Imagine a device that transports your landlord right to your building the moment you have an issue. Until that day comes, the tenant portal is the next best thing.
As its name suggests, it offers essential features to tenants such as documents and communication. The best part is that they're not the only ones who can reap the benefits.
Read on to learn the benefits of a tenant portal for owners and tenants.
Benefits of Online Portals for Tenants
86% of renters want to interact digitally with the manager of their properties. More technology attracts better tenants and improves their satisfaction.
A tenant portal is one of the best options. They can access any information they need at any time. That covers everything from reading over their lease at 5 a.m. to checking if their maintenance request went in before they went off to work.
Paying on the portal is more convenient because they can check their balance and do it from anywhere. They can even set it to pay automatically.
Online portals allow for quick and easy communication. The tenant can talk to their landlord or send in a maintenance request whenever needed. They can also talk to each other to create relationships or handle issues before going to the owner.
Benefits of Online Portals for Property Owners
Maximizing return on an investment home has a lot to do with the tenants. You need to screen them well, retain them, and charge the right rent for the current market.
That's why setting up a tenant portal is so important. It's one of the first things you should do after buying an investment property.
Property owners have a mess of documents to deal with. An online portal lets them access it at any time, including:
- Owner statements
- Ledgers
- Receipts
- Invoices
- Tax documents
Over 8 million adults are behind on rent payments. Online rent collection reduces the number of late payments. It's more convenient and reminds tenants when their payment is due or even does it for them.
92% of landlords listed repairs as one of the top three demands of managing a rental property, with 40% considering it the most demanding. A tenant portal lets maintenance requests get handled faster. This keeps tenants happy, prevents further damage, and keeps owners compliant with local standards.
Using the portal encourages positive tenant relations. It makes communication easy and transparent and provides a record of what everyone said to look back on. This prevents disputes on either side.
Online portals are even more essential for owners with multiple properties. They can check the status of each one at the touch of a button.
How Property Managers Can Use Your Tenant Portal
A tenant portal lets tenants and property owners instantly access information, make payments, and communicate with each other. This leads to better relationships and makes the process easier for everyone.
It also benefits property managers because they can use it to keep an eye on and respond to problems. Take the next step and contact Reliant Property Management for property management in Murfreesboro today.
