3 Benefits of a Tenant Portal for Renters and Landlords

3 Benefits of a Tenant Portal for Renters and Landlords

Picture this: You need to collect rent from your tenants or update them on a maintenance request, but they're not responding to your text messages, phone calls, or emails. What do you do next?

A tenant portal may be the solution to your needs. This online management system is a great way to connect with your tenants and have everything you need in one place.

So, what are some of the advantages of using a digital portal? Read on to learn more.

1. Tenant Communication

If you are still using paper for tenant communication, you may be behind on the times. Electronic communication is much easier to use for both tenants and landlords.

Even if you are on-site with your investment property, it can be hard to connect with your tenants. You may have different schedules and you miss them when you try to visit in person.

A tenant portal is the perfect communication tool for everything from updating maintenance requests to sending lease renewal forms.

In addition, many tenant portals are easily accessible from any device, including cell phones and tablets. You and your tenants can communicate on the go, so you never have to worry about a missed message.

2. Streamlined Payments

Money is a huge factor in your tenant relationship, so you want to ensure it is simple to make and receive payments. A tenant portal can simplify the process for everyone involved.

It can be hard to keep track of payments, especially if you have multiple tenants. There are so many options available, like Venmo, direct deposit, and physical methods like cash or checks. You may worry about payments getting lost.

With a tenant portal, it is easy to have a record of all payments. You can even request payments from your tenants, such as HOA dues, security deposits, or repair charges.

3. Safety and Security

Security is paramount for property management because there is quite a bit of sensitive information. Forms like lease renewals and background checks involve Social Security numbers and bank account data.

A tenant portal is often more secure and has multiple factors that keep your information safe. For an extra layer of protection, enable two-factor authentication. Tenants will have to use a code or verification email to access their accounts.

In addition, if you need to evict a tenant, you have all of the records you need in one place. For legal purposes, you can show your lease agreement that was potentially violated or a record of missed rent payments.

If you want to run background checks, you will have access to all of the information you need in a digital portal. This makes it much easier to cross-check and verify the data.

Consider a Tenant Portal Today

Do you need help with property management in Indianapolis? PMI Midwest is here to assist you with all of your questions and concerns.

Contact PMI Midwest today to get started with setting up a tenant portal for your properties. We offer all types of services, from tenant screening to rental analysis.