With the advancement of technology, things have changed in the way that things are done. What was once a long and arduous process when it came to renting your home with or without property management has now become a process that is as simple as clicking a couple of buttons on a website and voila, you have rented your property. Whether you have a property management company helping you with your home and renting or you don’t, it is always important to keep track of all the little details that are involved in renting your home and the challenges that come up in our renter nation.
Following are different ways that technology can make renting easier for you and your busy lifestyle:
- If you are forgetful or have a difficult time remembering things, you can download apps that will remind you of everything having to do with your home. Whether you need to fix something in your home on a certain date or make sure to pick up paperwork from a tenant, you can be reminded of this in a timely manner.
- Showing your home used to be much more difficult, but with the advancement in technology, not only in better phone cameras but also with special apps is changing the way that people catch the attention of renters. For example, there are apps that do something known as virtual home staging. You take a picture of your unfurnished rooms and then you can digitally “furnish” it. This helps to make it much easier to get the perfect shots of your home or condo so that you can rent it.
- Because it’s much easier to have payment done online and through websites in the current environment of the renter nation, homeowners are able to receive rent as quickly as possible and communicate easier with their tenants. While property management is important for homeowners who live in another city and who would like someone physically able to check on their property and communicate with renters, they can more easily keep track of what’s going on and receive payment automatically.
If you do have a property management company, you can work with them through technology to always ensure that your property is up to standard, that you get your money on time, and so you can get your house rented on time.
How Technology and the Millennials Contribute to the Renter Nation
Another way that technology has helped homeowners to be able to rent is that millennials are less interested in owning homes than the previous generation was making the U.S a renter nation. This may be due to a number of reasons, such as:
- Many young people have spent more money on their education and are less interested in buying homes, due to needing to pay back large loans.
- Young people are getting married less than the older generation and far later than their parents did. For this reason, not many of them are looking to settle down in large homes. Most millennials are content to live in and rent a smaller apartment or affordable condo for the time being.
- With the advancement in technology and the onslaught of social media and the attraction of world travel, many people who would have bought homes by now are instead spending their money on traveling to exotic places while renting a small apartment. For many people, this is worth the sacrifice of having their own home.
- Millennials are busy. They are working hard, traveling a lot, and spending a lot of time in different pursuits that weren’t available for parents. Because of this, many aren’t looking for the burden of a mortgage on their shoulders and would prefer to simply pay rent and focus their attention and money elsewhere.
What does this mean for homeowners? Simply put, now is the time for homeowners who want to rent their homes to be able to do so. The U.S has seen a big increase in a number of people who rent over buying, so those who were thinking of selling their home may want to hold back during this era and see about renting.
It doesn’t seem like this trend will change anytime soon which is one reason why you may want to find property managers in Albany to help you with the details of renting your home and keeping up with the maintenance of it to ensure that your home stays well-kempt and up-to-standard.
If you were thinking about renting your home during this phase of the real estate market, it’s a good time to give it a try. Of course, it always helps to have a property management company in Albany help you with the details. That way you make money without all the stress and what could be better than that?