Landlords Can Leverage Technology to Increase Revenue

Technology

As a landlord, you’re always looking for ways to give a boost to the bottom line. With technology a huge part of that bottom line these days, it only makes sense that you’re going to look to it not only to increase revenue but to improve your tenants’ experience as well.

So what are the ways in which you can do this? Here are a few that we’ve collected:

  • Use machine learning and artificial intelligence for optimal pricing strategies. With many new companies emerging with the exact intent of using data analytics and machine learning to predict rent-related factors, you won’t have to do all the heavy lifting yourself. 
  • Include high-speed internet in the rent, which in turn increases the rent you’ll be able to charge. 
  • Collect payments via technology in order to reduce your late-pay and no-pay numbers. Tenants these days are all about streamlining their experience – and offering online payments does just that.
  • Use technology such as Nest to manage your building temperature, water, and other utilities for sustainability and to save on waste. Not only can you do this online, but you can do it from anywhere.