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With the recent pandemic and the constant technological advances being made globally, it is going to become harder to compete in the rental market without embracing PropTech. If you are wanting to know more about how to take a modern approach to the way your portfolio is managed, this blog is for you.

What is PropTech?

PropTech is the short form version of the term property technology which refers to the digitisation of the property industry. Examples of this include anything from  automated infrastructures to the use of artificial intelligence and virtual reality. So let’s delve into how this can help you as a landlord.

Streamlined tenant checks

So much goes on behind the scenes in letting a property and one of the key areas is making sure that your tenant has been properly referenced. With PropTech solutions, these processes are able to be conducted online with limited hassle. At Propfinity, we pride ourselves on being a digitized lettings and property management solution for landlords who want to  leave  the hassle of the lettings process in the hands of a trusted professional. Our automated systems mean you are always kept up to date every step of the way and our technology allows your to let your property from the comfort of your mobile device.

Use of PropTech in rental properties

Smart technologies are a huge attraction for prospective tenants. You will want to stay current by considering the use of smart meters and smart security to get ahead of the competition. With more tenants now working from home, offering high speed broadband would not go a miss! We are not saying that these things are now mandatory but it will definitely help to set your property apart so you can attract tenants who want to rent with you long term which means guaranteed rent for longer. If you are looking for smart technology solutions for your rental property, Propfinity can help!

Virtual reality

The use of virtual reality is becoming more prevalent everywhere we look and the rental market is no exception.  The pandemic gave rise to more and more virtual tours of properties for tenants and virtual valuations for landlords. This has been very attractive for tenants who are time-poor and would welcome such an offering, meaning that you can stand out from the crowd.

Another game changer is virtual staging which is seeing increasing popularity, giving tenants a feel for what their new home could look like if they rented from you. At Poprfinity, we can offer virtual staging as part of our services, if this is something you would be interested in, please do get in touch.

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