Using the Internet to carry out residential property management functions such as marketing your rental property can be a sensible course of action. Because of its wide reach and time-saving capabilities, property management functions which formerly required manual tracking and implementation can now be accurately and quickly captured and executed online using the internet. This in turn allows the property manager additional time to focus on marketing the rental property, which is the life – blood of the business.
The Internet can be instrumental to saving time in competent residential property management in a number of ways including communication between property owners, tenants, and property managers. Other functions include securing new tenants for a property; marketing the subject property; keeping up with and having easy access to current legal documents pertaining to the property; rent payment tracking and collection of maintenance fees, and any other sums owed to the property manager or property owner.
Top Internet Uses for Residential Property Management
The Internet can be an effective, low-cost means of supporting communication between property managers and residents. Questions can be posed and answered, complaints lodged, requests for maintenance submitted, and various news items pertaining to the property such as scheduled maintenance can be quickly shared via group e-mails or the association website.
New tenants can more easily be found by advertising available rentals using the internet. Most individuals shop for new residences and properties online. Entire sites exist which contain available properties for rent or sale. This enables property managers to use the Internet for marketing purposes. Property managers can also review competitors’ sites to remain aware of what is going on in their particular rental or sales market, and thus keep abreast of what potential tenants are being offered elsewhere.
Ready access to copies of residential property management tenants’ leases and other pertinent legal documents can easily be offered to new tenants and made available over the Internet. Copies of rules and regulations for the property can also be published to avoid confusion about their contents.
Cash flow and revenue are also aspects of residential property management which have been impacted by the internet. Managers in charge of residential property management can make arrangements to receive online security deposits and rental payments. Other designated fees and costs can also be included as needed. This helps not only receipt of payments, but also aids in quick access to funds from tenant accounts. Quick payments help with cash flow as well as receipt preparation and account reconciliation.
Using the Internet to coordinate and streamline residential property management functions can help maintain accuracy for property managers. It can also help to further streamline and authenticate residential property management tasks and can help reduce some of the routine costs of property management. This aid in performing the job can free up the manager’s time to allow a greater focus on marketing.
Son-Rise Property Management is a full service property management company located in Bellingham, WA. Contact us today to see how we can help you find the perfect home to rent or manage your property.