The Importance of Technology When Managing Las Vegas Rental Properties - Article Banner

When you’re looking for a professional Las Vegas property management company to effectively lease and manage your investment or your portfolio, you need a local expert with a lot of professional and industry resources. You need experience and strong tenant management skills. 

But that’s not all.

An investment in technology is more important than ever. 

Property managers cannot do their jobs effectively or efficiently without a great platform for leasing, managing, and maintaining your property. 

There are a lot of important benefits to investing in technology, and an informed property owner understands why it’s so necessary to the effective management of your property. Even if you’re not exactly an early adopter of new technology yourself. 

We recommend you make technology a priority when you’re seeking a property management partner. You don’t want to be left with higher expenses and longer vacancies because your property manager refuses to invest in better systems. You need a company that values and invests in technology and the flexibility and adaptability it provides. 

Many of the online and digital platforms specific to the property management industry have come a long way in the last decade. If your property manager still uses a paper ledger and writes out your rent check by hand every month, it’s likely costing you money.

Technology Keeps Your Las Vegas Property Manager Flexible and Adaptable

Surely you remember the height of the COVID crisis, when exposure to the deadly virus meant it was difficult to show properties, sign leases, and conduct maintenance walk-throughs and emergency repairs. Without high-quality technology in place, it would be impossible to continue renting out properties. 

Those companies that had good technology in place were able to conduct business as usual. It was a lifesaver during a global catastrophe that brought a lot of less-prepared companies to ruin.

The Las Vegas property managers who were able to continue providing outstanding service to their owners, tenants, and vendors, were the managers who already had great technology in place. 

Surprises and emergencies will always require quick thinking and decisive action. It’s easier to protect you and your investment when there’s reliable technology in place. You want a management company with a tech-driven process for showing homes, collecting applications, screening tenants, and signing leases. You want to make sure rent can be collected online.  

Automation keeps your property manager adaptable to whatever local or global conditions may be making their job a little more challenging.

Lower Las Vegas Vacancy Losses

You’re especially likely to see the benefits of good property management technology during the leasing process. 

The goal of any effective leasing process is to get your home rented as quickly as possible to the most qualified tenant for the best rental price. It’s hard to do that without a strong investment in technology. 

For example, no one is looking for rental properties in the classified ads anymore. Signage is still a good way to market your property, but you’re not going to reach nearly as many prospective tenants as you will with online advertising. 

Good tenants are looking for their next Las Vegas rental home online.

To market your home effectively, a property manager needs to be able to share your listing on dozens or even hundreds of rental sites. A good property management software system does this with ease, syndicating your advertisement across all the sites that tenants are using. We can also:

  • Track the results of your listing
  • See how many people viewed your listing
  • Keep a database of tenants who contact us
  • Schedule showings
  • Offer applications 

If you’re wondering about whether any prospects have contacted us with questions about your property or to schedule a showing, we can give you exact statistics. This can help us make decisions about how to best price and market your rental home. It will also tell us who is likely to rent your home.

Vacancies are filled faster because your property gets more exposure and tenants have a much easier time requesting more information and scheduling a time to see the home. Technology delivers a lower vacancy rate, and that means lower expenses for you.  

Screening Las Vegas Tenants with Advanced Technology

Screening applicants is not always easy, especially if you’re an independent landlord trying to navigate best practices, fair housing laws, and the intense background checking that needs to be done. There’s a sense of urgency when it comes to getting a tenant approved, and while you want to work quickly, you don’t want to skip any important steps. 

Technology helps us screen tenants faster and more accurately. 

A legally compliant screening process requires us to collect a lot of financial and personal information – even on tenants we won’t ultimately approve. Good property management software helps us to stay compliant with the Fair Credit Reporting Act and keep everything organized and documented.   

With a consistent application process, we don’t have to worry that one application will be treated differently than another. We aren’t able to hold one applicant to different standards than all the other applicants. We have a well-documented screening process, and that keeps us compliant with all laws – reducing your risk and liability. The system we use helps us remain objective.

Not only is our screening process safer from a fair housing standpoint, it’s also faster with the best use of our technology. Instead of waiting for a week to find out if they’re approved, most of our tenants hear back from us within a day or two. This gets the entire process moving a lot faster, which is better for you financially and better for your tenants as they make their moving plans.

We also have online systems to walk-through, photograph, and document the condition of your home before a tenant moves in. We take and catalog photos, videos, and notes. All of this documentation is loaded into your online portal, where you can easily access it. We also use it when the tenant is preparing to move out, and we need to conduct a move-out walk-through and make determinations about the security deposit.

Las Vegas Rental Property Repairs and Technology

Tenants prefer to report routine maintenance issues online, and we prefer it too, because it means we know immediately when something is wrong at the property. This is a huge benefit because it creates a written record of all the work that’s been done on your rental home. You’ll know exactly when your roof was replaced, your plumbing was updated, and your gutters were cleaned out. You’ll have a detailed maintenance report that follows every repair, from the time it was reported to the time it was resolved.  

Seeing a maintenance history like this can save you money on unnecessary repairs or help you make better decisions about when to replace something rather than repair it again. 

Using technology for maintenance allows us to do a better job protecting the condition of your investment property. There’s a much lower risk of deferred or unreported maintenance because tenants have an easy way to let us know when something is wrong. They can even provide pictures and descriptions, and they can do it from their own computers, tablets, or even their cell phones. 

Vendors also appreciate our ability to stay digital and efficient with our property management platforms and software. Any time they’re responding to a work order or following up on work that’s done, we have an accurate, transparent, and detailed record to share with them. It improves our working relationships, and it keeps our preferred vendors and contractors happy to work with us. This works in your favor, especially when it comes to emergency maintenance and cost-effective repairs.

Even better – we can load invoices and receipts immediately into your owner portal. We can conduct thorough maintenance walk-throughs and provide reports with photos and videos. You stay more informed and your property stays better protected. 

Accounting Statements and Online Rent Payments 

Online PaymentsProviding online rental payments reduces late and missing payments. 

Tenants find it secure and convenient to log on at any time of the day or night and pay the rent from the comfort of their own home. 

Your renters don’t want to pay late fees, and with our technology, there’s no need for them to be late in paying. 

You get paid earlier because the money is on the move, from the moment tenants pay rent. You will be paid electronically as well, eliminating the frustrating wait for a check to arrive in the mail. Our technology also allows us to automate all of our accounting, providing the type of transparency you need when you’re staying organized or filing taxes.

Ultimately, technology helps a Las Vegas property manager communicate better and work more efficiently. 

Insist on advanced technology when you’re looking for a Las Vegas property management company. It’s the best way to ensure a smooth and profitable rental experience for you and your tenants. 

Please contact us at New West Property Management. We’re passionate about the services and value we provide to the owners and investors who trust us with their properties. Our team expertly manages residential rental homes in Las Vegas and throughout Clark County, including Henderson and North Las Vegas.