So you've just started your investment property journey and you need an easy way to keep track of everything. What do you do?
Consider using an owner portal. This simple tool is the perfect way to coordinate all aspects of property management. Read on to learn about the numerous benefits of an owner portal.
A Secure Payment Method
Although the digital payment space is better than ever, there are still security concerns when it comes to transferring large amounts of money.
Your tenants may not feel comfortable sending you thousands of dollars through apps like CashApp or Venmo. Writing a check these days is also not a primary method of payment.
Instead, tenants can log in to a portal to send their payments safely and securely. You can also have a record of their payments for future reference.
Respond to Tenant Needs
If your tenant needs maintenance performed on their rental, they can log into a portal and submit a maintenance request. This will allow you to view the request and respond promptly.
Tenant messages can get lost if you use another method like text or email. With a dedicated owner portal, you can quickly respond to these types of requests and update the tenant as needed.
Access Important Paperwork
Have you ever found yourself searching for a document for a tenant? Some of the essential paperwork for your rental property includes lease agreements, pet deposits, rent records, and property maintenance receipts.
You can also keep your paperwork organized in a digital space. No more ruffling through file cabinets or stacks of documents to find the one that you need.
Evaluate Your Property Performance
When you invest in rental property, you need to ensure you are reaping the rewards of your investment. Your owner portal can help you see how much money the property brings in versus what you pay every month in mortgage or operational expenses.
For example, if you continue losing money, you should consider raising the rent in your next lease agreement or doing more maintenance to cut down on costly repairs.
Manage Multiple Properties
As your property portfolio expands, your owner portal will be a great way to look at your properties at a glance. Comparing rental income, tenants, and lease agreements is an easy way to see where you can invest more money.
You can also work with a property management company to ensure you meet the needs of your tenants. They can have access to the owner portal and take care of tasks for you. Paying a company can be worth it in the long run if it allows you to take on more properties.
So Many Benefits of an Owner Portal
An owner portal is the perfect solution for all your investment property needs. With these perks, you can take care of business for any rental property.
Ready to start investing in a property portfolio in the Colorado Springs, Colorado area? PMI Pikes Peak is here to help.
With over 20 years of property management experience, no one is more qualified to assist you. Contact us today to learn more.
