So you finally have a few full rental properties in your portfolio and you're feeling confident. But now, you're struggling to keep up with them. Rental payments are getting lost in the mail, you're forgetting to respond to tenant emails, and you're struggling to keep track of all of your documents.
There's a better way. We're here to talk about how the addition of a simple tenant portal can make your life easier.
Read on to learn more.
1. Better Tenant Communication
One of the first benefits of using a tenant portal for your rental property is that it may improve your overall tenant relations. You want to have a good relationship with your tenants! After all, happy tenants are more likely to renew their leases and recommend your property to others.
So how can a portal help?
Without a portal, it may be challenging to keep track of your tenant communication. You may be juggling text messages, voicemails, and emails. Even if you try to be diligent, it's possible to let messages fall through the cracks.
When it comes to things like lease questions or maintenance requests, this isn't acceptable.
With a tenant portal, you can have all of your tenant communication in one place. Your property management company can help you respond to everything as well, freeing up time for you.
2. Streamlined Rent Payments
How do you collect rent payments?
Some old-school landlords still collect cash or checks, but unless you live on the same property as your tenants, this is inconvenient. Checks may be obsolete within the decade, so it's time to modernize.
Digital payments are easier for all parties, and digital payments through a tenant portal are even better. You can collect your rental income with ease.
Tenant portals allow tenants to pay online. They can attach their bank account or credit card and pay with the click of a button. You can also set up rent reminders so the tenants never forget to pay.
Tenants can also set up automatic payments, making everything even easier for them.
3. Easy Access to Documents
In a perfect world, everyone would have a neat and organized filing cabinet for all of their important documents. In the real world, life gets busy and messy. That's not always an option, and sometimes things get lost.
Sometimes tenants need access to their lease documents. Maryland tenants have a right to a copy of their lease. With a tenant portal, you can ensure that they always have that access as long as they have access to their computers.
When a lease is available online, it's easy for tenants to reference it, renew it, and even negotiate it with you if they have a concern. No more excess paperwork. Save a tree by putting it all online.
It's Time to Use a Tenant Portal
So what do you think? Are you ready to upgrade your rentals with a tenant portal? Between easier lease access, better tenant communication, and easier rent payments, it's clear that a tenant portal is the way to go!
Being a landlord can be tough. At PMI Maryland Solutions, we help Rockville landlords set up tenant portals, make tough decisions, and more. Get your free rental analysis or set up a consultation today!