Working from home definitely has its advantages. The commute is short, your dress code is extremely flexible, and many people find they’re more productive without the typical office distractions. With more people working from home due to COVID-19, you may be wondering: can I be a successful landlord or property manager working from home? With today’s technology, it’s easier than ever to manage your property from a virtual office. Here are a few things you’ll need to get started:
Online Marketing
Thanks to the internet, there are plenty of ways to effectively market a vacancy for your rental property. You could rely on word of mouth or flyers, but the best way to get your property in front of the most renters is to post online. Craigslist is one popular and easy to use option, and there are also other sites like Zillow or Apartments.com. Regardless of which services you choose to use, it’s important to make sure that your advertising and messaging is consistent across all channels. A personal rental property website is also a great way to directly market your vacancies.
Virtual Tours
Virtual tours are a convenient way to show off your properties to prospective tenants. There are a couple of ways you can conduct virtual tours. You can use 3D software (like this one from Zillow) to create panoramic photographs that applicants can zoom in and look around the property, almost as if they were there in person. This requires a newer smartphone or a professional camera with panoramic capability. You will need to go to the property to do this, but once you’ve created the tour, you can post it on your listing or email it directly to interested parties.
The other option is to do a live video tour. This allows you to walk around the property and show off the features just as you would in person. Live video tours have some advantages over a 3D tour. You can talk about small details that wouldn’t be as visible in photos and the prospective tenant can ask questions in real-time. By offering virtual tours, you may open your property up to applicants you wouldn’t have gotten otherwise. Click here for more details on how to create a virtual tour.
Online Applications
Online applications make things easier for you as well as applicants. There’s no paper waste, lost paperwork, and you can review the applications without needing to leave your home. Our RentalConnect and QuickScreen services are an easy way to screen your applicants and have them complete an application online – while passing the cost of the screening off to them.
Online Background Checks
Once you’ve received the applications and are in the process of selecting one, you should run a background check. This will help you verify whether the applicant fits your written rental standards, including income requirements. With our services, this can be completed completely online without any face-to-face interaction with the applicants.
Online Lease Agreement
Once you’ve found the perfect tenant, you’ll want to have them sign the lease. This can be done virtually in a number of ways, including using a free app like DocuSign. We offer free lease agreement forms online, or you can write your own.
Rent Collection
Online rent collection is one of the fastest, easiest ways to collect payments. Typically, an ACH payment will clear quicker than a check, and there are no concerns about misplacing a check or rent getting lost in the mail or stolen. Tenants are also held more accountable for paying on time, as they can set up reminders for the due date. Not to mention, younger generations like millennials and Gen Z prefer online payments over cash, checks, or money orders. Here’s a list of some verified services that make online rent payments hassle-free.
While it may feel daunting to start managing your properties virtually, these tools will help streamline your operations and make them more efficient, particularly during the pandemic. For more information about any of the services we offer, please contact us at 800-523-2381.
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