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this is bigger pockets daily and it's friday i'm tyler and the article i'm about to share comes from the bigger pockets blog you can find a wealth of information on the site or by searching bigger pockets in any podcast app maybe that's how you found this show so let's get to it [Music] eight reasons the best landlords always e-sign rental agreements by remin okarua regardless of how tech savvy you are switching to e-signatures can be a daunting process there is something about a physical signature on a piece of paper that seems more reassuring more binding however landlords who make this technological change reap the benefits of electronic signatures as with any innovative digital solution people have reservations when talking about the smooth running of your property management business there is no room for mistakes with this in mind let's look at why the best landlords always e-sign rental agreements why landlords and tenants should e-sign rental agreements number one e-sign is legal the biggest concern for landlords is knowing that e-signed documents are legal documents the rental agreement contains both the landlords and tenants rights should anything go wrong it is essential that the lease agreement holds up in court so for the rent contract to be legally binding it must be signed by both parties electronic documents with an e-signature are legal documents the u.s electronic signature and global and national commerce act of 2000 e-sign in the european union e-i-d-a-s ensure that all electronic signatures and transmissions are legal international laws make e-sign legal in 188 countries number two e-sign is secure naturally you will have a username and password for your esign account both of which are encrypted by the 256-bit ssl method all personal data is also encrypted in the same format sessions are automatically closed after a certain period to stop other people from accessing your details number three signers will save time the most significant benefit to landlords of e-signing documents is that they save you time typically the traditional method of signing leases involves sending emails printing contracts signing the documents scanning them and sending them back an even more time-consuming process is having to meet with new tenants in person with e-signature you can send the lease online tenants then have the time to review it e-sign it and email it back just think how quickly the process will go plus e-signing documents is the perfect solution for long-distance landlords who need to arrange contracts and agreements without being there in person electronic signatures make this not only possible but also painless number four e-sign provides better document management before any rental agreement is signed an authentic copy is created what's more you have an accurate digital record of every transaction that is made number five e-sign is convenient for landlords and tenants as long as you have an internet connection you can access your lease agreements there is no need to rush to the office and dig through files to find a contract you can also download rental agreements to save them on your computer if necessary you can print them but most landlords are happy with the digital copy one advantage of using rent collection apps is that many have features to process rental applications and e-signed documents this streamlines your rental business even more number six e-sign makes renewing leases simpler as easy as it was to sign the original rental lease any lease renewals can be handled with the same process saving further time number seven landlords gain a better reputation the new generation of renters and even a large percentage of the older ones are looking for online services to make their lives easier esign is still a relatively new concept so offering this service allows you to stand out from your competition when tenants are happy they are more inclined to leave positive reviews both of these actions lead to an increase in unit occupancy number eight landlords can save money and help the environment printing leases costs money you must pay for paper the wear and tear on printers and photocopies and by toner and all these costs soon add up a lease agreement online can be changed unlimited times without the need for reprinting another great benefit for your business reputation is that you will welcome green people are more attracted to companies that actively help save the planet e-sign is the type of thing that will make you wonder how you survived without it it's fast legal valid and straightforward aside from boosting your reputation and providing your business with a modern professional look landlords can streamline the rental agreement process how to choose the best e-sign platform so here are some key features to look for in an e-sign platform security as mentioned before having a secure platform containing your personal details and your tenants details is essential look for websites with https instead of http because these sites offer more protection data encryption 128 or 256-bit encryption is also a must if a property management app offers e-sign features it's vital to ensure that it also meets the highest security standards biometric phone authentication while not essential using biometrics to access accounts is a highly secure authentication method it is also an attractive option for those who tend to forget passwords two-step verification is another safe way to protect your sensitive personal data notifications email notifications allow you to keep on top of digital transactions in a timely manner notifications are also a useful security feature because you receive a warning if anything happens without your knowledge or permission compatibility your esign solution should be compatible with business solutions that are already in place this will include multiple document formats like pdf word excel etc today's digital solutions are all about integrations so your esign platform should enable integration with the software you are using such as google drive onedrive and dropbox cloud storage is it possible to store all your lease agreements in a cloud-based solution this cloud service must be secure and allow for two-factor authentication user-friendly an e-sign platform that is not intuitive may lead to frustration on your behalf and the tenants the platform must be easy to navigate and use to avoid ending up with more work templates and customization another excellent feature to have is templates for your rental leases this will allow you to use pre-built agreements using the right language and vocabulary for the real estate industry for an even more professional appearance you should be able to customize your contracts to add your logo or other business details accessibility all of these useful e-sign features are great to have on your desktop but it's even better when you can access them from your mobile device you will be able to create send and consult these agreements at any time of the day from any location when your tenants can do the same everything starts to happen much quicker the many benefits of e-signatures e-signatures create valid and legal rental agreements in countries across the globe landlords who switch to e-signing documents choose an incredibly cost-effective solution to bring their rental business into the digital age this streamlined process of running a successful rental business saves you time and is more convenient for tenants utilizing e-sign services is also great for any landlord who wishes to boost their reputation make their tenants happier and increase their rental income [Music] thanks for listening to this show and enjoy your weekend me i'll be back here with another show tomorrow i can't remember the last time i took a day off [Music] so you