The demand for rentals is on the rise, and more are choosing a lease over a mortgage. What can you do as a landlord to get more renters? Utilize the impressive benefits of a tenant portal.
If you want to learn more about how a tenant portal can help you, keep reading.
What Is a Tenant Portal?
Rental portals bring property management, tenant screening, and rental leasing for landlords into the 21st-century. We do everything else online now—mobile banking, shopping, applying for jobs—so why not move your company to the digital space? A rental portal is an online alternative to collecting rent checks and calling up new renter’s references.
What Are Some Features of a Tenant Portal Program?
Online platforms for rental management take the guesswork and stress out of communicating with and collecting payments from your renters. Here are just a few things you can do with digital renter software:
Accept Rent Payments Online
Collecting rent payments by check is unreliable and is losing popularity quickly. In fact, the practice of check writing has dropped by over 50 percent in favor of card and electronic transactions. Additionally, with cyber security and personal identity protection on everyone’s minds, leaving a paper trail behind with checks is not the safest option.
Online payment programs have secure and encrypted options for digital transactions. They protect the identity of the sender and receiver.
Tenants also have the chance of setting up automatic deductions from a bank or credit/debit card. As the manager, you will have access to transaction history so you can make sure rent has been paid on time and at the agreed-upon cost.
Allow Renters to Submit Requests 24/7
Issues in rental buildings do not always occur during working hours. Sometimes a pipe bursts at two in the morning, or a tenant has minor requests like a hole in the wall.
Accepting maintenance requests online can link renters directly to maintenance staff. You will not have to be a go-between.
This feature makes scheduling maintenance within appropriate timeframes. Both parties will also have a record of the service requests and orders when it comes time to discuss lease renewal or security deposit refunds.
A tenant portal not only improves communication between renters and landlords but it can help neighbors connect more easily. Many online portals have forum-type pages where multiple people in an apartment complex or residence can post and talk with one another. This helps build a sense of community, making lease renewal more likely.
How Does a Tenant Portal Benefit Property Managers?
Beyond improving turnaround on payment times and receiving maintenance service requests in a timely fashion, tenant portals benefit landlords in every step of the leasing process.
For example, if your potential residents have accounts on the portal already, you will be able to see notes from previous property managers. This feature allows renters to give positive reviews or share issues they observed.
Tenant management software is also an attractive feature. Those looking at homes for rent who already control their finances online or via mobile will be drawn toward this opportunity.
Take Tenant Management Into the Future
Managing your rentals is easy with a tenant portal. You can accept payments online, receive maintenance requests at any time, and improve communication between all parties. The advantages of using this type of tech for your property management are nearly endless.
If you have questions about leveraging online renter software, follow this link for personalized property management advice.