PROPERTY MANAGEMENT BLOG

Reducing Risks & Strengthening Your Business with Tenant Portals

System - Friday, May 8, 2020

It's 2020 and at times it feels like everything has been turned upside down. Our favorite restaurants and bars are closed, sports are postponed, and even Amazon struggles to make good on its lightning-fast Prime deliveries. In a time where we're unsure exactly what is safe and what is essential, our businesses are being asked to play their part in reducing risks day-to-day. While many methods of doing this hurt your business fundamentals with increased costs, there's one that actually strengthens business fundamentals for business owners – the tenant portal.

Despite the mystical name, at the core a tenant portal is simply an online way of connecting residents to resources while giving management visibility and automated reporting. Properly implemented, such a tool can reduce or even eliminate many of your business struggles entirely. 

Imagine not taking a stack of checks to the bank each month. Imagine renters whose payments are made automatically month over month without action required from them. Imagine being able to triage emergencies and building maintenance remotely. Now imagine the nightmare of losing your paper trail because it was kept in jumbled piles of papers instead of neatly organized and timestamped digitally. This tool solution to all of these problems while also sparing your residents from having to meet in person.

A tenant portal allows for maintenance requests, rent payment, 24-hour emergency services, paperless leases and so much more. With your Seattle property wired for high-speed internet and every renter connected on their phones, tablets, and computers, interfacing online was already a no-brainer. Now while physical distancing is a must-do, each task moved online is additional risk reduced.

The reality in 2020 is that many of your renters don't even own a checkbook, let alone know how to write one. Running to the bank to get a cashier's check is a hassle and residents don't want to do hand-offs right now anyway. Online rent payment allows them to do so from the comfort of their home and even better for property owners, set recurring payments. Who wouldn't love having a digital dropbox, more secure than a physical one and open 24/7?

For all of these benefits and more, Seattle property owners are waking up to the fact that they lose efficiency and value not migrating routine tasks online. Spare everyone exposure risk and keep your properties generating revenue with a fully-featured portal.

Online tenant portals empower your residents, reduce headaches, and mitigates risks for you. To learn about these powerful tools and other ways to protect your property investments get in touch with Guide Property Services today.