August 13, 2016
Property ownership and management is a business, thus, losing tenants, as clients can directly affect your ultimate success. According to JLL’s “The Costs of Losing a Tenant”, it can take up to two years for a landlord to regain lost income if even a single tenant is to leave a property. Of course, as a property owner, it is crucial to maintain a healthy portfolio of consistent, long-term tenants. But how do you improve your efficiency, record keeping and boost your tenant satisfaction rates, while working on a budget. Today, everything is available to professionals at the touch of a fingertip, and why should a property owner struggle to keep up with his responsibilities without the proper tools.
For today’s homeowner, a useful, well-designed app can be as essential as a hammer and a box of nails. Let’s say that you are planning to redesign your property, it is not enough to have a vague idea of how you want everything to look. You need specific examples to crystallize your plans. The Home Design app lets you create 2D floorplan of your property, select the doors, windows and furniture from a directory. After you are done with it, you can use a 3D mock-up of your house to start moving things around, until you come up with a perfect arrangement.
Priority Matrix is an award-winning and highly efficient task management application. While the designers never had homeowners in mind when they created Priority Matric, many homeowners have attested to the fact that they found it very useful to perform basic household tasks on time. Seeing just how many responsibilities an average landlord has on a daily basis, if you are a person that often forgets about urgent tasks around the house, you should definitely use this app.
This iOS app assists a homeowner to keep his or her property clean and neat at all times. It also helps you do your home tasks by providing you with a set of simple instructions. Furthermore, it allows you to set a schedule for your property maintenance regimes; furthermore, the app alerts you to make sure that you stick to the schedule. No matter if it’s home décor or cleaning guide BrightNest provides its users all the information they need regarding their home.
Let’s face it – things can always go wrong and disasters happen all the time, and when something does happen, it is great to have this app in your smartphone. My home Scr.App.book lets the user take pictures of his or her home, place bar codes on their possessions and sort them based on which they are in. This app is great to have if you want to determine how much insurance you are going to file claim fore, in case of a peril.
Retaining those tenants should be your number one priority, because they don’t have to comb different neighborhoods looking for “for rent” signs in order to find another place to stay. The internet has revolutionized the real estate environment with powerful search engines that can filter housing options in dozens of ways, in a matter of seconds. On the other hand, apps like Rental Rewards that allow users to automate the rent paying process are beneficial for both the owners and the tenants.
According to a survey conducted by Kingsley Associates, the likelihood of lease renewal is in fact tripled, when tenants are sufficiently satisfied with management. What’s more, the survey revealed that the relationship between a tenant and the proprietor is directly linked to overall satisfaction. The more a tenant feels a positive connection to the landlord, the more likely he or she is to vacate. Therefore, a landlord has to focus on maintaining a positive, attentive relationship with those who currently reside in his property.