Every year, renters pay $485 billion to their landlords. This makes being a landlord an appealing decision, especially since it brings in a steady source of passive income. But that doesn't mean it won't come with its own set of challenges.
Luckily for you, we live in a time where technology is always growing by leaps and bounds. And today, many landlords use tenant portals, which means you should too.
This article will show you the benefits of using such tech and why you should've been signed up for one long ago.
Tenants Can Pay Rent Conveniently
Forget about the days when tenants have to bring a physical check to your office. They can log onto the portal and pay from anywhere they wish, whether it's from the comfort of their apartment or while riding a bus to work.
While they're logged in, they can see exactly how much they owe, so they don't have to go through the extra step of contacting you to find out.
Tenants Can Make Maintenance Requests
It can be a hassle to call the property manager to request maintenance for a unit. They may not answer, or they might forget to put your request through, which means you have to start the process all over again.
A tenant portal gives your renters control over the situation. They can put in the request at any time, and then they can check up on the status whenever they wish.
Tenants Can See All Documents and Data
In Colorado, tenants aren't required to have a formal lease agreement to establish tenancy. However, having written lease documents is in everyone's best interest. That way, you can refer to it to establish what is and isn't allowed.
You can put everything up in the portal so your renters can see this information whenever they want. They can also print it out if necessary, all without bothering you.
Reduce Stress as a Landlord
Reminding all your tenants to pay rent can be stressful and time-consuming. It can become even worse when you have to chase them up for late payments. Handling maintenance calls as a property owner can be an ordeal too.
But with rental property software, you won't need to do these things anymore. You'll enjoy more free time, as renters can pay rent on the portal, as well as check their balance, make maintenance requests, give notice to vacate, and more.
Sign Up for a Tenant Portal
There are numerous benefits of using a tenant portal, and this article only scratches the surface.
The reality is, having property management solutions can truly bring in passive income for landlords. So don't hesitate to sign up for a tenant portal; it'll change your life and make everyone's lives easier!
If you'd like more than a tenant portal and are interested in property management solutions, then contact us today.
