Five Reasons to Digitize Your Rental Agreements

Five Reasons to Digitize Your Rental Agreements

As digital takes over more and more of our lives, it’s no wonder that many businesses are abandoning conventional paperwork in favor of online solutions. And, while it’s too early to declare the dawn of paperless offices, we’re closer than ever to seeing a complete turnaround.

Advantages of Online Rental Agreements 

If you work in the rental industry and want to take your career to the next level, digital rental agreements are worth investigating with the help of a savvy real estate law firm like Curry Law Firm. Furthermore, because the trend is quickly gaining popularity, implementing it will provide you with a major competitive advantage.

Let’s take a look at a few of the advantages of online rental agreements.

1. Rent Properties More Quickly

If you’re an experienced real estate agent, you know how tiresome and time-consuming the business of renting and leasing property can be. You’ll need to fax and print documents, verify them, scan them, and return them. And if you’re sending snail mail to a prospect without access to a computer or the internet, you’ll have to wait a lot longer.

Going digital enables you to instantly send the prospective client to your portal or website to sign up.  Using online rental agreements also allows you to email documents to a prospect for them to review and sign digitally. It’ll then notify you via email once it’s finished.

2. Ensure  Maximum Occupancy

A real estate agent’s worst adversary is a high vacancy rate. It’s like walking into a store that’s completely devoid of merchandise. You would really like to keep your rental homes occupied as long as possible so that you can keep collecting rent.

Losing a tenant is equally devastating. It will force you to spend a lot of money on advertisements every time someone moves out. And as you might be aware, replacing tenants can be quite pricey. You can’t, of course, hold your renters captive. Therefore, when the going gets tough, you’ll want to market your openings on your own terms.

Going digital will help you automate the contract-signing procedure and swiftly analyze and approve applications without putting in a lot of effort. Post an ad, direct people to your online lease documents, and then collect the signed documents. It’s a great strategy to get your unoccupied properties filled quickly.

3. Reduce the Risk of Human Error

Automating business processes reduces the risk of human error. Once you go digital, you will not have to stress about this because you won’t have to continuously prepare documents anymore. Everything is prepared once, then plugged into your work process. Scanned lease agreements can be saved in a database with easy access for you and your tenants at any time.

On the leaseholder’s side, a digitized rental agreement ensures they don’t misspell initials or misspell signatures. Additionally, the platform will notify them so no areas go unsigned.

4. Enhance Digital Security

Unauthorized individuals may view or steal your office documents. This puts your company and applicants’ data in jeopardy. Using digitized rental agreements makes such unauthorized use much more difficult. Because for one, you must have the proper credentials to enter.

Secondly, only those you authorize can access it, such as the potential clients in receipt of your rental agreements. Enhanced digital security means less chance of a breach, which can save you money and reputation in the long run.

5. Online Documents Are Eco-Friendly

Going digital gives you a huge competitive advantage in the real estate market. Most people would rather work with an eco-friendly organization even if it will cost them a little more. Additionally, online lease agreements not only save trees but also attract eco-friendly tenants.

Go Digital

The convenience of digitizing your rental agreements is that it is very simple to set up. Thanks to the advancement of technology. Getting systems up and running doesn’t have to be a lengthy process. Signing up on the portal and then uploading your data is literally all it takes. That being said, embrace technology and go digital!