Before the pandemic, you met with your tenants to show them around the property and sign the lease in-person. However, necessity breeds innovation. Today, there are much more seamless processes for renting over the internet.
Let’s explore the basics of online leasing and share some handy tips, ensuring your renters are satisfied with your service from start to finish.
What is Online Leasing?
Online leasing consists of everything you’d do in person, only in a virtual space. It’s time-saving, efficiency-boosting, and nowadays, much safer.
You can opt for virtual tours, too. With the right documentation and signature software, the agreements you enter with tenants will be legally binding and 100% valid.
You’re responsible for maintaining the clients’ privacy, too. Consider this aspect before advertising your online leasing services.
Other than that, you’ll handle:
- Questions – You’ll answer property-related questions over the phone, conference call, or chat.
- Negotiations – You’ll go over the lease together to ensure everything makes sense.
- Rules – If the apartment complex has any special rules about cosmetic changes, roommates, or noise, you’ll share them with tenants.
- Lease storing – You can use digital or physical storage.
In the end, you might even find the online alternative preferable for your future business operations.
Take note of these tips while you’re dealing with tenants online.
Learning about potential renters early on can prevent many issues from coming up later.
Check their rental history and finances as soon as you receive the application. That way, you’ll only accept prospective clients that meet your standards. Plus, you’ll seem more legitimate to people serious about the property.
The law prohibits housing discrimination. You should be aware of these rules and show your adherence. State the regulations you abide by on your website and make a concise list of criteria your tenants have to meet.
Doing so helps you avoid legal issues down the line and demonstrates reliability.
Although you’ll learn a lot about your tenants, avoid freely sharing their information.
For example, schools or workplaces might call you to confirm the address. Make sure to discuss distributing data with your renters, make privacy a policy, advertise, and follow it.
Both online and in person, you want to treat your tenants with respect. Make yourself look presentable, get a business phone line, and discuss all terms firmly but politely.
Finally, make your property and services attractive to tenants. For instance, this interesting link to Denver areas shows how, with simple changes, you can improve prospective clients’ user experience.
Moreover, make your website easy to use, stage the homes before showing them, and open several communication lines. Ease is everything in today’s marketing.
Once you set transparent policies, you’ll build high-quality relationships with clients. However, there are also things to avoid in order to maintain them.
You should always be cordial, but never strive to become buddies with your tenants.
Even if you particularly like a couple that just moved in, don’t overstep your boundaries and start building friendships. Keep yourself at a respectful distance to avoid favoritism and people asking for favors.
Chasing Rent Checks
If you’ve screened your tenants thoroughly, you already know whether they can afford the rent on time.
After that, set up a rent collection system that’s flexible enough to meet various needs, and have all tenants use it. Chasing checks is stressful and unproductive.
You’re the landlord, so you’re the one in charge of keeping the building livable and safe. Learn about your responsibilities and make it easy for tenants to contact you.
However, also consider your skills. Call experts if you’re unsure you can fix something yourself to avoid unnecessary frustration.
Finally, these tips help you as much as the renters. Establishing a responsible, wholesome group of tenants who are easy to collaborate with and don’t cause headaches every week is a desirable outcome.
It can be challenging to check all the red flags while leasing online, but it’ll become a breeze with a bit of practice. Follow the advice regarding screening, policies, and relationships, and you’ll have a budding community in no time.