Cloud-based property management has been a game changer for landlords.
Designed to save you time and money, cloud-based property management app provides you with a multitude of helpful tools to facilitate every aspect of your business. Not only that, but it also makes things easier for your tenants.
Here are five reasons you should be using cloud-based property management today:
- Collect Rent Online
Collecting rent the old-fashioned way can be a pain. Aligning schedules to receive cash or checks, making additional trips to the bank for deposits, risking the misplacement of paper money— this whole process can be a hassle.
Online rent collection makes everything so much easier. First, neither you nor your tenants have to leave the house; everything is done from a phone or computer. Second, your tenants have the flexibility to pay via credit card, debit card, or ACH payment. They can also enroll in autopay, which means they won’t have to remember to make the rent payment every month. While this certainly makes things easier on them, it also helps you because you’ll be less likely to receive late or incomplete payments.
- Sign and Manage Leases Digitally
Manual paperwork can be one of the most time-consuming parts of the rental business, usually taking several days or even weeks. With property management software, you can do it all digitally, which saves you tons of time.
Good software will give you the ability to create reusable lease templates where you can automatically duplicate pieces of information and insert them into their appropriate spots. As soon as the lease is drafted and sent to your tenants in-platform, they can sign it electronically. Within minutes, your lease-signing process is complete, and you never have to deal with printing paper copies. Property management software allows you and your tenants to pull up your leases digitally whenever you need to.
- Tenant Screening
In order to avoid bad tenants, you need to conduct in-depth tenant screening. Finding great tenants to fill your units will save you time and money in the long run, while also reducing the likelihood of evictions.
Cloud-based property management will provide you with the tools you need for thorough tenant screening. These include credit reports, eviction history checks, and criminal record checks. Good tenant screening also requires customized information from your tenants such as pay stubs or information on pets. Property management software allows you to easily collect this information, which will help you decide whether an applicant meets your standards.
- Tenant Communication
Good communication makes your tenants happy, and happy tenants are more likely to rent with you long-term.
Cloud-based property management allows you to send automated reminders when rent payment is due, when a maintenance ticket has been resolved, or when a lease is about to expire. It also allows you to automate late fees, which makes them instantly enforceable without the need to track down your tenants.
You and your tenants can also chat with each other about relevant information in an in-app messenger. This gives you a continuous stream of communication without the need to share personal phone numbers. You should consider property management software with a mobile app, so that you can communicate quickly on the move.
- Maintenance Management
All landlords are going to have to deal with maintenance requests. The question is: What’s the easiest and most efficient way to handle them?
Property management software makes the maintenance process as simple as possible for everyone. If a tenant has a maintenance request, they can send a maintenance ticket in-platform with a detailed description and photos of the issue. This allows you to quickly assess the request and get the right specialist (plumber, electrician, etc.) over as soon as possible. If you already have maintenance personnel on your staff, you can add them to the platform and give them the access they need to perform their role.
Conclusion
Cloud-based software is designed specifically for landlords to facilitate all your day-to-day responsibilities. All the features discussed in this article will save you so much time and money on tasks that would otherwise have to be performed manually or in person.