Effective property management may appear to be easy, but it can be quite challenging, and there is a lot of paperwork that must be dealt with effectively. Rent collection, taking action when tenants are disruptive or fail to pay the rent, evictions, administration of deposits and finding suitable tenants can all be time-consuming and stressful tasks that must be sorted out as they arise.
Harnessing the power of technology
Smartphones have ushered in a new era of communication, with all kinds of advanced programmes and apps to help people keep track of their personal and professional matters. There is no reason that smartphones cannot be a vital tool for landlords to help them juggle the complex business of managing a rental property.
The best apps
There are a number of apps designed to help landlords remain organised. AppFolio allows detailed tracking of rent, maintenance and documents. Buildium can screen tenants and collect rent online. TenantCloud is less detailed but free up to a certain level of data usage. Rent Manager can be tailored to your specific needs, but it is less mobile than the others, requiring a remote desktop as a base and some tech knowledge to operate.
There is also a drawback to being dependent on your smartphone. If you misplace your smartphone, that could mean saying goodbye to a great deal of valuable data, and it may be difficult to catch up on all the issues that require attention. According to a report in The Telegraph, the loss of a smartphone can almost be as stressful as the fear of being involved in a terrorist attack.
Stress can have an extremely negative impact on health, so employing an agent could be a good choice simply for peace of mind. If you’re considering looking for property management in Dublin, it would be worthwhile to consult experts in this area such as http://clients1st.ie/ for advice and support.
It is also worth keeping in mind that your time is worth money, and most of the good technology available involves fees. Rent Manager, for example, costs £75 per month. Ultimately, it is up to you to decide whether the advantages of managing your own rental property outweigh the anxiety and time this takes from doing things that are more enjoyable.