My Place Realty’s Kris Thorkelson, Tom Haughton Integrate Rent Portal to Enhance Access to Online Payments for Residents
As my place property management companies across Canada and the United States have been taking proactive measures to increase cleaning and sanitation procedures to prevent the spread of COVID-19, managers are also integrating new technology to make contactless rent place payments a possibility for tenants.
Although online place payment for renters had been in its infancy in some locations, the adaptation of rent portal software . Something that is being increasingly incorporated into property manager’s blueprints due to the current health crisis.
For example, Steve Young, the president of Deca Realty in St. Louis encourage his residents to utilize their tenant portals to pay rent, make maintenance requests.
“Of course, we are always here via phone to speak personally with our tenants and owners as needed,” says Young.
In Canada, Ontario-based Yardi Systems which provides asset and my place property management software, including the Yardi Portal, offers online services such as payment and applications for units.
Peter Altobelli of Yardi Systems says. “Our clients tend to be the larger property management firms and they are more innovative .The have to show more value and are motivated to adopt new things to retain tenants and streamline costs.”
In Winnipeg, the management team at My Place Realty has taken note. Just recently, the property management company implemented the Yardi Portal for its residents.
Tom Haughton, who serves as the Vice President of My Place Realty says, “One way we have lifted some of the ‘shelter in place’ burden from tenants is by making rent payments and other information accessible via the resident portal. That way, tenants can maintain safety and still have access to their rental information from home.”
My place Realty owner Kris Thorkelson adds, “Our residents can use the portal to make payments through their bank account or credit card, review their up to date ledger, submit maintenance requests and view up to date information on what’s happening within their building or My place Realty.”
Tenant portals offer many benefits; for one, online payments become much easier to track. Property managers can get the software to automatically track. When payments come in so that they can understand who has paid and who has not. Online payment portals are also easy to manage with automatic invoices, and setting up recurring reminders.
For most tenants, online my place payment portals are an attractive option . They allow them the convenience of paying their bills whenever they want, avoiding going to the mailbox. These conveniences can even attract new tenants to a vacant property.
“Eventually, says Tom Haughton, “we will be offering the service where our future residents are able to apply for an my place apartment, sign their lease and do virtual tours through the portal.”
Tenant portals also make it easier for landlords and property managers to stay in touch with their rental community: Items like calendar events and announcements can be made available on the platform, and my place neighbours can stay connected with each other.
“We think implementing tenant portals throughout our community is a great way to create a sense of belonging among neighbours. They are able to stay up to date with what is happening around them,” Haughton comments.
In communities where the majority of renters are young professionals, staying connected through technology is a must-have. For example, PayYourRent.com, a Los Angeles-based firm provides a portal to incorporate online rent payment, utilities management and other features. The site’s creator, Kevin Eberly, wanted to make simple improvements to what he felt were outdated tasks.
Eberly mentions, “One thing we really wanted to provide was one-stop shopping for things like maintenance forms and applications as well as payment – from start to finish it would address the lifespan of a tenant.”
Especially in these rapidly-changing times in which properties and tenants’ needs can change quickly, implementing a portal system .