A tenant calls you to ask about the issue they raised with the tap. You remember talking about it, and you wrote it down somewhere.
On email? The notes app on your phone? Did you add it to your calendar?
There's an easier way to manage your property. An online portal becomes a must-have asset as you grow your real estate portfolio in Hillsborough, NC. Here are some of the benefits of switching to a tenant portal.
It Improves Communication
Communication is the foundation of any effective relationship with tenants. Often, minor problems get resolved faster when both sides know and talk through an issue, which is why an online portal can help.
It means you are both on the same page, helping to keep that conversation going. If a payment is late or something in the property breaks, adding it to the portal makes it easy to see and discuss.
It Helps You Automate Admin Tasks
Tenant management involves lots of general admin, like checking each month that your tenant has paid their rent. It's worth automating as much as possible; online portals can help.
With an online portal, tenants can pay rent online. Landlords can track current or upcoming rent payments and run valuable reports like checking late payment patterns.
You Can Keep Track of Maintenance Requests
Tracking rental property maintenance requests can become demanding. Tracking it over multiple properties can create a significant admin overhead. It's easy to become disorganized if you don't have a system.
With property management software, you have a process for recording, monitoring, and actioning all maintenance requests. It will help you keep up with the requests and notify tenants about when you'll fix their reported issues.
You Can Keep All Your Paperwork in One Place
You'll accumulate lots of documentation when managing your properties. This will include lease agreements, warranties, inspections, and other essential items.
Storing all these in one place is handy. It means that they're easy to find, and it's easy to delegate any property management tasks to someone else in the future. It can also provide more transparency if there is documentation that you share with the tenant, like the lease agreement.
It Helps You With Financial Management
Many tenant portals will give you helpful information about your property finances. You can track incoming money like rent, and you can also track your expenses on things like maintenance work. Having this in one place means it's easy to run reports.
You have a real-time snapshot of the financial health of your property. That reporting will also help you find ways of improving your profitability.
Keep Your Property Management Organized With a Tenant Portal
Don't let admin and paperwork overwhelm you when managing your property. By opting for a tenant portal, you'll have everything in one place, making life easier for you and your tenant.
Another way to streamline real estate work is to hire a property manager. At Gates Management and Realty in Hillsborough, NC, our experienced team can keep your tenants happy and your property pristine. Find out more about our services here.