Many disruptions happened to the property market after the coronavirus outbreak, affecting both landlords and tenants. Although technology is not new to the property market, the pandemic has propelled the need for landlords to adopt digital processes to ensure tenants’ safety.
Going digital will improve tenants’ well-being by enhancing the overall experience of renting a property, with the aim to build a strong and trusted relationship between landlord and tenant.
We’ve outlined some of the digital tools available to help establish effective interactions with tenants, safely, despite the social distancing measures that have been put in place.
Landlords or property management companies should conduct a thorough evaluation of their properties to guarantee their residents’ health and safety. In order to carry out inspections, landlords will be responsible for keeping their staff and tenants informed of any scheduled visits or work that needs to be completed. Communication is key in the current situation, and messages can be easily conveyed via online portals to limit face-to-face interactions.
Technology such as online portals can provide updates on the latest health and safety measures and the precautions taken to protect tenants, such as deep cleaning of properties and communal areas, and security and visitor rules in multiple occupancy buildings. This technology is designed to keep the line of communication open at all times and answer any questions that tenants may have to put their mind at ease. Tenants can also log maintenance issues and organise deliveries if need be.
By leveraging technology, landlords can arrange online viewings and virtual tours. Future tenants can upload references, sign tenancies and make digital rent payments, all within a few clicks, making the entire process hassle-free. The benefits are great for landlords too, as technology reduces operational costs and makes the workflow more efficient. It also enables landlords to go paperless, which can have a positive effect on the environment.
Smart landlords invest in smart properties
Regardless of if the pandemic happened or not, tenants nowadays have high hopes for landlords to include some form of digital technology throughout their tenancy. Whether it be an online system or smartphone app they can download, millennials and generation Z in particular, look for convenience when it comes to anything in life, including renting a property.
Younger residents such as graduates who are now working professionals, and students too, not only look for ways to stay connected to their landlords in the most convenient way possible but are keen to live in eco-friendly accommodation also. This is because younger generations are more inclined to help protect the environment.
Property investment company RWinvest recognises that technology can help investors make a difference to both tenants’ lives and the planet, and have recently listed their first eco-friendly development. Properties include features like eco-lighting with sensors to switch off lights when they’re not needed and eco-heaters to turn off the heating when windows are opened. The building will be complete with solar panels, and strict recycling policies will be put in place. The properties also have the ability to collect rainwater to aid in plumbing, minimising the carbon footprint.
Technology, such as smart thermostats are great for both tenants and landlords. They give property owners peace of mind when it comes to the winter months and the risk of burst pipes, whilst also improving tenants’ lives with a more cost-effective system, controlled via an app. A connected thermostat can show tenants the property’s energy usage to ensure they remain within their budget (so there’s no need to panic if they leave the heating on, as they can turn it off straight from their mobile phone). Lastly, wi-fi-enabled door locks and camera systems are hugely beneficial. These allow landlords to not only protect their investments, but their more vulnerable residents too.
