Technology has a way of making us wonder: how did we ever manage before we had this? That might be GPS for your car, your smartphone, or keeping in touch with friends on social media.
It's true for the world of real estate, too. Any landlord or property manager currently using an online tenant portal will find themselves asking the same question: how on earth did I manage before I had this?
If you have yet to discover the benefits of online portals in Frisco, TX, read on to learn more.
1. A Tenant Portal Is an Easier Way of Communicating
There's lots of two-way communication between a real estate investor and tenants. So, keeping all that conversation in one place makes sense as it's more streamlined.
It's easy to refer back to old chats. If you need the assistance of someone else - like a property manager - they'll get a complete history of all discussions.
Tenants prefer it too because they can see at a glance all their issues and the current status of each one.
2. It's a More Convenient Payment Method
When you simplify rent payments, it makes tracking more straightforward and more convenient for tenants.
That ease of paying also means you are less likely to have problems such as late payment because the tenant forgot to make a bank transfer.
A portal means tenants can pay online wherever they are and also make payments for other costs like fees.
And it's all visible on one handy dashboard, making it easier for them to track their expenses and easier for you to track your income.
3. It Makes Maintenance Planning Easier
Each time your tenant makes a maintenance request, you can use the portal to keep track of this. Tenants will report issues directly on the portal, allowing you to see everything in one place.
That makes maintenance work more efficient. For example, if your tenant reports several low-priority issues, you could schedule a contractor to complete them in one visit.
Keeping track of maintenance issues on a portal also prevents things from escalating. You can spot an unresolved issue rather than forget about something that later snowballs into a more expensive repair job.
4. It's Easier to Store and Access Documents
You'll accumulate many documents when managing tenants and properties. That includes lease agreements and invoices for maintenance work. It makes sense to keep all this information in one place.
It means you can access it quickly and stay organized, for example, if you need to provide proof of insurance.
5. It Helps You Maintain Tenants
Tenants want to enjoy their time at your property without feeling overwhelmed by admin. By providing a central portal, you're giving them a convenience they may not find elsewhere.
It will help secure long-term tenants and improve retention rates, reducing vacant periods.
A More Efficient Way of Managing Your Properties
As a landlord, you want to avoid daily demands from becoming overwhelmed with paperwork, phone calls, and emails. It's better to keep everything in one place via a tenant portal.
It's why we use tenant portals at PMI North Texas. It's just one of the ways we excel at property management. To learn how we could help manage your property in Texas, visit our services page.
