Let’s face it, tenants that are satisfied with your property and pay on-time are the make-and-break of business. Happy tenants mean happy owners, and (ultimately) good cash flow. That’s why we’ve seen the surge of property management companies that are harnessing the power of property management software over the last decade. For companies that want to improve tenant relations, a tenant portal is mission-critical for business success.
That's why we are thrilled to roll out our new and improved myVista Tenant Portal (coming soon!), designed to revolutionize tenant relations and streamline property management processes.
Now, let’s unpack how a modern, comprehensive tenant portal can propel your property management business to new heights.
Improved Communication for Seamless Interactions
On a day-to-day basis, a tenant portal makes interactions between your resident and you easier and more efficient.Tenants can log on anytime to make a maintenance request or other enquiry, and with the myVista mobile app, they can do it on-the-go from their iPhone or Android device. Property managers can even automate an acknowledgement to the request to save time. Even better, it gives you a central location where both you and your tenant can see the communication trail.
Building a Strong Community
Everyone wants to feel like they are part of a community. Savvy property professionals leverage a tenant portal to send out welcome packages, announcements, newsletters and holiday greetings directly to residents’ mobile devices. You can even send out targeted messages, either grouped by residents' buildings or as individual messages, to further build a sense of community and personal connection. Staying in touch with residents by sharing good news stories is an exceptional strategy for fostering stronger bonds with the property.
Rent Payments Are Faster and Easier
Rent collection needs to be easy-breezy for both you and your tenants. A tenant portal gives your renters the options and convenience they want, and allows you to collect and track rent payments. Your residents can view the rent amount owed and due date, and pay directly online or via the app on their phone with electronic funds transfers, debit, Visa and MasterCard. Whether they choose one-time payments or automated monthly withdrawals, you no longer have to deal with late, lost or bounced cheques.
Pro Tip: Your property management system can also automatically apply any late fees, which help avert future late rent payments. You can also send payment reminders ahead of time and escalate collection notes when payment is late.
Tenant Portals Simplify Maintenance
Paper-based maintenance requests belong in the Jurassic era of property management. They get lost, left on desks and often result in delays and repair errors. With a mobile-friendly tenant portal, your resident can easily request for maintenance whenever it’s convenient for them, and without having to call the office or fill out paperwork. The tenant can even snap a picture of the issue and upload it to show where the work needs to be done, helping repair crews to be prepared ahead of time for the job. Imagine all the labour costs saved when repair crews no longer have to go up and down the building just to assess an issue, only to discover they lack the proper tools to fix it. And, both parties can log in to see the status of the repair, so everyone is on the same page.
A recent report showed that for companies who do not use digital signatures, half or more of their electronic document workflows are interrupted by the need for physical sign-offs. And, for 23% of those organizations the result was in a week or more of process delay on average. Property managers only need to send the lease renewal to the tenant via the web portal for hassle-free digital signing and –voilà! – it’s done. With a web portal or mobile app, the leasing agreement can be completed at the tip of the fingers, saving you time and offering your resident a more streamlined experience.
How Property Vista Helps
Whether it’s helping you to keep in-touch with residents on a daily basis, or coordinating maintenance, our property management software, including the myVista Tenant Portal and Tenant App helps property professionals succeed by giving them the tools to run and scale their business and keep tenants happy. Request a demo here, or use our ROI calculator to see how you can benefit.