down on any bounced check fees and you’ll get paid faster.
- Scalability. Ensure that the chosen technology can be easily scaled or upgraded as your property portfolio grows.
One of the benefits of partnering with a Killeen property management company is that we already have the technology in place. You don’t have to invest in anything, because we’re already using those leasing systems that can syndicate listings, allow for showings, and dig deep into tenant screening reports. We’re already collecting rent online and paying our owners electronically. Your investment in technology is minimal when you decide to invest in property management services instead. You get to leverage everything we already offer.
Questions about technology and how we’re using it with your rental property? We’d love to talk about it. Contact us at Shine Residential Management.
A property management company based in Harker Heights, Shine Residential Management cares for exceptional single-family homes throughout Central Texas, including in Killeen, Temple, Belton, Copperas Cove, Salado, and Georgetown.
