Do you ever feel like there should be 30 hours in a day or eight days in a week? When we are busy, the tasks filling up our daily to-do list can seem overwhelming. You might even start wondering whether you need to hire a personal assistant.
But there may be a better option. Read on to learn how technology can transform real estate for you and your tenant. Specifically, we'll introduce you to the benefits of an online tenant portal for your Atlanta property.
It Helps Improve Communication
A good relationship between landlords and tenants happens when you put communication first. Regular interaction helps to sort out minor issues before they become more significant problems.
The advantage of using an online portal is that it serves as a hub, keeping all your communications in one place and encouraging you to keep those interactions going.
Tenants can use it to notify landlords about a maintenance issue.
Landlords can use it to remind tenants about an upcoming rental payment. It's convenient and means important conversations won't get lost or forgotten.
Tenant communication tools help foster trust and respect between both parties, ensuring the tenancy is long and successful.
It's Available 24/7
When you do everything by phone, you're restricted to regular working hours. If you want to deal with rental issues in person, those times will be even more restricted.
Property management software, in contrast, is 24/7, so it can accommodate anyone's schedule. When tenants log in to pay their rent, they can do so at a time that suits them.
Suppose they want to see their rental statements. In that case, they can see them immediately without waiting for the landlord to email them.
Owners, meanwhile, can access the online portal at any time to check on their property. They will immediately know if rent payments are late or if there is an outstanding maintenance request.
24/7 access also provides extra convenience when you are in a different time zone, such as if the landlord or the tenant goes on vacation.
It Streamlines Rent Payments
One of the central administrative overheads of rental management is overseeing monthly payments. You'll need to keep a calendar of due dates, send reminders, and issue fines for late payments.
From the tenant side, rent payments involve setting up a bank transfer in advance or adding a monthly reminder to your phone so you don't forget to pay on time.
An online portal replaces all that admin, providing an easy and streamlined online payment system. Plus, you can see all your payment information in one place.
From an owner's perspective, you don't have to worry about a tenant forgetting to pay before they go on vacation. Online portal payments are reliable and transparent.
Maintenance and Property Management Efficiency
As an owner, your maintenance requests will grow in proportion to your real estate portfolio. While one property may not be hard to manage, there comes a point when you need a more streamlined process.
One of the best features of any online portal is the maintenance management. Here, tenants can raise new issues or make maintenance requests, and the landlord gets a notification.
Both parties can see the open issues at a glance, and the owner can review and prioritize these to ensure the most pressing problems are resolved first.
It's also a convenient way to assign contractors and coordinate the repair schedule between the repair team and the tenant.
It's a Secure Repository for Documents
You'll accumulate plenty of essential documents about a rental. Landlords will have copies of lease agreements, safety certificates, and financial reports.
Tenants will have personal information they used to apply for the property and need a copy of the lease agreement.
An online portal ensures you keep the most updated version of these documents in one place for either party to view when they need access.
It's also safe and secure and a better option than keeping sensitive paper documents on a shelf in your office.
For landlords, this also has the added benefit of giving assistants and property managers the information they need without the hassle of packaging up documents and emailing them across.
Better Accounting
Online portals can transform your accounting practices for a rental business. Since payments and transactions are automated, you won't have to write down details in a spreadsheet.
That helps a tenant, too, if they want to review past payments.
Online reports also have reporting capabilities. That is handy if you want an overview of your annual finances for your real estate business. At a glance, you can see all payments and income.
It will help you spot potential problems or areas where you can improve your profit. All that, plus the reduced administrative work, means any investment in an online portal pays for itself with its long-term financial advantages.
You Get Automated Notifications
Automated notifications have become a central part of modern life; now, we all have smartphones. It reminds us about task deadlines, important meetings, and general day-to-day admin.
That's why online portals have notifications as a standard feature.
You can use these notifications almost like a personal assistant, sending reminders about rent payments due, lease renewal dates, and property inspections. So you will never have to worry about forgetting an important task.
This organized approach also makes life easier for tenants. They can see what's happening with their property from one screen and don't need to worry about chasing an urgent maintenance issue, for example.
Is It Time You Switched to a Tenant Portal?
For real estate owners, the benefits of a tenant portal can be transformational.
They streamline your operations and keep all your information in one place. Plus, they appeal to your tenants, who will value a more systematic and organized approach to property management.
Platinum Property Management Services, Inc. is the standout real estate company in Atlanta for good reason: We place great importance on delivering exceptional service.
Review our package of services to find out how we can help support your property management needs.
