Residential leases are fixed-term contracts that allow tenants to occupy a property in exchange for monthly rent. That standard definition seems simple enough but let’s face it — life isn’t so simple all of the time.
The reality is life changes for residents, which means their lease agreements need to change as well. These tenant requests require property managers to execute any number of time-consuming steps associated with lease modifications. Wouldn’t it be great if you sat down for work and your computer knew which steps to take and automatically took those steps for you? Well, we can’t read your mind (yet), but RentTango does just that.
With more than 20 years of experience in residential property management, the RentTango team expertly applies technology to streamline the leasing process. We know where bottlenecks can happen, and the steps needed to remove those bottlenecks from the leasing process. We use technology to help support you and automate much of the process for you– what we refer to as automated workflows. Simply instruct RentTango on the lease modification needed, and RentTango will perform a series of events in which you can participate and monitor.
So, how exactly can RentTango work for you? If you’re a residential property manager or landlord, consider the following:
Changing Roommates. Roommate changes – the bane of every property manager. There’s so much back-and-forth between tenants – who stays, who leaves, how to manage security deposits – each situation is unique. Would you people just stay in one place?!? Okay, that’s not possible. But, RentTango helps simplify these tangled webs by enabling you to initiate a Roommate Change function, which automatically provides you
with the required information and documentation, such as the notice to vacate document for the tenant leaving and an application invite for the new roommate. The system then creates a new group with the new roommate and generates a new lease (with all contingencies) for you to send. How much time did that save you? Seriously, you’ve got to see this.
Lease Extension. Oh, it happens all the time. Someone needs to stay in a unit beyond the expiration of their existing lease, which could be for a few days or even weeks. You need them to formally accept the extension to maintain a legally binding lease agreement. With RentTango, the lease extension rider is sent out, signed and saved with your resident record with a few clicks and no typing required. It’s happy hour, who’s buying?
Lease Riders. A rider can come in all sorts of flavors — a gym membership, parking space, storage, and more. While a rider does not affect the original terms of the lease contract, it can add new responsibilities to the landlord and the resident, which often, but not always, needs to be signed by the resident. Additional fees may be incurred as well. All of these variations are handled by setting up custom riders in the RentTango Contracts module. So, all you have to do is select the rider, send it to the tenant by text or email, and they simply sign it on their phone or desktop computer, and make payments if required. It’s so easy.
Transfers. So, you have a resident who doesn’t want to leave, but they need something different. Moving them to another apartment or property shouldn’t be tedious. Yet – it’s a blessing that seems to quickly fade when you realize all the administrative tasks that are involved. RentTango’s automated process does much of the legwork for you. Just pick the new property and the move-in dates and let the system do its thing. People get contacted, documents gets signed, and the status of both units are updated. It’s like leasing on autopilot.
What do all these leasing scenarios have in common? They all involve error-prone manual activities, endless typing, continuous paper pushing, lots of back-and-forth communication with tenants, perhaps multiple applications, and maybe even some training or retraining of staff. Ultimately, they result in slow response times that take your eye off seizing new leasing opportunities or fostering relationships with current tenants. The reality is your current technology is costing you more than you realize.
At RentTango, we want to lease together. Our software can help reduce the amount of unproductive time your team spends staring at computer screens. It just doesn’t have to be that way. RentTango customers can cut as much as 60% of their time spent on leasing. Think of what you could do if your week were freed up by a few hours? We built the RentTango marketing and leasing platform to eliminate manual processes and tedious admin tasks.
Using artificial intelligence, marketing automation and customized workflows, we’ve created a system that helps you do more with less effort. And no, this doesn’t mean you have time for an Outer Banks marathon on Netflix. But, you will have time to go out in the lobby and pets some dogs, chat it up on the roof deck with the tenant in 13F – you’re free to better manage by walking around and creating connections.
Changing roommates, lease extensions, adding riders, moving to another unit – RentTango has customizable contract templates and automated workflows for all types of lease creation and modifications. When you make RentTango part of your leasing strategy, you can reduce risk of errors, create quality control, standardize processes, and react quickly to tenant needs. We’re talking click, boom – done.