Technology has revolutionized real estate.

It is now easier to manage assets with digital tools to increase productivity, track performance and strategize asset growth. Income property is now the center of attention in the real estate market.

The business of real estate has been upgraded with technology so both established investors and new property owners can reap the benefits of keeping up with the best-practices in the industry.

In popularity city areas with new developments breaking ground and new gut renovations catered to a tech-savvy and affluent tenant market, the use of digital systems can differentiate an asset in a competitive market.

A growing number of tenants, from residential and commercial, now prefer to process their leasing payments and manage management communications online.

Mailing a check and leaving voicemails is becoming a thing of the past, with residents who want a convenient and easy sign-in process to schedule rent payments and track maintenance requests with email notices.

Online management systems often increase the marketing to close speed for prospective residents with the automated publishing of availability on websites, lead tracking systems and online leasing with an instant tenant screening process.

Property website and property management system along with targeted digital marketing strategy can positively impact income property performance.

A Growing Income Property Market

Income property is an excellent way to diversify income and secure your financial future.

The recent influx of shows and celebrity investors who market real estate seminars all tout the benefits of flipping property and investing with income-producing assets.

This financial investment strategy is taught by countless real estate experts and gurus as the solution to build wealth with a revenue stream.

Established investors and property investment firms can attest to the power of leveraging income-producing assets to produce monthly cash flows and grow a portfolio.

With consideration for investing in the right markets, at the right time, real estate is an asset always guaranteed to increase in value with inflation.

In today’s economy, people are now realizing that the traditional employment pension plans are very likely a thing of the past and the “safety net” social security will probably be non-existent.

More people are now looking to invest in multifamily developments, property investment funds, rehabilitation projects and land acquisitions for ground-up construction.

New and existing owners must understand the financial implications of managing a property and the importance of maintaining an asset performance and increasing the return on investment in the digital age.

Digital Tools for Better Real Estate Performance

There are many operational requirements to consider for income property especially for multi-unit buildings, luxury developments, and mixed-use buildings.

These assets often require more robust management practices often operate more efficiently with the integration of digital tools for payments, maintenance, and accounting.

Whether you are an individual investor or a real estate development firm, the most important numbers will always be related to profitability and asset performance – and digital marketing now has more of an influence on the income potential.

An investor must understand how to have consistent methods for occupancy to keep the revenue stream positive – and technology has an important role in operations from attracting tenant leads to capturing payments and management property operations.

Investors will have to take on the responsibilities of property management or outsource to a management company, often for a percentage of the rental income, to handle the day-to-day operations of the investment.

Nevertheless, it is important to create the best strategy to attract new tenants and /or businesses to occupy your space once a vacancy comes available or notice is given.

There a variety of digital tools and methods to market property online to reach and attract the attention of qualified renters and commercial businesses tenants.

More Than Craiglist and Leasing Agent

There are many robust property management systems like Yardi, AppFolio, OnSite and Buildium have modules and controls panels that operate as the back-end office to manage your property with an accounting system to track expenses and revenue.

Many of these programs also feature portals for tenants to manage important transactions like digital leasing paperwork, property marketing, rental payment, parking and amenities fees, maintenance requests, and vendor work orders.

Betty of Boston specializes in the CRM setup and website integration of software systems for individual owners, real estate investment firms and property management companies who own or manage residential and commercial assets.

Attracting tenants for full occupancy for the first year lease-up and having a continual stream of residents who occupy units can be achieved with a digital presence and online marketing.

We’ve been involved in the development of business websites for owners and managers of single-family homes, small to mid-sized multifamily and commercial properties, and larger luxury communities and developments.

Our expertise ranges from web development for leasing in luxury residential community and commercial development to designing private deal rooms and investment offerings for Class A and B portfolios in the capital market space.

Attracting a Retaining Your Ideal Occupants

Managing income property isn’t only about signing leases and collecting rents.

It also involves building relationships and maintaining a high level of customer service with your current tenants and prospective renters interested in your property with a full circle marketing strategy.

Effective communications through email campaigns and social media is a great way to not only attract new renters but also retain tenants who love their building, and often spread the word.

Residents rave reviews can go a long way with their recommendations with personal relationships or online through social media review sites like Google and Yelp.

Mid-sized and larger properties should monitor online reviews within their digital strategy.
Reviews are highly visible on search engines can set a community apart with social validation and credibility in the market of leasing communities.

There is an abundance of opportunities in real estate and understanding the components of property marketing will give investors the best financial results.

When properties use an effective marketing strategy to demonstrate value to the most qualified market, the odds of reaching projected rents and accurate market value increases.

Reaching the most qualified prospective tenants early can minimize the need to offer discounted rent specials or offer too many incentives which can sometimes cut down on the bottom line.

A solid marketing strategy will include some key components like identifying your target market, setting revenue expectations for the property (based on location, amenities, etc) and completing a competitive analysis of similar properties marketplace.

There are several other factors to consider but to reach your target market effectively, the property must be visible on the places where they spend the most time.

Online visibility is essential – whether it be through search engines, property search portals or social media, people are using their devices to search for the next place to live or establish a business.

Contact us today to reach your market, get found online or improve your existing operations and marketing strategy.