5 Benefits of Online Rental Agreements for Landlords

This is a guest post from Rentberry, a home rental service and price negotiation platform that unites tenants and landlords. Rentberry provides their users with an integrated electronic signing experience via the Dropbox Sign API. Enjoy!

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As many aspects of our life go digital, it comes as no surprise that many companies are ditching traditional paperwork for online solutions. And although it is too soon to celebrate the era of paperless offices, we are certainly closer than ever. 

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If you are in the rental industry and looking for something big to boost your career, online rental agreements may be exactly what you need.

Since the trend is rapidly gaining traction, its implementation will give you a significant competitive advantage. Going online with your rental-related paperwork won’t cost you much, and you’ll sure be rewarded with benefits discussed below. 

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Let’s look at five major advantages of making the leap:

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1. It Saves You Time and Money

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If time and money are among your biggest concerns, then signing rental agreements online is exactly what you need.

Online agreements are cheaper because you don’t spend dollars on printed copies and travel expenses. Not to mention you save time! 

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Signing lease online is a great chance to skip the cumbersome process of printing, signing, scanning, emailing, and storing. Since digital signing doesn’t require several personal meetings and print-outs, the entire process gets quicker for everyone involved. There is no need to negotiate over schedule since both parties can sign the lease at their own time.

Rental business, just like any other, is all about money. So it goes against common sense to ignore cost-efficient and time-saving solutions when they are so easy to implement. 

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Any way you slice it, online lease makes things easier and faster for both parties.

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2. Online Documents Are Green

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Going green gives your business a major competitive advantage. According to recent studies, 72 percent of people would choose an eco-friendly company even if it charges slightly more. Not only will online agreements help you save trees, but they will also attract more eco-conscious tenants.

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3. You Can Customize Agreements Easily

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Nobody says you should write your rental agreement from scratch, but it also doesn’t mean you should use a downloaded copy from the Internet. In nearly all cases, a standard rental agreement requires customization.

When preparing a lease copy you need to take into account your specific rental requirements as well as federal, state, and local laws. 

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If you manage more than one property (and especially if they are located in different states), you are likely to use a sample and add customized clauses when there is a need.

It goes without saying that making revisions to a digital copy is way easier than having to type out a brand new copy each time. 

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Customization takes time and effort, but things get much easier when you do this on your desktop. No need for dozens of printouts and strikethroughs.

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4. It Helps You Get That Millennial Tenant

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Millennials are officially America's largest generation. Given that most of the people of this generation are both tech-savvy and eco-conscious, paperless documentation becomes an absolute must.

Being raised with gadgets in both hands, millennials are always looking for the most handy and time-efficient solution. And if you’re not ready to offer one, you lose potential clients. Plenty of them. 

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If you are able to offer an innovative rental experience, millennial applicants are likely to choose you over those old school landlords who still rely on paper.

Chances are good that you could get twice as many prospects by making that one simple change – ditching paperwork.

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5. Easily Renewable and Accessible 24/7

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There are two problems with traditional paper documents: they’re easy to lose and even easier to damage. Given the importance of rental agreements, both problems are a big deal. However, if you choose online rental agreements, your documents will be securely stored online.

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Rental platforms like Rentalutions and Rentberry offer safe document storage as a part of their service. Apart from being safe, online rental agreements are easy to access. When your lease is digital you can review it from any place at any time.

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So What Are You Waiting For?

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Online documents are already well-established in the world, but the trend is still on the rise. There is no doubt that one day the entire business world will go paperless. And hopefully you won’t be the last person to join the trend.

Successful landlords think ten steps ahead, so grab your chance to join the rank of leaders! 

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About the Author:

A writer by calling, Oksana Tunikova creates remarkable content for Rentberry. Being well-versed in real estate, she writes for the company’s blog and outside media platforms related to the industry.