There is no doubt that Atlanta is fast becoming a hub for the tech industry, and attracting young professionals in droves. Atlanta has experienced incredible economic growth thanks to tech companies and Georgia Tech graduates who set up shop in the Atlanta metro area. Younger generations are online more, changing how we do business. But what does this new attitude toward technology mean for rental property owners? Refusing to adopt technological advances in property management can be detrimental to your bottom line. Don’t get left in the dust when it comes to adopting technology for your property management business. Learn the advantages of using a property management company to keep your rental investment on the cutting edge of technology.
How Technology is Changing Property Management
Why is it important to keep up with technological advances as a rental property owner? If you have owned property for some time, you may have squeaked by with word of mouth advertising and finding tenants who always mailed their rent checks on time. But times are changing, Atlanta is becoming younger and more tech-savvy, and in order to attract highly qualified tenants, you need to utilize technology. Even if your property is in great condition and offers outstanding amenities, tenants may not choose it if you don’t offer the latest property management technologies. When we talk about how technology is changing the way we do business keep the following things in mind:
- Millennials (individuals aged 24-39 in 2020) make up a large portion of Atlanta residents. The average age of an Atlanta resident is 33 years old.
- Millennials use digital technology the most however, even the average American is spending nearly seven hours online per day.
- More people are searching for homes online. According to a report from Realtor.com and Google, real estate related searches jumped 253% over 4 years.
How Atlanta Property Managers Show Properties Online
Before you think about offering services such as online rent payments, your rental home needs to be occupied. Technology is now shaping how we manage vacancies and making it easier to fill spots quickly. According to the old model of property management, potential residents would either get in touch with a realtor to show them listings or drive by a home with a “for rent” sign and call the number posted. Now tenants are searching online databases such as Zillow, Trulia, and Realtor, making a list of the homes they want to see, and getting in contact with the realtor, landlord, property management company. In other words, potential tenants know what they want and are doing much of the legwork. If your rental home is not listed across multiple websites, chances are you will not even be contacted for a showing. Make sure your home is posted on every website, not just the ones that allow you to list for free. One of the advantages of using a property management company like Specialized Property Management Atlanta is knowing your home will be advertised well. We have our own webpage, where potential tenants can search rentals, but we also list your home across dozens of other sites.
Many property owners are also finding that posting their rental across multiple realty websites brings in a wider variety of serious, qualified tenants. Why does this happen? Online searches allow potential tenants to filter results so they can find the exact location, price, size, and amenities they want. Gone are the days of showing around a potential tenant only to hear, “I didn’t realize there is no washer and dryer, that is a dealbreaker.”
Online rental property searches are an especially important feature to young professionals who are moving cities for job relocation. Millennials are the most likely generation to switch jobs, often moving across the country for their dream job. They may even sign a lease before physically stepping onto the property, therefore they want as much information about the property as possible. High-quality pictures, an accurate description, and virtual walkthroughs are now the norm when it comes to marketing your rental property.
Why Atlanta Property Managers Use the Internet for Tenant Applications and Screening
Filling out a rental application can take time. Potential tenants must provide information such as income, past addresses, and reference’s contact information. In other words, the information they most likely have not committed to memory. An online application allows potential tenants to fill out their rental information from the comfort of their home and gives them access to important information such as pay stubs.
In addition, as we mentioned above Atlanta, is quickly becoming a hub for the tech industry and attracting young professionals from all over the world. These young professionals want to get the leasing process started before they move their belongings. Online rental applications provide a quick and easy way for tenants to fill out their application and submit important documents like a copy of their ID and latest pay stub.
Using Technology During the Rental Cycle
One advantage of using a property management company is not dealing with the day to day aspects of owning rental property. However, even if you aren’t part of the day to day aspects of running the property, you can take steps to ensure your tenants’ lives are as easy and possible using the latest technologies. Here are a few ways you can simplify your tenant’s life:
- Online Rent Payments: Give your tenant a way to sign up for automatic monthly payments so they don’t have to worry about paying rent on time.
- Maintenance Tickets: Non-emergency maintenance calls shouldn’t interrupt your dinner. For non-emergency maintenance your tenant can fill out an online help ticket any time of day or night.
- Tenant Communication: Use email, text messages, or other forms of technology to contact your tenant. Make sure you find out their preferred contact method when signing the lease.
Keep in mind that some tenants may like to drop off their rent check at the office each month, or prefer phone calls to emails. Technology makes property management more efficient, but only as long as your tenant is happy to use it. Provide options for rent payment, maintenance tickets, and more so your tenants can choose what works for them.
How Specialized Property Management Atlanta Property Managers Use Technology
Our Specialized Team has almost 30 years of experience in property management, and we are proud to use the most advanced property management technologies available. Many of our property owners reside outside of Atlanta, and many tenants move here from out of state. Therefore, technology makes our job more efficient and transparent. Here are a few ways our property owners and tenants benefit from our services:
- Tenant Portal: Our online tenant portal provides a place for tenants to pay rent and submit maintenance requests any time of day or night. The tenant portal makes life easier for tenants and reduces late rent payments. Tenants love being able to access their portal from the comfort of their homes.
- Owner Portal: Whether you reside in Atlanta, or anywhere else in the world, you can access information about your property 24/7. Our online owner portal contains recent property inspection reports, photos, tax documents, and more. It is the perfect way for owners to stay up to date with what is happening at their property.
- Online Marketing: As we stated above, one of the advantages of using a property management company is knowing your property will be marketed well, and no one does it better than Specialized Property Management Atlanta. We take pictures, create a 3D virtual tour, and post your listing across dozens of websites. Not only does your home reach a larger applicant pool, but digital marketing also brings in more serious tenants.
- Online Rental Application: When a tenant sees a home they want to apply for we welcome them to fill out an online application form. Filling out an online application speeds up the leasing process and makes it easier for those residing outside of Atlanta. Once the application is finished, we can screen each candidate online to make sure they qualify.
- Tenant Communication: Good communication is important at every stage of the rental cycle. Our specialized team is on call for tenant showings and stays in contact during the application process in order to fill vacancies quickly. After placing a tenant, we make sure their contact information and preferences are always up to date.
If you are looking for the best Atlanta property managers, look no further than Specialized Property Management Atlanta. Our team provides the latest technologies, coupled with excellent customer service. In a recent Google review, property owner Wayland W. stated, “Specialized Property Management has a very synergetic process for servicing their customers. I had questions about the process of finding a tenant for my property. There was always a person I could turn to provide me with information about where were at in the process.”
Our experienced professionals and proven processes will allow you to sit back and relax, knowing your property is in good hands. To receive a quote for professional property management services, call us at 404-596-8454.