Strategies for Incorporating Technology in Property Management

Serial entrepreneur Kyle Krch founded several real estate-focused businesses, including Heartland Neighborhood Homes and Krch Realty, both based in Reno, NV. Through his companies, Kyle Krch hopes to improve the ability of real estate investors to manage their properties remotely through technology.

Traditionally, the hands-on requirements of effective property management have made investors reluctant to expand their portfolio in distant locations. However, improvements in technology have made it easier for property management firms to streamline their duties and provide investors with up to date information about the state of their properties. Property management software can digitize most tasks such as screening tenants, tracking and collecting rent, and filling vacancies.

These same systems can collect and analyze data to inform marketing efforts and planned improvements that will attract high-quality tenants. This includes using virtual walkthroughs and drone footage to give potential tenants a vivid image of the layout of an available property. Further, property management companies with interactive maintenance requests systems can improve tenant satisfaction by responding to repairs in a more timely fashion.