{"id":11774,"date":"2019-10-18T13:30:59","date_gmt":"2019-10-18T20:30:59","guid":{"rendered":"https:\/\/www.rentecdirect.com\/blog\/?p=11774"},"modified":"2019-10-18T13:30:59","modified_gmt":"2019-10-18T20:30:59","slug":"landlord-tips-paperless-office","status":"publish","type":"post","link":"https:\/\/www.rentecdirect.com\/blog\/landlord-tips-paperless-office\/","title":{"rendered":"Landlord Tips to Tame the Paper Tiger: The Paperless Office"},"content":{"rendered":"

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We all have some understanding of the environmental impact of the printed page but converting to a paperless office in an industry surrounded by documents may seem impossible. Although it will take some planning to <\/span>go green<\/span><\/a>, taming the paper tiger isn\u2019t as difficult as you might think with these helpful tips for a paperless office.\u00a0<\/span><\/p>\n

Why Go Paperless?<\/span><\/h2>\n
    \n
  1. Saves Money<\/strong>
    \n<\/b>Think of how much money you could save if you stopped paying for paper, <\/span>    liquid gold (also known as printer ink or toner<\/span><\/a>), maintenance or replacement of machines, storage, and the wages for someone to sift, shuffle, sort, and store these documents.<\/span><\/li>\n
  2. Better Organization<\/strong>
    \n<\/b>Anywhere access to documents can make life easier for <\/span>    the busy landlord<\/span><\/a>. Having anywhere document access also <\/span>makes vacations possible<\/span><\/a> and maybe even enjoyable.\u00a0<\/span><\/li>\n
  3. Competitive Advantage<\/strong>
    \n<\/b>Not only does it <\/span>    attract the next generations of tenants<\/span><\/a> and owners when you go green for environmental reasons, but they also benefit as you do by staying organized and connected. Standing out to owners is a <\/span>great way to grow your business<\/span><\/a>.\u00a0<\/span><\/li>\n
  4. <\/b>Better than a Filing Cabinet<\/strong>
    \n<\/b>It\u2019s much more difficult for a criminal or curious employee to access documents through a protected software than a locked filing cabinet. The storage of printed documents is limited by the availability of physical space.<\/span><\/li>\n<\/ol>\n

    Perhaps you are already on your way to a paperless office and enjoy the benefits of going paperless in the office or this might be a new concept completely. Wherever you find yourself, the following suggestions might help you get closer to your goal.\u00a0<\/span><\/p>\n

    Electronic Signatures for Contracts<\/span><\/h2>\n

    How binding are electronic signature? It\u2019s been almost twenty years since the federal ESIGN Act established an <\/span>electronic signature as a viable option for legally binding contracts<\/span><\/a>. Although the act establishes the option to capture an electronic signature in lieu of a written one, at the state level, be sure to check with your attorney to see if your document qualifies.\u00a0<\/span><\/p>\n

    As a previous property manager, I recall the dozens of printed pages for every inspection, lease, contract, etc. And it didn\u2019t stop there. After every party signed the documents we would then print a copy to file in-house and another to give to the resident; mailing off the original to the corporate office.\u00a0<\/span><\/p>\n

    In today\u2019s world, those electronically signed documents can be stored as a .pdf on a tenant portal for access as well as within a <\/span>property management software<\/span><\/a> file folder eliminating the need to print altogether.\u00a0<\/span><\/p>\n

    Communication Online<\/span><\/h2>\n

    It\u2019s hard to believe how much the rental property management industry relied on faxing in the olden days. Seemed it was often used to verify rental and employment information as it was a secure way to send sensitive data. If you find yourself still relying on a fax machine, there are secure electronic options to try such as an encrypted password-protected document. Most online word processing tools allow you to create either a secure sharable link to a document or create a password for document access. There are so many options to communicate electronically and with the future demands towards more <\/span>technology in the rental industry<\/span><\/a> should foster innovations to consider.\u00a0<\/span><\/p>\n

    Property Management Reports<\/span><\/h2>\n

    To move towards a paperless office, reviewing documents on-screen when possible will cut down on printing. It may require you to download viewing software or apps such as Adobe Reader.\u00a0<\/span><\/p>\n

    It takes some getting used to, especially when handling accounting tasks such as reconciling. Typically online reports are available to download in .csv format which allows you to open in a spreadsheet using a word processing tool. From there the information can be merged with other data, sorted, arranged, and searched with ease. You could also use your spreadsheet tools to create additional graphs and charts, create pivot tables for analysis, or simply use the equation tools to sum or average the data.<\/span><\/p>\n

    Workorders, Requests, and Inspections<\/span><\/h2>\n

    Again, I remember the days that all requests were handled in writing, actual ink to paper. My eyes would strain to make sense of the illegible. Moving to an online option where tenants can log into a portal to send a request or workorder just makes sense in terms of time savings and in keeping requests organized and prioritized. Paper can get lost, coffee can be spilled, and tenant requests are just too important not to consider an online alternative.\u00a0<\/span><\/p>\n

    Consider conducting inspections using your phone or tablet. This free you from holding that pesky clipboard while awkwardly taking photos. Better yet, if that inspection app integrates with your property management software it further streamlines your common landlord tasks<\/a> efficiently.<\/p>\n

    Rental Advertising<\/span><\/h2>\n

    Still printing out flyers for your rental advertising? If it works, great! However, a quick analysis of interest from online listings and referrals versus a printed flyer may convince you to drop the printed advertising flyer to save time and money.\u00a0<\/span><\/p>\n

    Cashless Rent Payments<\/span><\/h2>\n

    Cash, checks, money orders are all forms of paper. Cash is risky and handling checks time-consuming. Additionally, going cashless and letting your tenants pay rent online reduces operating expenses, reduces past due accounts, creates a digital paper trail, and improves tenant-landlord relations. <\/span>
    \n<\/span>
    \n<\/span>Simple ways to convert to a cashless office while converting to a paperless office would be to invest in a property management software that offers a merchant processing option to receive electronic payments from your tenants and send contributions back to owners. Research your software to see if it allows tenants to pay by cash at local convenience stores using tools such as PayNearMe.\u00a0<\/span><\/p>\n

    Online Receipts\u00a0<\/span><\/h2>\n

    Once you\u2019ve gone cashless, you can also automate payment receipts. Good software will post the payment received to a tenant portal. Additionally, many stores and vendors these days offer electronic emailed receipts for the asking.\u00a0<\/span><\/p>\n

    Tenant Resources<\/span><\/h2>\n

    Between all the notices, flyers, information that gets sent out to the tenants for every move-in, inspection, holiday, emergency, etc. it\u2019s a wonder there isn\u2019t a papercut reduction initiative. Perhaps not everything can be electronically delivered but here are a few suggestions to move towards a digital offering:\u00a0<\/span><\/p>\n