In the U.S., renters spend about $485 billion every year in rent. Yet there are needs and wants that many property managers are not fulfilling. If you want to be a better property manager, consider getting a tenant portal.
Not only does this benefit your tenants, but it can also help you. Keep reading to learn about the future of rent collection in Saratoga Springs.
What Is a Tenant Portal?
If you're a property manager in the Saratoga Springs area, you already know that times are changing. The era of paper and pen has gone out the door. Modern tenants are seeking accessibility and speed.
This is where online tenant portals come into play. This software helps with lease signing, maintenance requests, and rent collection.
However, there's another side of tenant portals that most property managers don't consider. And that's the managerial side.
With an online tenant portal, you can receive bank transfers faster. The application phase is also becoming easier since this software can speed up background checks and other qualifiers.
Lease Signing Process
Lease signing can be a stressful time for you and your potential tenants. That is because this phase asks for a lot of information from the tenant. For example, their DOB, social security, and rental history.
Luckily, there are now services in the Saratoga Springs area that help expedite the tenant screening process. Companies like Veno Properties are now providing fast and accurate vetting for tenants.
Streamlining Rent Payments
Rent collection can be an issue for tenants and property managers. Having issues with payments every month is not ideal. These issues can damage your overall assets by delaying your income.
Luckily, tenant portals streamline the rent collection process. With a few easy steps, your tenants can log into a secure portal and pay their rent in under a minute.
On your end, these payments process a lot faster. In the case of a declined payment, you're alerted immediately so you can take swift action.
Maintenance Requests with a Tenant Portal
In New York, a property manager is legally obligated to keep the property at a livable standard. Luckily, a tenant portal allows renters to log in and request maintenance.
From there, your team is quickly notified so they can take the necessary steps to fix the issue. This process not only benefits modern tenants, but it can save you in the case of a lawsuit.
But how? For starters, all maintenance requests get logged into the portal system. Therefore, if a tenant seeks compensation for a faulty unit, you'll have a record of all the completed work.
This feature adds a layer of safety for you and your tenants. Not to mention, companies like Veno Properties are also working with vendors directly. This way, maintenance requests can be resolved with the utmost respect and care.
Best Investments for Investors
As a property investor, you're already well-versed in knowing what a good investment is. However, we assure you that Veno Properties is one of them! We offer great rates for tenant portals to ease your job and attract modern tenants.
Check out our website and look through the countless testimonials of happy clients. They all rave about their hassle-free experience with us, so give us a call today. We service Saratoga Springs and the surrounding areas.