5 ways property investors can use technology
Technology is impacting every area of our lives – the way we work, spend our leisure time and even manage our health.
From helping with research and investment planning to potentially increasing rental return, here are five ways landlords can benefit from emerging technologies.
- Enhancing research
Investors now have access to comprehensive and current data on property markets, rental prices, population trends, and infrastructure development. For instance, HtAG® has developed a heatmap of LGAs and a search form which you can use to locate any property market in the country. This includes looking at house prices, real estate rental market data, and other advanced metrics.
- Virtual tours
Virtual tours enable investors to view properties without having to leave their homes. Our beautifully presented 360 virtual tours are a massive point of difference and they make sure your property is top of the list for the target buyer / tenant.
These quality produced tours give the potential tenant (and if the property is for sale, the buyer) the feeling of actually being inside the property. We’ve found these virtual tours allow people to become far more emotionally engaged with a property before they come to a viewing, and as a result are often more committed to putting in an offer.
We can advise and assist with presenting the house and our digital specialists can produce a professional, high definition, 360-degree virtual home tour within as little as 15 minutes.
- Financial planning software
There are many tools which allow investors to track their expenses, manage their cash flow, and create detailed financial plans. By using financial planning software, investors can identify potential risks, set long-term goals, and monitor the performance of their investments. This level of financial insight helps investors make smarter decisions and optimise their portfolio for maximum returns.
- Property management made easy
The digital world is enabling more to be done electronically, making it convenient for both tenants and landlords alike.
This is why we have developed an online portal for our landlords and tenants.
The feedback from our owners’ about the online portal is that it is convenient and a comprehensive way of managing rental properties. Landlords who use our portal can view statements, financial reporting, ongoing maintenance, upcoming events, inspection reports and more.
For tenants, our portal streamlines the rental process. We accept online applications, have online signing and generally we make life a lot easier for the tenant, and giving them a better rental experience. They can see their statements, create new maintenance requests, see upcoming events, access receipts, rental information and lots more.
- Improve your property to attract higher rental income
Using technology to upgrade your rental property may also contribute to attracting a higher rental return. For instance, smart security cameras and sensor systems will improve security and tenants will feel safer in their home.
Technology can also help with energy management; as well as making the property more energy efficient and reducing the property’s environmental impact, tenants will benefit from reduced running costs.
Landlords may also consider installing a water leak detection system. These use sensors to identify leaks and abnormal water usage; tenants will need to be advised the technology may automatically shut off the water supply to prevent extensive damage though.
However, the tenant will benefit from a house not flooding, and for the landlord, promptly addressing potential leakages, can avoid costly repairs and keep their properties in top condition.
We are constantly looking at ways in which to make your life easier and our innovative team can give you great advice on what you can do to improve your property and get the best return for investment.
We are family run, and one of Newcastle’s longest established property management offices – call us on 02 4954 8833, send an email to mail@apnewcastle.com.au or visit us in person at our Cardiff office.