There are over 44 million tenants in the U.S., which means landlords must work hard to maintain healthy working relationships.
Using an online tenant portal has various benefits, from saving time to making it easier to stay in contact. But if you've never considered this technology, you likely won't know how essential it is for managing tenants.
Sounds like you? Luckily, we've got the answers you're searching for. Here are the main benefits of using a tenant portal for owners and renters.
Makes Rent Collection Easier
One of the top tenant portal benefits is that it makes rent collection easier. Tenants get reminders so they can pay their rent on time and look at their previous payment history. For landlords, this is a lifesaver as you have records in one place, so you can check if there has been a missed payment.
Further, property owners can use management software to track fees. This includes security deposits, pet fees, and penalties for late rent payments. Regardless, the software lets property owners oversee finances to prevent issues later on.
Helps You Manage Paperwork
Aside from helping with rent management online, tenant portals help landlords deal with paperwork.
Owners use property management software to store lease agreements and maintenance reports, which saves a huge amount of time. It means landlords can easily access these important documents.
Schedule Maintenance Requests Easily
Tenant portals are great for rental management tools because they let owners and property managers schedule maintenance requests. Using the software, tenants can report issues so that landlords can respond in a timely fashion. This makes it easier for property owners to set a date that works for tenants and contractors.
Simplifies the Lease Renewal Process
Another benefit of using tenant services online is that it makes renewing leases easier.
Landlords want to encourage this as it slashes their property's vacancy rate and means they don't need to deal with the stress, from marketing the rental to investing in move-out upgrades. But when you use the tenant portal, you can send a digital copy of the new lease for tenants to sign with zero hassle.
More Secure
If you're handling sensitive data and funds like security deposits, you need an ironclad online solution. This is where tenant portals come in.
Property owners get peace of mind knowing that important documents are secure behind a password, which will prevent them from falling into the wrong hands and causing issues, such as identity theft.
Top Benefits of Using an Online Tenant Portal
Now that you understand how a tenant portal can benefit you, it's time to use one for your property. Once you do, you'll notice that rent collection is easier and tenants are happier because they can contact you around the clock.
At PMI OKCity Local, we use the latest software to organize tenant-landlord documents to communicate with both parties. Our goal is to keep residents happy and protect our clients' investments.
If you're interested in our property management services, we'd love to hear from you. Drop us a line to chat with a member of our team.
