Whether your tenants are practicing social distancing or simply cannot easily meet in person due to schedule constraints, the ability to digitally review and sign documents is a huge benefit for all parties involved.
What is an eSignature?
Simply put, eSignatures allow for legal authorization, consent, or approval on electronic documents or forms. Federally compliant eSignatures are valid and legally binding across the globe and are treated the same way a handwritten signature on a paper document would be treated.
Are There Risks to Electronic Signatures?
Take care to use a compliant eSignature service. Many programs have the ability, but not every digital application should be used as they might not be considered legally binding. While many word processing applications technically have digital signature features, or may allow extensions or add ons to fulfill this need, not all applications are alike.
Electronic signatures can bring a new level of convenience, but not all forms of electronic signatures are risk-proof. Compliant eSignatures are tied to personal identification to ensure that the signature actually belongs to the person specified. To ensure that the identity of the signee(s) is valid, it is imperative to utilize a secure service provider.
Compliant and secure eSignature services also serve to protect the data within the document. Landlords and property managers should be cautious when utilizing eSignature providers and should be confident that they are protecting their own and their tenants’ data.
To do this select an eSignature service that offers explanations on their security and compliance measures. Your service should comply with standards and regulations like U.S. federal ESIGN Act and UETA Act, as well as many other international laws and statutes if you plan to be a long-distance landlord. Proper security measures and compliance will ensure that eSignatures are virtually risk-free and far more convenient than their handwritten counterparts.
How Are eSignatures Useful for Landlords?
Utilizing eSignatures provides property managers and landlords an easy, secure, and fast way to get lease agreements and other important documents signed. This means you can more easily move new tenants through the application process, lease signing process, and move-in process. This seamless transition allows landlords and property managers to save time with each tenant, which quickly begins to add up.
Using electronic signatures eliminates paper and the time-consuming processing of printing, scanning, and emailing important documents to and from your tenants and owners. This feature delivers a valuable new way to save time and money, and help you secure lease agreements and legal documents faster than ever before. Online leasing and electronic signatures also help you make a positive impact on the environment by contributing to paperless business practices.
Finally, when combined with other practices like virtual tours, eSignatures can help ensure safety and compliance with social distancing regulations in your area.
How Do I Use Electronic Signatures With Property Management Software?
A great property management software will partner with a secure and compliant eSignature service. An electronic signature integration allows for even more time savings for property managers and landlords. Your software’s integration should allow landlords and managers to send lease agreements to new tenants, and also provide an easy way for property managers to send documents such as management agreements for owners to sign.
If you use Rentec Direct, we’ve already done all the research and integration with a trusted eSignature platform, so you don’t have to. Rentec Direct clients are able to use HelloSign for eSignature needs.
Within your software, simply create an “envelope” that contains your lease documents within the software that can be sent electronically to your tenants, or whoever needs to sign it. An envelope is simply a secure electronic container used to send one or more documents for signature within the software.
Your tenant(s) will receive an email with a link to access your “envelope” document file through HelloSign’s online software. Recipients can review the document and provide an electronic signature that legally signifies their understanding and compliance with the lease terms. For your tenant, it’s as simple as clicking the link in the email, clicking the signature button, and clicking Finish.
Once a lease is electronically signed by your tenants, you have a legally binding signature. The signed document will be safely stored within the tenant’s File Library in your Rentec account as a PDF file.
For detailed instructions on using eSignatures within the Rentec Direct software, visit the Knowledge Base Article – Electronic Signatures (HelloSign).
