Just 15 years ago, smartphones were in their infancy. They were a luxury only a select few could afford. Now, almost 7 billion people own one.
It's safe to say that our devices and the Internet are now a mainstay of everyday life. People need them to pay bills, do their work, and communicate with loved ones. Many people, as a result of this, expect to have an online tenant portal to pay their rent.
Having a portal for tenants makes things more convenient, not just for your tenants, but for you. In this guide, we take a look at 5 benefits of using one as a real estate investor.
1. A Tenant Portal Provides Information
Suppose a tenant wants to take a look at their contract. Instead of pestering you with calls after having misplaced it, they just open it on their phone. It's never been easier to check a line item from the contract.
If there's ever a discrepancy or problem, you can simply direct them to the portal to clarify their issue.
2. It Helps with Tenant Screening
Tenant screening is an essential means to differentiate good tenants from bad. It ends up being a tedious process, though, involving a lot of back-and-forth with physical documents. Make it easier on yourself by doing it through a tenant portal.
Applicants can enter their information, scan documents, and consent to a background check, all from their web browser.
3. It Helps with Documentation
Suppose your tenant decides to buy a pet. Assuming you allow pets in your rental property, you probably want a record of that dog or cat. Use the tenant portal to gather information on it.
You could include a fillable form straight from the portal to enter the pet's name, breed, weight, and so on. You can approve the form and keep a record of it within seconds, no paperwork is required.
4. It Saves Time
Many people would argue that time is far more valuable than money. There are only so many hours in the week for you to work and relax. Finding ways to reduce the time you spend collecting rent or dealing with tenants could be a game changer.
That's what a tenant portal does. It automates many of the mundane tasks that you would have to do through emails and phone calls. If nothing else, get a tenant management portal to shave a few hours off your weekly workload.
5. It Provides 24/7 Support
No landlord likes being woken up at 2 AM with a tenant call unless the house is burning down. Sadly, some landlords can never relax because they're on call at every hour of the day. A tenant portal can be your 24/7 help desk so you get a good night's sleep.
There's a lot a tenant portal can do that might otherwise be a pesky text or call. Maintenance requests, late payment requests, you name it.
Manage with PMI Mason Dixon
A tenant portal is a highly recommended tool in our Internet age. Through it, tenants can handle everything from rent payments to getting clarification of rental policies. It helps landlords manage better, yet spend less effort and time.
PMI Mason Dixon helps you manage your properties with years of industry experience. Use our rent analysis tool, or give us a call to speak to a member of our professional team.
