As a rental property owner, you know that the key to success is finding a balance between managing your properties effectively and keeping costs low. Fortunately, there are many technological solutions available today that can help you achieve both goals. Here, Robin McInnis from Heller Murch Realty presents an overview of some of the most popular tools and technologies that rental property owners should consider taking advantage of.

Virtual Tours

Virtual tours are becoming increasingly popular as rental property management solutions. By allowing potential tenants to view your rentals from their computer or smartphone, you can save time and money by not having to show the property in person. Additionally, virtual tours allow prospective renters to get a better sense of the property before they commit to renting it. This can help reduce the number of people who back out after seeing a unit in person.

Marketing Platforms

Another way technology can help improve your rental business is through online marketing tools. These platforms allow you to create targeted campaigns based on demographics or interests so that potential renters see your ads when searching for rentals online. This helps ensure that only those who are interested in your properties will see them, resulting in more qualified leads and fewer “tire kickers” who are just looking around but not serious about renting from you.

Accounting Software

Accounting software is an invaluable tool for rental property owners. It helps keep track of all their financial transactions in one place, making it easier to analyse data and spot trends that could affect the success of their rental business. Accounting software eliminates manual processes while providing accurate data that can be used for reporting purposes or cash flow forecasting. Compare several of these programs before choosing one, as it is much easier to start with good software than to change things over after time has passed. 

Smart Technology

Smart technology is becoming increasingly prevalent in rental properties these days, allowing landlords to monitor their buildings remotely while providing tenants with features like automated lights, thermostats, locks, and more. Smart technology can help reduce energy costs while also improving security and convenience for both landlords and tenants alike.

Smart Home Security

It is also important to note that smart systems can be used as an additional layer of protection against theft or vandalism on premises — especially if monitored by an outside security company. This gives landlords peace of mind knowing their properties are secure even when they’re away from them.  

Online Payment Options 

Online payment options have revolutionised rent collection for landlords, making it easier than ever to keep track of payments and tenants. No longer do landlords have to wait in line at the bank or worry about tracking down late payments. With a few clicks, rent can be collected quickly and securely, saving time and money for both landlords and renters.

Simplified Background Checks   

Similarly, online applications and background checks can help streamline the process of screening potential tenants without having to manually review each one yourself. This saves you time and reduces headaches associated with tenant screening processes, such as verifying references or conducting criminal background checks yourself.   

Digital Signatures

Digital signatures are a revolutionary way to make the rental process easier for both landlords and potential tenants. With digital signatures, documents can be signed quickly and securely, eliminating the need for physical signatures. This eliminates time-consuming meetups, improves accuracy in tracking who has seen/signed specific documents, as well as simplifies paperwork management.

Protect Yourself with an LC

Forming a limited company is a beneficial step for any property rental business. It provides protection from personal liability and reduces the administrative burden of managing the business. Using an online formation service to form the LC makes this process faster and simpler; it's a highly recommended option for those looking to quickly establish their business without sacrificing quality or security.

Protect Yourself with an LC

There’s no denying that technology has drastically changed the way we manage our businesses over the past several decades — rental businesses included! By taking advantage of various technological solutions available today, rental property owners can increase their profits while simultaneously making their lives easier. From virtual property tours and online marketing tools to digital signatures and online formation services, technology provides us with many opportunities when it comes to how we manage our investment properties.

Are you looking for a new property to transform into a rental? Then contact Robin McInnis from Heller Murch Realty to get your house search started!

Photo Credit: Kindel Medial via Pexels

How To Build a Home Office On a Budget

If you work from home, you understand the importance of having a designated workspace where you can be productive. If you aren't satisfied with your current workspace, there are many ways you can upgrade it without spending a lot of money. Use these four tips to create a functional home office on a budget.

Make Upgrades To Improve Mood and Boost Productivity

The first step to creating a perfect home workspace is finding a place for it. If you have an extra bedroom in your house, you may choose to convert it into an office. You may also have an addition you want to use as an office, or you can set up your workspace in the corner of your living room. Regardless of where you choose to put your workstation, you need to make upgrades to boost productivity. Even small changes such as adding brighter lighting or more windows to let in additional natural light can have a huge impact on your mood.

It's also important to note that upgrading your home office is a good way to add value to your house. If you are considering selling your home in the future, it's a good idea to save the receipts from all of the upgrades you make to your house when designing a functional workspace. Look at the upgrades buyers desire when they are looking for a new home. For example, one study shows that 48% of potential home buyers value natural lighting, so this is a worthwhile upgrade to make.

Buy Comfortable Furniture

You'll spend a significant amount of time in a home office, so it's important to buy comfortable furniture. Every functional workspace needs a sturdy desk. You should also invest in a desk chair that provides you with plenty of cushion and back support so that you don't get sore from sitting in one place all day. If you plan to meet with clients in your home, you may also want to invest in a couch or comfortable chairs to give them a place to sit.

Invest In the Right Equipment

Having the right equipment is important when working from home. You may need to have a separate computer for work. You might need a printer, and you may need other types of equipment depending upon the type of work that you do. It is best to make sure you have all of the equipment you need to perform your job efficiently so that you can be productive during office hours.

Find an Organizational System That Works

If you want to be productive when working from home, you need to be able to find the supplies you need quickly instead of wasting time looking for them. Staying organized is a good way to boost productivity. If you regularly use a lot of small office supplies, you may want to invest in organizers and storage bins to keep all of the items separated.

 If you don't have a lot of space or don't want your workspace to look cluttered with supplies, you may need to get creative with your storage solutions. Take advantage of vertical space and use tasteful organizers that match your aesthetic.

You don't have to spend a lot of money to create a good home workspace. If you use these four tips, you can upgrade your existing workstation so you can be productive when working from home.

If you’re looking to purchase a new home to help you build that perfect office, let Robin McInnis of Heller Murch Realty help you find exactly what you’re after. Call 604-808-9661 to get started.