Technology improvements have touched every industry and property management is no exception. With online property management system, you have tools at your fingertips that make your job easier and faster. The good news is, so do your prospective tenants. That’s why it is important to have an online rental application.
If all your rental applications are online, you have a built in organization system. No more sorting and filing, saving you time if you do it yourself and money if you have staff that do that for you. You can sort for applications by date, name and property applied for. The system will catalog all applications for you as an easy to use document management tool. You can track status, make notes and approve or deny through the system. Most importantly, you can look at them from anywhere using your compute or your smartphone.
Get More Tenant Applications
The Millennials make up the majority of renters these days. They look to rent for a period of time before owning a home so they are a prime target audience. One of their defining characteristics is how connected they are. They live online. It is the first place they go when they want something. With an online property rental application, you are more visible. Ensure it is easy to fill out and you will have more applications submitted than ever before. More property rental applications mean less chance of an extended vacancy and your pick of prospective tenants.
Social Media Like and Share
The other great thing about online property rental applications is that they bring eyes to your website. As prospective tenants approve of what they see, they will use the social media buttons on your site to like a property, share information or post a tweet about open houses, vacancy alerts and anything else easy to share with their friends and followers. It is a great way to get extra advertising and tap into new markets.
Managed Screening Process
Nothing is worse than feeling like you have to rent to a substandard tenant just to fill a vacancy. With more property rental applications coming in, you have the chance to evaluate many prospective tenants, ensuring you will find a reliable addition to your rental community. When you do select a tenant, with the click of a button, you can use the online property rental application to start the background screening, streamline yet another process in your property management business.
Every state/province or region has rules about what should be on rental applications, how long to keep them on file and other leasing regulations. You can be sure you are staying in compliance by using a system set up to meet all the requirements. You can also find information easily in the event of an audit or inquiry.
Online property rental applications have many benefits. Paper applications are becoming a thing of the past. By embracing technology, you can move your business forward.