It only takes a few things to go wrong in property management to make an organized setup spiral into chaos.
A forgotten phone call about an HVAC repair, a tenant on vacation who forgot to pay their rent, or that pesky lease agreement that keeps disappearing down the back of your office desk.
That's why many landlords have now switched to a tenant portal. Here are some of the benefits for property owners and renters in Boston, Massachusetts.
It's Simplifies Rent Collection
One of any landlord's most important administrative duties is collecting rent on time each month. An online portal makes this easier. It's automated, and you can send out notifications without tracking things manually.
It's also easier for renters. They can make rent payments at any time or place, even when they are away on vacation. Plus, they can track past payments.
You Can Use It to Manage Paperwork
Landlords and tenants will accumulate essential documents, like lease agreements and maintenance reports. It makes sense to keep these in one place and digitize them for safekeeping and easy access.
An online portal can help you with this. It's secure, and you can access it from anywhere. Hence, you never have to worry about rummaging through your office for signed paperwork.
It's a Better Way to Communicate
Good communication between tenants and landlords can help resolve problems faster and avoid things escalating, improving tenant retention.
Moving to an online portal lets you have all communications in one place. It avoids missing important messages and makes referring back to earlier conversations easy.
You don't have to search through text messages, emails, or notes from phone calls.
It Helps Track Maintenance Work
Rental properties have ongoing maintenance demands. You need to track work and prioritize it.
An online portal means tenants can report maintenance issues as soon as they see them, making it easier for landlords to schedule the work.
The landlord can secure a date suitable for the tenant and contractor and keep all that information in one place. It also means landlords can track important work, like safety inspections, before it becomes overdue.
It's More Secure
There is much information about a rental property you don't want to lose or get into the wrong hands. That includes financial transactions, contracts, inspections, and contact details.
An online portal gives you a password-protected place to store all this. It's safer than keeping that information scattered in different areas, and it means you and your tenant aren't at risk of identity theft.
It's Convenient
With an online portal, you can access the information wherever you have an internet connection.
You don't need to worry about missing something important when traveling or a tenant missing rent payments while on vacation. It also means you can address emergencies outside of standard working hours.
Is a Tenant Portal Right for You?
Investing in modern technology, such as a tenant portal, is a wise idea when managing properties. It will help you expand your property portfolio in Boston, Massachusetts, and tenants increasingly expect to see it.
PMI Bay State offers a full suite of property management services led by our experienced real estate team to make your rental management easier and more efficient. Learn more about the advantages here.
