In the digital era, the real estate world has undergone a significant number of changes and shifts. More people than ever are choosing to rent instead of buy. In 2016, 65% of households headed by people younger than 35 were renting, up from 57% in 2006. However, if you're not keeping up with the times, there's a chance you could fall behind as a landlord. But how can technology improve your earnings as a landlord? What new tech should you be making use of?
With so many people connected to the internet today in some way, it's easier than ever to reach renters if you know the right methods. Listing your property online with a neighborhood search tool or rental listing app can help you keep all your rental properties filled and earning you money. Listing online can reduce the length of time your properties sit empty, so the sooner you get your vacant properties posted online, the better.
An apartment is only going to get renters interested in it if it's priced appropriately. However, going through all the listings available to you to get the rental data you need to price your property correctly takes time. Luckily, online rent estimator tools and rent predictors can help you gauge what your property is actually worth can help you avoid over- or under-pricing issues.
There's plenty a landlord has to manage, especially if you own multiple properties that you're trying to keep track of. Between monthly rent payments, maintenance, listing properties, and more, you can quickly lose track. However, rental property apps now exist to help you manage all of these components of real estate investment and more right from your mobile device. This keeps your property management as convenient as possible so you're on top of everything you need to succeed.
With new technology being developed and implemented constantly, there's plenty of ways to keep your real estate ventures profitable with some digital help. For more information on how technology can help you be a better landlord or to learn more about rental property apps, contact Rentometer today.