Only 63% of renters say their relationships with their landlords are good or excellent, and 6% rated theirs as terrible. No matter which side you're on, it's imperative that it goes smoothly. Otherwise, you're in for a hard time.
To facilitate better relationships, you should use a tenant portal. It may be a new piece of technology to learn, but trust us when we say you have tons of benefits to reap from using one.
Read on to find out the top four advantages you can get from using a tenant portal.
1. Easier Rent Collection
When you use a tenant portal, you won't have to worry about face-to-face meetings for rent collection anymore. This can be a pain to coordinate, and any other methods may not be secure.
When you use an online portal, not only does it eliminate the in-person factor, but it also enables you to collect rent automatically. No longer will you have to remember to ask your tenants for money, as the portal will do it for you. In fact, it'll send out automated reminders, which will decrease the number of late payments you get.
On the other hand, it's beneficial for your tenants, too. There's less of a responsibility to remember to make payments, and they can easily do so by logging on and clicking a few buttons.
2. Better Communication
Better communication is one of the top ways to encourage lease renewals, so this will score you points. The tenant portal will centralize your communication, as you can send mass messages to your renters. This will cut down on the time and effort you previously spent.
Your tenants can also make maintenance requests and ask questions through this portal. It'll leave a paper trail of inquiries, which means fewer things will slip through the cracks.
3. 24/7 Accessibility
60% of people are a mix between morning larks and night owls, so keeping a 9-to-5 mentality for your business operations won't be good.
The beauty of an online portal is that it's available 24 hours a day. This gives both you and your tenants more flexibility to log on and take care of business on your own terms.
4. More Organized Document Management
With each tenant, you'll have to sift through all your documents to give them the appropriate ones when they sign a lease. Then, you'll have to do the same when they leave. Factor in everything in between, and it'll be a mess.
A tenant portal allows you to store and manage all documents. You and your renters can easily access them and have hard evidence of when they were accessed and signed (if applicable).
Start Using a Tenant Portal
A tenant portal can only bring positive change, so it's worth the investment. Not only will it benefit you, but your renters, too.
But don't try to find a portal on your own, as it can be a tiring process. Instead, work with a property management company since they'll already have a reliable site to use, plus many other advantageous services.
Contact PMI Indianapolis if you'd like to hear about our property management services. We'll use our 20 years of experience to improve your tenant relationships.