What Is a Digital Landlord?

By Emily Koelsch 

Digital landlord is an increasingly popular term, so we thought we’d dig into what it means for real estate investors. Before getting started, it’s important to note that there are two different types of digital landlords: those that manage digital assets and those that use technology to manage physical real estate.

We’ll discuss the second category – Landlords that leverage software and technology to manage their real estate portfolios. To help you understand this growing category of Landlords, we’ll discuss what digital Landlords are, why this strategy is increasingly popular, and how you can get started as a digital Landlord. 

What It Means to Be a Digital Landlord of Residential Real Estate

A digital Landlord is someone who uses technology to self-manage their rental property. A true digital Landlord uses technology in every phase of the rental process, including: 

• Marketing the property
• Rental applications and tenant screening, 
• Lease creation, signing, and renewal 
• Collecting rent and issuing rent receipts 
• Sending official notices
• Tenant communication 
• Keyless entry

For example, a digital Landlord markets their property using online platforms like Zillow; provides applicants with an online rental application; screens Tenants using online screening services; creates a Lease electronically that can be reviewed and signed online; and uses electronic rent payment systems. 

The Benefits of Being a Digital Landlord

There are some clear benefits to being a digital Landlord, and we’re seeing more investors take this approach. The biggest benefit is that it makes property management more efficient. This increased efficiency makes it possible for more investors to manage their own rentals. 

Real estate investors benefit from self-managing their properties because it allows them to select Tenants, oversee repairs and maintenance, and stay in communication with Tenants.  Unfortunately, property management can be time-consuming and stressful if you don’t have the right tools. Digital landlords take advantage of technology to automate more tasks and make property management less time-consuming. 

Another huge benefit for digital Landlords is flexibility. They can manage properties from anywhere and have more control over the hours they dedicate to property management. This means investors have the flexibility to buy properties out of state, move, or travel. 

Beyond these two advantages, there are several other benefits of being a digital Landlord: 

• Consistently for Tenants. Automated systems and procedures provide consistency for Tenants. This consistency improves Landlord and Tenant relationships and improves your Tenant’s experience. 
• Necessary records and documentation. Effective systems for property management help you stay organized and ensure you have the documentation you need for taxes and dealing with Tenant issues. 
• Preventative Maintenance. Leveraging technology makes it easier for Landlords to be proactive about preventative maintenance and repairs, which helps keep rental units in good condition. 
• Scalability. Once you have property management systems in place, it’s easy to grow your real estate portfolio and continue to self-manage your properties. 

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Looking for the next level of landlord software before handing off to a property manager?

Hemlane is a software that is built to grow with your needs as a landlord.

For a minimal amount, there’s a really good basic package but what we love is the option to upgrade and add 24/7 maintenance management on. 

Hemlane offers complete financial support as well.  You can link multiple bank accounts for direct deposit rent payments, add automatic late fees, sends reminder notifications to your tenants, and has a detailed profit and loss statement that can includes automatic and manual uploads of income and expenses.

It gets better!  If you reach a place where you are ready to hand off management to a property manager, Hemlane has that too under their “Complete” option. You can try Hemlane out FREE for 14 days (no credit card required) to see if it’s a good fit for you!

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The Tools You Need to Get Started a Digital Landlord 

The key to becoming a successful digital Landlord is having the right software, resources, and tools. Each Landlord develops their own systems, but there are a few “must haves” to be successful as a digital landlord. 

Here’s our list of tools you need to get started as a digital Landlord. 

1. Online rental application and tenant screening services. 
2. Electronic Lease creation, signing, and storage. 
3. A system for Tenant communication, including both informal check-ins and maintenance requests. 
4. A system for sending official documents like Notices and Lease Renewals. 
5. Electronic rent collection. 

Partner with ezLandlordForms to Become a Digital Landlord 

If you’re interested in managing your rental properties digitally, visit ezLandlordForms.com. We have the tools you need to become a digital Landlord, including Tenant Screening Services, state-specific Lease Agreements, and property management forms. 

Plus, we have a customer service team available seven days a week to help you implement these tools and get started as a digital Landlord. Visit ezLandlordForms.com to create a free account or chat with our team.

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