Renters in the United States are a significant portion of the population, with around 43.32 million rented housing units in 2021.
Owning one or more investment properties can help bring in extra income but also come with many responsibilities. Before you can start making a profit, you need to advertise the unit, find and screen tenants, etc.
As we move deeper into the digital age, real estate software is more available than ever. For instance, a tenant portal can help you get your investment properties under control.
If you want to learn the secret to effortless income, keep reading. Here are five reasons you need a tenant portal.
1. Open Line of Communication
Communicating with your tenants is not always easy, so the first way you can benefit from a tenant portal is that it makes communication much more accessible. This applies both ways; you can initiate contact with the tenant as they can you.
A tenant portal will also keep transcripts of all communication within the software database. This can help if you need to recall a previous conversation.
If you need help setting up a tenant portal, investigate which Vancouver property management companies are nearby. You can hire one to teach you or request that they take over managing your properties entirely.
2. Effortless Rent Collection
An investment property is an excellent source of extra income, but only if the rent is paid regularly and on time. The second benefit is that a tenant portal offers your tenants a convenient way to make rent payments, which means fewer delayed payments.
A tenant portal will also allow you to analyze data about your tenants, such as how often they delay their rent payments. With this data, you can identify troublesome tenants and move to evict them if they don't start paying rent timeously.
3. Automatic Reminders and Alerts
Even though tenant portals may offer tenants a convenient way of making rent payments, they must still be reminded that rent is due. Using a tenant portal means you don't have to handle these reminders.
The software will automatically send alerts and reminders on a specific monthly date. It can alert you if the rent payment is late and send another reminder to your tenants before they incur late fees. These automatic notifications can save you time and allow you to focus on more pressing matters, knowing your investment properties are under control.
4. Easy Maintenance Requests
Fielding property maintenance requests can often happen at an inconvenient time, like while you're at driving or in a meeting. Another benefit of using a tenant portal is that your tenants can log faults and maintenance requests, which you can attend to more conveniently. The portal will also keep logs of all maintenance requests, should you need to refer to them in the future.
5. Access to Important Documentation
Finally, you and your tenant can benefit from having all necessary documentation available 24/7. Because they're available online, you won't be interrupted by your tenant asking for copies of several documents. These documents can include:
- Lease agreements
- Addendums
- Warnings
Sign Up for a Tenant Portal Today
Owning rental properties can be time-consuming at the worst times. That's why using a tenant portal is so highly recommended.
You can handle communication, maintenance requests, and rent collection. You can also access essential documentation 24/7.
It also offers your tenants a convenient way to communicate directly with you or your property manager. With all these benefits, it's difficult to say no.
Contact us today if you're in Jacksonville and need a top-quality property management company. We have highly professional staff waiting to build a long-term relationship with you.
