{"id":3833,"date":"2023-01-21T05:19:22","date_gmt":"2023-01-21T05:19:22","guid":{"rendered":"https:\/\/frankbuysphilly.com\/how-to-become-a-digital-landlord\/"},"modified":"2023-01-21T05:19:22","modified_gmt":"2023-01-21T05:19:22","slug":"how-to-become-a-digital-landlord","status":"publish","type":"post","link":"https:\/\/frankbuysphilly.com\/how-to-become-a-digital-landlord\/","title":{"rendered":"How To Become A Digital Landlord"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div :class=\"{ 'hidden': $store.proContent.showFullPrompt() }\">\n<section class=\"px-4 relative border border-slate-200 mobile-toc lg:hidden\" x-data=\"{open:false}\">\n<button class=\"flex items-center gap-4 my-2 border-none w-full\"><br \/>\n<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"h-6 w-6\" fill=\"none\" viewbox=\"0 0 24 24\" stroke=\"currentColor\" stroke-width=\"2\"><path stroke-linecap=\"round\" stroke-linejoin=\"round\" d=\"M4 8h16M4 16h16\"\/><\/svg><\/p>\n<h2 class=\"font-semibold text-slate-800 text-base m-0 js-toc-ignore\">In this article<\/h2>\n<p><\/button><\/p>\n<\/section>\n<p><em>This article is presented by RentRedi. Read our\u00a0<a href=\"https:\/\/www.biggerpockets.com\/editorial-guidelines\" target=\"_blank\" rel=\"noreferrer noopener\">editorial guidelines<\/a>\u00a0for more information.<\/em><\/p>\n<p><span data-preserver-spaces=\"true\">How do you classify yourself as a landlord or real estate investor? Are you a rookie emerging on the scene? Do you identify as an independent or small landlord? Or are you perhaps a property manager with a few rentals under your belt?\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">How you see yourself in relation to the real estate world can depend largely on how others like you classify themselves. And this can include anywhere from a mom-and-pop landlord to a large multifamily corporation. However, with the advent of modern technology, there\u2019s a new type of landlord on the scene \u2014 the\u00a0<\/span><strong><span data-preserver-spaces=\"true\">digital landlord<\/span><\/strong><span data-preserver-spaces=\"true\">.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Previously being a real estate investor or landlord came with a lot of manual tasks. Things like collecting rent, <a href=\"https:\/\/www.biggerpockets.com\/blog\/important-landlord-forms\" target=\"_blank\" rel=\"noreferrer noopener\">sorting through paper applications<\/a>, and even navigating maintenance issues were time-consuming and tedious. But with technological advances in the real estate landscape, tech is transforming historically manual pain points of the renting process into seamless, simple, and digital.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">What Is A Digital Landlord?<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">A digital landlord is someone who uses <a href=\"https:\/\/www.biggerpockets.com\/blog\/transformative-tech-tools\" target=\"_blank\" rel=\"noreferrer noopener\">technology<\/a> to manage their properties. This can include anything from property management software to keyless tech to remote security measures.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Now, you might not even consider yourself a digital landlord, but I bet if you look around and examine your business operations, you\u2019re more tech efficient than you think.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">For example, most of us use spreadsheets of some kind to track and organize certain aspects of managing rentals. This can be anything from noting who\u2019s paid rent and for what property, which leases are ending soon, who\u2019s completed an application, and accounting.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">So, even something as simple as a spreadsheet indicates that you\u2019re likely more of a digital landlord than you might initially think. After all, even using your phone to check a text from a tenant can start to create this image of what a digital landlord is and how it can help define your business.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">How Is Tech Creating Digital Landlords?<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Tech is creating digital landlords with a wide range of offerings (everything from automated rent collection to accounting software) and use cases (landlords communicating with tenants or tenants electronically submitting rent payments) for landlords and real estate investors to adopt.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">As widespread as digital technology is these days, it\u2019s almost impossible not to be a digital landlord to some degree. As noted earlier, even using your phone or a spreadsheet has its technological advantages. These mechanisms make calculating, communications, and management easier with the tech they offer. It would be a different story just 10-15 years ago! Most communications likely weren\u2019t done on a cellphone yet, and you might still have been using paper and pen to track rent payments!<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">However, the increase in technology has almost inadvertently created a digital landlord. After all, isn\u2019t it much easier to get ahold of a tenant or teammate with email and text messages than it is trying to track someone down or pinpoint a mutually available time to meet? Firing off a quick text can easily resolve negotiating meeting times and efficiently communicates a message.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">You can even get ideas or research the tech other real estate investors are using on TikTok! Yes, that\u2019s right. Even social media apps where investors are offering content can be a great addition to your tech toolbelt and bring you one step closer to being a digital landlord.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In addition to phones, spreadsheets, and TikTok, property management software has increasingly become a way for digital landlords to manage their properties.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">What Features To Look For In Digital Real Estate?<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Property management software offers a lot of features that can make the digital landlord feel like managing investment properties is a breeze. When it comes to determining which parts of your business you can enhance using digital tech, examine where in your business you\u2019re doing tasks manually, which pain points are holding you back from leading a rewarding real estate experience, and what tasks you\u2019d like to make simpler.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Below, we\u2019ve listed out some common pain points in real estate that can be simplified or strengthened with tech:<\/span><\/p>\n<ul>\n<li><span data-preserver-spaces=\"true\">Rent collection<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Tenant payments<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Tenant screening<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Late fees<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Tenant communication<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Maintenance requests<\/span><\/li>\n<\/ul>\n<p><span data-preserver-spaces=\"true\">Property management software is a tech option that you can use to tackle all of these traditional pain points. For example, rent collection can be automated with customized charges that are auto-populated for tenants, automatically scheduled, and even automatically generate late fees.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Doesn\u2019t that sound a whole lot easier than crunching numbers or picking up checks?<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Tenant communication is another aspect of managing rentals that can be strengthened with digital technology. You can use property management software to send an email and push notifications to a tenant\u2019s phone so that they\u2019re reminded of upcoming <a href=\"https:\/\/www.biggerpockets.com\/blog\/landlords-venmo-paypal-collect-rent\" target=\"_blank\" rel=\"noreferrer noopener\">rent payments<\/a>, maintenance repairs, trash pickup, or any other notification you require!<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Benefits Of Being A Digital Landlord<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">There are many benefits of being a digital landlord \u2014 the first being the ability to manage your rentals from anywhere. Because digital tech is so mobile and versatile these days, you\u2019re likely to be able to manage most aspects of your business right from your smartphone.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">And, because you\u2019re able to manage your rentals using digital technology, this can free up more of your time by eliminating manual tasks. With more of your time back, you\u2019re able to spend it doing what you love.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">You can also increase the value of your rentals by offering tenants options like signing up for credit boosting to submit on-time rent payments to bureaus like TransUnion. Historically, if you\u2019re collecting rent via check or cash, it isn\u2019t possible for tenants to build their credit using rent payments.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">To recap, the main benefits of being a digital landlord are:<\/span><\/p>\n<ul>\n<li><span data-preserver-spaces=\"true\">You can manage your rentals from anywhere<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">You can spend more time doing what you love<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">You can increase the value of your rentals<\/span><\/li>\n<\/ul>\n<h2><span data-preserver-spaces=\"true\">How To Become A Digital Landlord<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Finally, we\u2019ve come to the question: \u201cHow do I become a digital landlord?\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">As mentioned earlier, there are several aspects of technology you can adopt that will cement your image as a digital landlord.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Looking to become a digital landlord and adopt these features? RentRedi\u2019s property management apps can help! Automating your rent collection, tenant screening, late fees, e-lease signing, and electronic applications are key aspects of going digital and managing your entire real estate portfolio from an app.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">RentRedi was developed to help landlords go digital and manage their properties from wherever, whenever. Easily collect rent, screen tenants, fill vacancies, sign leases, and manage maintenance with the tech you need to manage your rentals.<\/span><\/p>\n<p><a class=\"editor-rtfLink\" href=\"https:\/\/rentredi.com\/?utm_source=BiggerPockets&amp;utm_medium=sponsoredarticle1.19.23&amp;utm_content=GetStarted\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Get started using RentRedi today!<\/span><\/a><\/p>\n<div class=\"is-layout-flow wp-block-group border border-gray-200 p-6 rounded-md has-slate-50-background-color has-background\">\n<div class=\"wp-block-group__inner-container\">\n<h3 class=\"has-text-align-left mt-0\"><strong>This article is presented by RentRedi<\/strong><\/h3>\n<figure class=\"wp-block-image size-full\"><picture decoding=\"async\" class=\"wp-image-146440 sp-no-webp\" title=\"How To Become A Digital Landlord 2\"><source srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/01\/rentredi_logo_300x100_black_e8flvm.webp 450w,https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/01\/rentredi_logo_300x100_black_e8flvm-300x101.webp 300w\" sizes=\"(max-width: 450px) 100vw, 450px\" type=\"image\/webp\"><source srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/01\/rentredi_logo_300x100_black_e8flvm.png 450w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/01\/rentredi_logo_300x100_black_e8flvm-300x101.png 300w\" sizes=\"(max-width: 450px) 100vw, 450px\" type=\"image\/png\"><img src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/01\/rentredi_logo_300x100_black_e8flvm.png\" decoding=\"async\" loading=\"lazy\" class=\"wp-image-146440 sp-no-webp\" title=\"How To Become A Digital Landlord 2\" alt=\"rentredi logo\" height=\"151\" width=\"450\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/01\/rentredi_logo_300x100_black_e8flvm.png 450w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/01\/rentredi_logo_300x100_black_e8flvm-300x101.png 300w\" sizes=\"(max-width: 450px) 100vw, 450px\"\/><\/source><\/source><\/picture><\/figure>\n<p>RentRedi is a modern, end-to-end property management software transforming the real estate and rental property industry.\u00a0<\/p>\n<p>RentRedi provides over 15,000+ landlords with simple and effortless web and mobile apps for online rent collection, tenant screening, listings to Zillow and Realtor.com, signing leases, maintenance &amp; accounting management, and unlimited properties, tenants, and teammates<\/p>\n<p>For tenants, RentRedi\u2019s easy-to-use mobile app allows them to pay rent, set up auto-pay, report rent payments to TransUnion, prequalify &amp; sign leases, and submit maintenance requests.<\/p>\n<p><a href=\"https:\/\/rentredi.com\/?utm_source=BiggerPockets&amp;utm_medium=admodule1.19.23&amp;utm_content=RentRedi\" referrer:=\"\" class=\" btn-shape inline-block no-underline has-background has-theme-blue-background-color has-text-color has-white-color\" target=\"_blank\" rel=\"noopener\">Learn More About RentRedi<\/a><\/p>\n<\/div>\n<\/div>\n<p class=\"italic\"><b>Note By BiggerPockets:<\/b> These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.<\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.biggerpockets.com\/blog\/how-to-become-a-digital-landlord\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In this article This article is presented by RentRedi. Read our\u00a0editorial guidelines\u00a0for more information. How do you classify yourself as a landlord or real estate investor? Are you a rookie emerging on the scene? Do you identify as an independent or small landlord? Or are you perhaps a property manager with a few rentals under [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":3834,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[33,1],"tags":[],"_links":{"self":[{"href":"https:\/\/frankbuysphilly.com\/wp-json\/wp\/v2\/posts\/3833"}],"collection":[{"href":"https:\/\/frankbuysphilly.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/frankbuysphilly.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/frankbuysphilly.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/frankbuysphilly.com\/wp-json\/wp\/v2\/comments?post=3833"}],"version-history":[{"count":0,"href":"https:\/\/frankbuysphilly.com\/wp-json\/wp\/v2\/posts\/3833\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/frankbuysphilly.com\/wp-json\/wp\/v2\/media\/3834"}],"wp:attachment":[{"href":"https:\/\/frankbuysphilly.com\/wp-json\/wp\/v2\/media?parent=3833"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/frankbuysphilly.com\/wp-json\/wp\/v2\/categories?post=3833"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/frankbuysphilly.com\/wp-json\/wp\/v2\/tags?post=3833"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}