A tenant portal is an online platform that allows owners and tenants to access property information and communicate via the web with their property management company.
The portal allows users to submit pertinent data to property managers, change account information, and pay bills, among other things. We’ll outline how a self-service portal can help you run a more efficient property management business throughout this article.
Features of the Online Tenant Portal
The portal provides a consolidated platform for each rental’s information and documents. Both the renter and the landlord may see:
- Payments
- Invoices
- Leases
- Other crucial documents
Tenants can communicate directly with property managers about issues, inquiries, and requests using the site. Tenants will be happier with their rental position due to the speed of digital communication.
Benefits of an Online Tenant Portal
The following are ways the technology of a self-service tool adds convenience to tenants, owners, and property managers.
A Time Saver
A tenant portal reduces the amount of human labor significantly, and integrating a payment method within the site can save a great deal of time. A portal allows your tenants to update their information as needed, so you can be sure to stay in touch with them without having to update anything manually.
Having a tenant portal will also reduce phone calls since your tenants will be able to answer their questions on the portal. Instead of handling recurring client inquiries via phone or email, property managers can concentrate on other daily tasks. Maintenance requests are addressed more effectively when information is updated through the portal.
Transparency
A property manager with a keen eye for details knows how essential it is to keep tenants informed about the situation with their property. Having a tenant portal will allow you to submit documents related to property regulations, leasing agreements, maintenance, and more.
Through the portal, you can provide tenants with information about their payments and allow them to view their financial statements. They can even use the gateway to make payments. In addition, tenants will view work orders related to the property.
Accounts Are Accessible From Anywhere
With an online tenant portal program, tenants can access their account information from any location.
Save Paper and Streamline Your Property Management
Owning a property management firm requires considerable time and money to organize paperwork. Documents such as receipts, invoices, statements, and other papers fall into this category. Printing and production of these documents cost money.
Moving to tenant portals can assist you in moving to a paperless environment. These platforms allow you to organize papers in a much more accessible and user-friendly way for your organization and your clients.
Simple To Set Up and Use
Tenant portals are relatively fast to deploy due to the simplicity and ease of use of web portals. Connecting your database to a new server instance is all that needs to be done. You won’t find many buttons or features in the tenant portal. The functionality is simple and straightforward.
Boost Your Net Operating Income (NOI)
As we noted before, a well-maintained portal reduces manual labor for managers. If you had fewer incoming calls, how much time would you save? You can also save money by moving all paperwork, announcements, and updates online? A tenant portal property management can drastically reduce operating costs while increasing the property’s ROI or net operating income (NOI).
An Attractive Strategy for Tenants
A sleek and fully functional tenant portal can help you attract new tenants. People want to know that they can easily obtain answers to their problems and receive maintenance by visiting an online portal.
In addition, it shows them that you are a serious property owner who has invested in the upkeep and maintenance of your property. Tenants who consistently receive value from you are more likely to renew their leases year after year.
Easily Accessible at All Times
Tenant portals are available 24 hours a day, seven days a week. At any convenient time for you or your tenants, you can request or view any information you need.
Using a tenant portal can make managing your property more efficient and manageable. With UnitConnect, we will provide you with all the commercial property resources you need to maximize the potential of your commercial real estate investment. Our contemporary, easy-to-use tool puts you one step ahead of your competitors.
