At least 82% of U.S. renters are looking for units with smart technology. This is according to a study by Rent.com, which was posted by Exploding Topics.
Smart home technology makes rental properties more secure and comfortable for tenants. Managing rental units with the latest technology is also more convenient. Property managers in Brainerd, MN, use modern real estate technology to streamline management and increase cash flow.
Want to know how technology is transforming the Brainerd, MN, real estate market? Stay ahead of property technology trends with our detailed insights.
Artificial Intelligence (AI)
AI helps property managers engage with landlords, tenants, and customers more effectively. Effective communication enhances the client experience. Through AI, a property management company can:
- Answer all relevant questions
- Evaluate tenant inquiries
- Predict potential tenant problems
- Automate lease application
- Streamline maintenance schedules
Some types of AI that property managers in Brainerd, MN, can leverage include:
- Chatbots
- AI-driven virtual assistants
- AI-driven surveys
- Speech recognition systems
Real Estate Data Analytics
Analytics makes it easy to review a property's electrical, HVAC, and plumbing systems data. This enables management companies to forecast necessary property upgrades. As a result, there are timely inspections and repairs.
This real estate technology also enables easier risk management. Through predictive maintenance, property managers can mitigate risks such as:
- Electrical hazards like fire outbreaks
- Mold and mildew growth
- Carbon monoxide leak due to HVAC damage
- Potential lawsuits by tenants
Real estate data analytics allows for easier property valuations. You can get insights into:
- Minnesota real estate market trends
- Future price trends
- Local GDP
- Property's current state
- Property's structural integrity and maintenance history
Such insights can help you create strategies to increase your investment's rental income. Work with a company utilizing this technology to make profitable investment decisions.
Drones
Property managers can use these digital real estate tools to conduct routine inspections. Drones provide clear videos of a property's parts and surrounding areas. They enable easier inspections of a property's building structures and roof.
Images and videos collected during inspections are good proof of a property's damage. This allows landlords or property owners to claim higher insurance benefits.
Property managers can also use drone videos to market your rental unit. Drones' efficiency in collecting images saves money and time in property management workflow.
Real Estate Software
Accounting software is an innovation that promotes accurate real estate bookkeeping. This minimizes errors, such as:
- Incorrect budgeting
- Rent payment duplication
- Tax compliance errors
- Tenant ledger errors
- Wrong data entry
- Inaccurate financial reporting
Real estate accounting software streamlines the collection of rent. This happens through customized alerts and real-time reporting. Property managers integrate the software with rental portals for easier tracking.
When choosing real estate software for your rental unit, consider features like:
- Tenant management
- System Integration
- Accounting and budgeting
- Maintenance tracking
Leverage Real Estate Technology Today
Real estate technology makes property management efficient and convenient. It also allows easier tracking of finances, maintenance, and safety.
Looking for a modern property management company that can boost your investment's profitability? PMI Minnesota utilizes the latest property technology and effective management strategies to boost landlords' cash flow.
Contact us today to learn more about our property management services.
