In the United States, renting is a more affordable option for many. This is because, for years now, house prices have increased over 40% faster than their rental counterpart.
If you're a landlord of one or multiple rental properties, you know how challenging it can be to manage everything monthly. There is always so much documentation involved, and collecting rent on time can often be a big issue.
This is where a tenant portal can help. If you've never heard of tenant portals, this article is exactly what you should read.
Keep reading if you want to know how a tenant portal can streamline your rental management. We're giving you four ways it can help.
It's Accessible 27/7
One of the first ways a tenant portal can benefit you and your tenants is by being accessible at all times of the day, seven days a week. This means that both you and your tenants can access any information they need at a convenient time. No more having to wait for office hours to get hold of the lease agreement.
Automated Rent Payments and Reminders
Another excellent way tenant portals can help you as a landlord is by offering your tenants the option of automated rent payments. For example, your tenant can schedule an automatic monthly or weekly payment for the rent.
This means you'll receive the rent on time and won't have to deal with late or non-payments. With everything going digital nowadays, you'll find more people will appreciate being able to handle their rent payments electronically. This system can also send automatic reminders when it's close to the rent collection date.
Open Communication Channel
While email is still a viable method of communication, a tenant portal offers a direct messaging system that everyone can use. So, if your tenants have any questions regarding rent or maintenance requests, they can contact you or your property management company directly.
This tenant portal will also keep a copy of all communications so you can easily access them later if you need to. This portal will also send notifications about rent payments and lease renewals. These messages significantly reduce the chances of your tenant missing these crucial matters.
Access To Important Documentation
Finally, with everything being stored on the cloud, all parties have access to all documentation regarding the rental unit. This means you, your property manager, and your tenant can access documentation such as the lease agreement anytime.
Because these documents are stored on the cloud, all parties can access them whenever needed. This reduces wasted time because no one must wait for another party for the information.
A Tenant Portal Will Make Property Management Smoother
You need a tenant portal if you want to avoid being hassled with document or maintenance requests from your tenants or late or non-payments. This portal is an excellent way for all parties to access all vital documentation. It can offer an easy way for all parties to sign the lease and provides your tenants with the option of automatic rent payments.
Book a free rental analysis today if you're in Clarksville, TN, and need a top-notch property management company. Our services include rent collection, tenant screening, maintenance requests, eviction processes, and more.
