If you have stacks of rental paperwork in your office and twenty phone calls to return, it might be time to invest in a more 21st-century system for property management.
Gone are the days when rental properties required a big juggling act.
Today, the smartest property managers and landlords use state-of-the-art online portals instead. Here are some of the benefits you can expect to see when switching to an online tenant portal.
It Offers a Convenient Way for Tenants to Pay Rent
A portal allows your tenant to pay their rent online, which means they can keep up with payments anywhere, anytime, even on vacation.
It's also easy for landlords and tenants to track payment history, helping reduce inquiries or disputes on late payment penalties. It's more accurate and reliable for rent payments.
It Helps Track Maintenance
Maintenance can sometimes become an admin headache, with reports and updates coming in via phone calls, texts, or email. It makes more sense to keep that in one place, and that's what an online portal offers.
Tenants can log into the system and see what's happening with an issue they reported, and landlords can log in to review open issues, priorities, and updates from contractors.
It's an Easier Way to Manage Documents
As you build your real estate portfolio, you'll accumulate much necessary documentation. That will include things like:
- Leases
- Contracts with vendors
- Building safety certificates
- Invoices for repairs
Having all this information in one place will help you stay organized, reduce your administrative overhead, and be more secure.
It Streamlines Communication
An online portal lets you keep all your communications in one place. You won't need to worry about searching through old emails or recalling what someone said on the phone.
That's more transparent for tenants and more efficient for landlords. Plus, it makes it easier for someone else to take on the property management responsibility if the main point of contact is away on vacation.
It Offers Reporting Capability
As your real estate business grows, so will your need for high-level reports. You'll want snapshots of:
- Property and tenant status
- Financials, including each property budget
- Overview of maintenance issues
Property management software has built-in reporting capability. So you can always log in and see what's happening with your investments.
It's Available 24/7 for Rental Management
We live in a 24/7 world, so tenants don't expect to have to wait until 9 a.m. to report a problem with their property. Having a portal available 24/7 is convenient for everyone: landlords, contractors, and tenants.
It means that if you prefer sorting rent payments at 10 p.m. at night after your workday is finished, you can do that.
Invest in a Tenant Portal for Your Property Business
A tenant portal gives you an opportunity to streamline your property management. It saves time, keeps your tenants happy, and helps you stay organized.
At PMI Property Pros, we have a team of experienced property managers who can handle all your tenants' needs. With streamlined processes and state-of-the-art technology, your property will always be in safe hands. Discover more about our services in Milwaukee, WI.
