No one invests in a rental property to make their life harder.
If you find you're spending too much time dealing with renters and their issues, it might be time to implement a tenant portal. These online platforms make it simple for tenants to communicate with you or your property manager.
As every landlord should know, tenant communication is key to having a thriving rental property. Keep reading, and we'll tell you the four benefits of using a tenant portal to make your tenants happier and your life easier.
1. Reduces Administrative Work
The most obvious benefit you'll see when you use a tenant portal is a reduction in administrative work. Even when you have great tenants, dealing with their requests and rent payments can be overwhelming, especially when you have multiple properties.
A tenant portal helps renters answer their own questions. It'll send them alerts when rent is due and give them a single place to view rent receipts and legal documents, as well as place their requests and queries.
All of the information you need about your rentals and tenants is easily found in your tenant portal. You don't have to chase anyone down for payments or keep track of maintenance duties - it's all kept track of online.
2. Easy Rent Collection
A tenant portal makes it easy for you to collect rent online. You don't have to deal with individual tenants, chasing them down for rent payments every month. You don't have to worry about collecting cash or cheques and depositing them into your business bank account.
Using the portal, tenants can input their payment information each month or set up automatic payments. You won't need to worry about as many late or missed payments.
3. Quick Maintenance Requests
It can be hard to keep up with regular maintenance on rental properties, which tend to suffer a lot of wear and tear. When your tenants request maintenance, however, it should be a major priority.
A tenant portal makes it simple and easy for your tenants to let you know when an appliance is broken or there's a leaky faucet. You'll be notified of the problem via the portal, and you can deal with it accordingly. This prevents you from neglecting maintenance duties and frustrating great tenants who you want to keep around.
4. Fewer Vacancies
The Miami rental market is a competitive one. Great candidates are going to expect their landlords to be organized and efficient. Having a tenant portal will appeal to the best tenants in the city because it makes the tenant-landlord relationship simpler.
Convenience matters to prospective tenants. By implementing a tenant portal, you'll find great tenants who stick around because of the convenience your tenant portal offers. Fewer vacancies lead directly to higher rental property profits.
Use a Rental Property Tenant Portal ASAP
It's easy to see why the best landlords in the country decide to implement a tenant portal. These tools provide a more efficient and effective way to approach the tenant-landlord relationship. Make your life easier and start using a tenant portal ASAP.
At LRM, our tenant portal is integral to providing excellent property management services. Contact us today to learn more about property management and how it can boost your Miami rental property investment.