The Future of Real Estate: Tech Trends Impacting Palm Desert Rentals

Real estate and property management are industries which are constantly evolving, and with the rise of technology, we’re seeing major shifts in the way properties are priced, managed, rented, and even bought and sold. Investors can now buy real estate sight-unseen from across the world. Tenants can see homes on their own, without a leasing agent leading them from room to room. Payments are digital and swift, and artificial intelligence (AI) is automating a lot of what once took hours for property managers to process. 

Palm Desert, with its sunny weather and stunning landscapes, has always been a desirable location for residential renters and real estate investors drawn to profitable markets. As technology continues to change the way we work within the scope of Palm Desert property management and real estate, let’s take a look at the tech trends that are impacting local rentals, and what they mean for investors in the future.

Predictive Maintenance and Palm Desert Investments

Whether you’re thinking about selling an investment property that no longer serves you, evaluating a potential rental, or deciding how to budget for preventative repairs and maintenance that might be coming up in the next year, you need information to make smart decisions. 

Repairs are cheaper and more easily managed when they’re expected. Surprises never help, and they’re certainly never a part of your investment strategy. 

If something goes wrong and needs an immediate fix, you can expect higher prices even from your most trusted and reliable vendors. 

There’s technology available to make it easier to predict when maintenance will be needed at your rental property. You can plan for it, line up your vendors, and make room in your budget. Some of this is due to the AI technology that’s now available to analyze sensor data from buildings, estimating when preventative maintenance might be needed. Following trends and evaluating needs is much easier with the tech that’s now available. 

Marketing Technology: Virtual Tours and Self Showings

One major change that technology has brought to the real estate industry is the ability to take virtual tours and to provide self-showings when a renter or a buyer wants to see a property. More and more property managers are now offering virtual tours of rental properties, allowing prospective renters to view the space from the comfort of their own home. This is especially valuable for out-of-state tenants who are planning a move. 

Virtual tours not only save time and money for renters, but they also offer a convenient way for property managers to showcase their rentals. Self-showings offer the same convenience. Scheduling can be nearly impossible for property managers and for the prospective tenants who want to see a home. With a lockbox or a digital key, prospects can let themselves into a property for a set amount of time and take a look around on days and times that are convenient for them.

Smart Home Technology as a Real Estate Selling Point

The real estate industry is also learning to leverage smart home technology to attract and retain buyers and renters to the properties listed on the market. 

• Buyers will be looking for a home that’s wired and read for all the smart home tech they may be bringing from their existing home. 
• This type of technology is more of a priority for residents in rental homes than ever before. 

Your best renters are going to want access to good internet speeds and they’ll be willing to pay more for technology such as video doorbells. With so many renters continuing to work remotely, they’ll be at home more. Your appliances will be used more, your security will need to be as up to date as possible, and you’ll need to deliver what tenants are looking for.  

Smart devices are good investments, whether you’re selling a home or renting one out. Smart thermostats, lighting systems, and security cameras are especially in high demand. And, these systems can be interconnected to create a seamless network of operations that are intuitive and efficient. 

For investors, the properties they’re renting out will be more attractive to the best-qualified residents. For real estate brokers and agents, this will be a selling point when they’re listing a home. 

Online Payment Systems

Gone are the days of sending paper rent checks through snail mail. Online payment systems have become the norm in the Palm Desert rental market, allowing renters to make their payments quickly and easily as well as securely. Not only does this make the lives of renters easier, but it also streamlines the payment process for property managers, allowing them to spend less time dealing with paper checks. It also reduces the potential for fraud, as account and routine numbers cannot easily be copied.

Short-Term Rental Platforms

The rise of short-term rental platforms like Airbnb and VRBO is having a major impact on the Palm Desert rental market, especially since this can often be a seasonal spot for people to live. Many property managers are now offering short-term rentals to appeal to those looking for a vacation rental in Palm Desert. This trend not only offers an additional revenue stream for investors, but it also allows renters the flexibility of choosing a rental property for a shorter period of time.

Finally, property management software is playing a major role in the way properties are managed in Palm Desert. From tracking rent payments to scheduling maintenance requests, property management software helps us stay organized and efficient while we’re working to help you earn more and spend less. This technology allows for better communication between property managers and renters, leading to greater satisfaction on both ends.

The future of real estate is increasingly tech-driven, and Palm Desert rentals are no exception. The rise of virtual tours, smart homes, online payment systems, short-term rental platforms, and property management technology are all changing the way properties are rented and managed in Palm Desert. As an investor, it’s important to stay up-to-date on these trends, as they will without a doubt continue to shape the real estate industry in the years to come. 

We can tell you more about technology and the future of your real estate. Contact us at Xepco Properties.