top 5 rental technology tools - landlordology - lucas hall

RENTAL MANAGEMENTTECHNOLOGIES5

TOP

BY LUCAS HALL

MY STORYLucas Hall, PMP • Landlord, ~10 yrs

• 4 Properties / 17 Tenants

• Founder, Landlordology

• Community Mgr, Cozy

• IT Gov’t Consultant

OUR INVESTORS

Online Applications, Rent Payments & Tenant Screening

FREE

WE’RE EVERYWHERE

TECHNOLOGY

BLESSING?

© SIEMENS

PROMISES TO• Connect You

• Solve Problems

• Save Time

• Increase Profits

SOFTWARE +

RELATIONSHIP

CURSE?

© C2 AND ITS ENTITIES

BUT OFTEN DELIVERS• Confusing

Features

• Learning Curves

• Partial Solutions

• Ongoing Maintenance

COMPLEX & OVERWHELMING

WHAT’S THE DIFFERENCE?

YOU!

VS

LANDLORDS

PROP. MGRS

(RALPH FURLEY)

(THE GATE KEEPER)© MARVEL AND PARAMOUNT PICTURES

LANDLORDS1. Manage only their own properties

2. Some are accidental

3. Most have other (full-time) jobs

4. Are involved w/ maintenance

5. Report earnings/losses on 1040s

PROPERTY MANAGERS1. Manage dozens/hundreds of units

2. Are the middlemen

3. Reporting/accounting are paramount

4. Are more organized than landlords

RENTAL TECHNOLOGIES

TOP 5

CLOUDTHE

1. ONLINE APPLICATIONS

BENEFITS1. Minimizes barriers

2. Easily sharable

3. Consolidated applicants

4. Faxes / Scanners going extinct

2. ONLINE CREDIT REPORTS

BENEFITS1. “Soft inquiries”

2. No entity or site visit required

3. Identity verification

4. Integration

5. Mitigates storage requirements

1. Experian Connect

2. TransUnion SmartMove

3. Equifax Identity Report

DATA SOURCES & TOOLS

CREDIT BUREAU

SOFTWARE

LANDLORD TENANT

DISCONNECTED PROCESS

CREDIT BUREAU

SOFTWARE

LANDLORD TENANT

SEMI-INTEGRATED PROCESS

API

CREDIT BUREAU

SOFTWARE

LANDLORD TENANT

INTEGRATED PROCESS

API

SEX OFFENDER DATABASE www.nsopw.gov

3. DIGITAL SIGNATURES

BENEFITS1. Easier, quicker, & more efficient

2. Legally binding

3. Remote signings!

4. Online storage

5. Complies w/ federal & state regs

SIGNING TOOLS1. HelloSign

2. SignNow

3. DocuSign

4. Property Management Software

4. ONLINE RENT COLLECTION

BENEFITS1. No more checks

2. Can be automatic

3. You get paid faster

4. Easier for everyone

5. Decrease in late rent

5. INSPECTIONS

INSPECTION TOOLS1. Happy Inspector

2. zInspector

3. Smart Phone Apps

4. Property Management Software

RENTAL SOFTWARESINGLE

SERVICEMULTIPLESERVICES

THE KITCHEN SINK

COST VS. FEATURES

COST

FEATURESO

TOP CHOICES1. Landlords

1-20 self-managed units

2. Small PMs20-100 units

3. Large PMs 100-1000’s units

SO WHAT?

HOW WILL YOU IMPROVE?

RESOURCESwww.landlordology.com

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!

www.cozy.co

(IT’S FREE)