Are You Part of the Technology Revolution?

Question

What Technology Do You Utilize to Make Things Easier for your Clients?

JD Martin · Answer

I use online payments (Cozy, erentpayment). I use online applications and credit/background checks. I do almost all communicating by text. I maintain a 24 hour "office" through Google voice for reporting issues and inquiring about open rentals. I maintain all my properties that are available on my website.

Technology is the only thing that makes this business viable for me without quitting my day job.

Roy N. · Answer

Michael:

We have experimented with a handful of deadbolts that are either Zigbee or zWave enabled.   The ones we have used the most are Schlage models which do not power the deadbolt as they have longer battery life and their are less alignment issues as buildings and doors shift with the seasons.  Most other brand offerings Weisser, Kwickset, Yale, etc) power the dead bolt when they unlock.   Sadly, Schalge seems to be heading this way as well and the Camelot is the only remaining zWave enabled deadbolt which does not power the bolt.

Dana Dunford · Answer

@Steve Rozenberg - Here is what I've automated in my process:

• Rent collection
• Text communications (tracked online)
• Rental application
• Background check and credit report
• Vendor initiation (for quotes and requests)

Not everything can be automated, but I see technology as a way to track my communications and report on the metrics that are important.

Roy N. · Answer

We have rolled-our-own building monitoring and (increasingly) management system which lets us detect conditions and events at our properties before they become calamities.

We are deploying electronic deadbolts which allow us to grant/revoke access remotely and permit us to let in locked out tenants using our phones/laptops rather than driving across the city.  The electronic deadbolts also allow the tenants to open their doors with an acces code (and, in beta, an app).

All of our rents - save two units - are paid electronically.  The two who still pay in cash have deposit-only bank cards and deliver their rent to the bank.

We are experimenting with our building management/monitoring system and IoT ideas (RFID tags/EMV cards) to bring additional services to our tenants (bicycle rentals, parking arrangement with local "smartmeter" service, etc).

Lois Ginter · Answer

I am just getting started as a landlord, but came from an IT and accounting background, so I embrace technology.  I studied a few of the cloud applications and TrueRent seemed like the best.

• They charged the least amount for applicant screenings.  The results were fast and easy to read. Applicants enter their own information. 
• Has an easy to use interface.
• Accepts and makes payments. 
• Tracks expenses and revenues at the unit level.
• Has tenant portal for rent payments, leases, work orders and messages. 
• Has PM and owner portals.

Deanna Bennett · Answer

As far as technology goes, online rent payments will make things easier for you and your tenants. Look for a solution that offers recurring payment options, email and text reminders, flexible line items, and customizable late fees. Those are the most common things our customers ask for.

Other technologies we use in house include Xero for accounting and phone services through Switch. Both are easy to set up, and worth the relatively low monthly fees since it looks like you need more business services than just individual options.

Personally, I could not live without my password generator like @Max Tanenbaum pointed out. I use 1Password, but do not have experience with the others so I won't recommend this over another necessarily.

Max T. · Answer

I don't do anything special for tenants but I do use technology to keep myself organized.

1. Online banking and online billpay.

2. Google drive, docs/sheets  - stay well organized.

3. (free) Smartphone app "proximiant" to photo, categorize, and save receipts. It can generate reports at the end of the month/year/etc...

4. paid multi-device program called "Dashlane" to generate and remember complex passwords to my various online accounts.

Linda Liberatore · Answer

Our clients focus on ACH payments, Chase QuickPay, automated emails and text messaging to add convenience for the 24.7 resident.  The goal is selecting a variety of solutions to match the various demographics and needs of the residents.

Are You Part of the Technology Revolution?

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