Successful landlords use technology to meet tenant needs

What residents want, landlords are now expected to provide.

The most successful landlords today try to provide their residents with excellent service. What do today’s renters want? HousingWire and Rental Housing Journal described some of the priorities of millennial renters. Millennial renters care about a rental property’s cost, location, and commute time to work. Recently GlobeSt. reported that sustainability is becoming a more important issue for tenants as well.

Not just millennials, boomers rent too

Baby boomers are the other big renter group these days. When choosing a housing rental, baby boomer renters care about price and location. Baby boomer renters want a rental that has good walkability and ease of maintenance. The baby boomer and millennial generations make up the majority of the rental market. National Real Estate Professional reports that technology and community are also big priorities.

Knowing what renters want, technology can help landlords meet the following expectations:

  • Community. Landlords can use technology to provide tenants with information about the neighborhood. Managers can use technology to schedule and hold events to build community. Buildings where neighbors create community have higher levels of satisfaction. Having happier tenants results in longer tenancy and better online reviews.
  • Communication. Landlords who communicate with their tenants have much greater levels of resident satisfaction. Property management today has become more service focused than ever before. Technology can help provide more streamlined communications to tenants.
  • Ease of Living. Buildings that use technology upgrades are able to offer on-demand services. This means the manager can provide a higher level of service to residents with less time and effort.
  • Security. On site cameras, sensors and smart locks offer better security at rental properties. With technology, managers can make residents more safe and secure.
  • Affordability. With rising costs of rental properties, some landlords are providing roommate matching services. With a roommate, living costs can be cut in half or more.

Technology is more than a luxury, it's an expectation

With some creativity, landlords can can use available technology to help meet many tenant needs. Careful consideration and research will help determine what technology is worth the time, effort and cost. Residents appreciate when efforts are made to increase their satisfaction and improve the quality of their community.

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