Chapter 1

The Benefits of an Online Rental Lease

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The Complete Guide to Rental Leases

The Benefits of Online Rental Leases

Before the creation of property management software, landlords needed to set aside time to meet with tenants to sign the lease in-person. Now that online rental leases exist, it’s now easier than ever for DIY landlords like yourself to carry out a lease agreement and start managing your rental all online.

Let’s take a look at benefits both you and your tenants can experience by implementing online rental leases into your process.

How Landlords Benefit From Online Rental Leases 

As a landlord, online rental leases can improve managing your rental in the following way:

1. Saves Time 

In the past, the lease-signing process required tons of time to carry out. Not only did you had to customize your lease and print it out, but you also had to travel to sit down with your tenant to go over the lease. You may have even had a lawyer review your lease to be sure your agreement is legally-binding and compliant with local regulations.

But now with platforms like Avail, you can easily access state-specific rental lease templates that are compliant with local ordinances and customized to your liking. Once you’ve finalized your lease and ready to have your tenant sign, you can do so online without having to travel anywhere or print the documents.

2. Make Your Tenants Happy

Tenants appreciate the convenience of signing online without having to take time to meet you at a location. Online rental leases allow tenants to sign electronically and can be done on their phone, desktop, or tablet. The lease itself is available 24/7 to you and your tenants so you can both look up something on your lease at your convenience.

By having the lease available anytime and anywhere, tenants can easily access their lease whenever they have questions on how maintenance is handled or how you collect rent.

3. Easily Catch and Fix Errors

When you create an online lease agreement, you can easily review any templates to catch any errors before having any tenant finalize the lease. Instead of having to print and review to only reprint, you can easily update any clauses online and then send it to your tenants when it’s error-free.

4. Get Better Reviews 

When you make tenants happier, they are more likely to write positive reviews about your rental business. Positive testimonials increase your chances of finding great tenants in the future and increase tenant referrals.

In addition to online reviews, your tenants will talk positively about you as a landlord and increase word of mouth referrals. The more positive reviews, the more likely you can avoid a rental vacancy.

5. Easier to Renew

When your lease is signed and stored online, it’s even easier to renew your rental lease. All you have to do is send a new lease to your tenants with the updated lease dates (and any other changes you want to make) and you’re all set.

How Tenants Benefit From Online Rental Leases 

online rental leases makes moving easier

The digital leasing process benefits tenants in a similar way:

1. Faster Communication 

Our software makes the entire rental process more transparent. Tenants can see from their accounts where they’re at in the process and they’ll even be notified via email when the lease is ready for their signatures.

When everything is readily seen by both parties, there is less confusion and unnecessary communication, which speeds up the whole process.

2. Easy Access to the Lease

Tenants will no longer need to search for the printed lease agreement. They can read the lease anytime when they log into their tenant account, and then can easily pay rent online at the same time.

It’s important for tenants to be able to access their lease since it informs them on how to pay rent, what day their rent is due, how to report maintenance issues, and more. If this information is easily available to them, they can complete things faster and you’ll receive less back-and-forth questions.

Accessibility to the lease is especially important if your tenant is moving from out-of-state. Instead of having to be there to sign the lease, he or she can sign from anywhere in the country, even anywhere in the world.

3. Smoother Move-In

Tenants tend to have a lot of questions when nearing their move-in date. The lease should tell tenants which utilities they are responsible for, how to pay their first month’s rent, and more.

If the tenant understands the lease terms before they move-in, this can help them feel more prepared when planning their moving day checklist.

Frequently Asked Questions: Online Rental Lease

You might be wondering if it’s legally binding, affordable, and easy to sign your lease online. We’re here to assure you that it’s all of those things and the benefits extend beyond that.

Are Digital Signatures Legally Binding?

Digital signatures are as legally binding as written signatures, according to the Electronic Signatures in Global and National Commerce Act. This act was enacted by Congress in 2000.

How Do You Digitally Sign? 

Digital signatures are easy. Typically, all you have to do is enter your full legal name as stated on the lease and the date of signature. For landlords and tenants using Avail, you will be asked to enter your name, account password, and check the “Terms and Conditions” tab to sign your lease.

If you’re uploading your own ready-to-sign lease agreement, you can place a signature or initial box where you see fit on each page you want your tenant to sign. Once they’ve provided their signature, you’ll be prompted to add your own to finalize the lease signing process.

How Do You Sign as an LLC? 

The signature process is the same if you want to sign as an LLC. Enter your LLC’s name instead of your name. This allows you to sign as your company instead of as an individual.

Is a Online Rental Lease Affordable to Create? 

While some property management platforms charge a fee to electronically sign lease agreements, this can be easily done so for free on Avail. All you have to do is create an account, create an online rental lease, and then send to your tenants for signing.

Digitally Sign Your Online Rental Lease With Avail

Now that you know of all the great benefits that come with online rental leases, it’s now time to create your own customized lease agreement with free property management software. Easily create and manage legally-binding lease agreements without having to hire a lawyer or traveling to meet with your tenants.

Once you send the online rental lease, we take things from there to ensure your tenants sign it right away. Create an account or log in to your account today to get started.

After deciding that an online lease template is the best option for you, the next step is researching your state and local landlord-tenant laws. Continue reading below to learn how to comply with landlord-tenant laws in your rental lease.