Are you the type of landlord who still does things the old way?
In today's modern world, it's hard to imagine that about 78% of tenants pay their rent using old-school checks. This happens because their landlords haven't provided them with more convenient ways to pay rent.
Technology has revolutionized various aspects of managing tenants, from tenant acquisition to rent collection. One tool that's central to this progress is the tenant portal.
If you're on the fence about investing in a tenant portal, you've come to the right place. Read on to learn how it can make your life as a landlord simpler.
Easier Tenant Onboarding
Onboarding a tenant isn't just about handing them the keys to the house. That might have worked back in the day when there wasn't much going on in a house, but with today's modern houses with appliances and electronics whirling and whizzing, landlords have to show renters their way around.
A tenant portal can make this task easier. For example, you can upload instructions on how to operate various appliances on the portal. Your tenants can quickly access these instructions and get on with their day.
Several other documents can be shared through the tenant portal, including property use policies and tenant leases.
Landlords have a legal duty to ensure their rental property is reasonably safe and habitable. This means tenants have a right to raise necessary maintenance and repair requests.
Ordinarily, this would involve calling you on the phone or sending a text message. If you're a busy landlord, it might not be possible to respond to answer these calls every time. You can even miss the call and forget about it... until it's too late.
Landlords can face liability lawsuits if a tenant is injured on the property. If you didn't mend an uneven floor and someone falls and gets injured as a result, you could be on the hook for their medical expenses and other costs.
A tenant portal simplifies the management of maintenance requests. Tenants can log in and file requests, and you'll receive them in real-time.
The modern landlord wants to collect rent without lifting a finger. That's possible thanks to digital payments. With electronic payment processors like PayPal, tenants can pay rent from wherever in the world they are, and landlords can receive the funds in real-time.
A tenant portal takes that convenience to the next level. Depending on its features, various payment methods can be built into it, giving tenants greater flexibility. Plus, portals can have tools that automatically generate and issue rent payment receipts.
All in, this level of convenience adds to tenant satisfaction.
Unlock a Stress-Free Life with a Tenant Portal
A good tenant portal will require a substantial financial investment from your end, but it's worth it. It will make several aspects of your functions easier, from tenant onboarding to rental collection.
However, if you'd like to take a hands-off approach to being a landlord, hiring a full-service property manager is the better investment. PMI Amazing Spaces stands ready to take over your landlord duties in Charlotte, NC.
We're locally owned and operated but are part of an experienced national property management franchise.
Learn more about our services.