In today’s digital age, landlords must take advantage of online lease signing. Not only is it more convenient for both landlords and tenants—but it also helps to protect both parties from a legal perspective. An electronic signature is just as binding as a traditional paper signature, and it’s much easier to track and manage. Overall, using an online lease is a smart way to simplify the leasing process while providing legal protection for everyone involved.
5 Benefits of Online Lease Signing for Landlords
As a landlord, you want to make the leasing process as simple and efficient as possible—both for yourself and your tenants. Using an electronic lease can help.
Here are some compelling reasons to utilize online leases in 2024 for your rental property:
1. Reduce Vacancies
You can get tenants set up quickly and easily by allowing rental contracts to be signed online. No need to chase people down for signatures or wait for the mail to deliver documents. Plus, signing online makes the renewal process easy; you’ll be able to keep your tenants happy and reduce turnover. Whether you operate with month-to-month rental agreements or are preparing sublease contracts, you’re more likely to fill vacant spots faster if you allow tenants to sign your leases electronically.
2. Increase Office Productivity
Traditional lease signing can be time-consuming, and delays can frustrate everyone involved. But with online lease signing, you can automate the contract signing process and create and sign leases in bulk ahead of time. This will free your staff to focus on more important tasks and increase office productivity.
3. Sign on the Go
Allowing rental agreements to be signed online will help ensure that you’re not tied to a desk all day. You’ll be able to sign documents from anywhere—even your phone. Rather than chasing down tenants to sign paper documents, you can do it all in one place with an online rental agreement. This flexibility is ideal for busy landlords and tenants who are always on the go.
4. Secure Document Storage
A significant benefit of signing a rental agreement online is that it reduces office clutter; all documents can be stored online in a secure, centralized place. Knowing that their rental agreements are safe gives peace of mind to landlords and tenants. Online lease signing is more secure than traditional methods, as all documents are stored in a secure database that only authorized users can access. In addition, digital signature platforms like Signaturely provide encryption in transit and at rest to meet all security requirements.
5. Convenient for Everyone
Using digital signatures for landlords reduces office clutter by storing documents in a secure online place. This is convenient for landlords and tenants, allowing them to access the documents anytime, anywhere. In addition, this approach is more secure than traditional methods, as all documents are stored in a secure database that specific users can access.
Why Tenants Should Sign a Lease Online
As a landlord, you want what’s best for your tenants and your property. An online lease offers many benefits for all parties involved. There are a few reasons why your tenants should sign a lease online:
Ease of Use
Perhaps the most obvious benefit of signing a lease electronically is that it is easier to process than a paper rental contract or property agreement. Tenants can review and sign their lease from anywhere with just a few clicks rather than having to schedule an in-person meeting with their landlord. This is especially beneficial for tenants who live far away or have busy schedules. And because everything is done electronically, landlords can store all their leases in one central location for easy retrieval.
Signing a lease electronically isn’t just more convenient for tenants; it also saves time. Tenants can complete and sign their lease in minutes rather than hours or days. This means they can move into their new rental unit and start enjoying their new residence sooner. In addition, landlords won’t have to spend as much time tracking down tenants to get them to sign the lease—they can send documents for signing directly to the right people, no matter where they are.
Review Your Lease Anytime
Another advantage of signing a lease electronically is that tenants can easily review their lease agreement any time they want—day or night. It’s easy for paper leases to get lost or misplaced. With an online lease, tenants always have access to their lease agreement should they need to refer back to it for any reason.
Is Online Lease Signing Legal?
Many people are unfamiliar with signing a rental agreement online and are unsure of its legality. However, it is important to understand that when tenants and landlords electronically sign a rental agreement, it is just as legally binding as signing in person. For a contract to be considered valid, both parties must agree to its terms and put their signature on it. When you sign a lease online, you are doing exactly that; therefore, the contract is considered valid and legally binding.
As long as both parties have computer and internet access, they can sign the lease electronically. Digital signatures are even more secure than traditional signatures since they cannot be forged or tampered with. Landlords and tenants can rest assured that signing a rental lease online is a perfectly legal way to finalize their agreement.
How to Create an Electronic Signature for Online Leases
As a landlord, using electronic signature software for online rental agreements makes sense.
Creating a digital signature is essential to move your lease signing process online. Perhaps you’re looking for a way to streamline the lease agreement process, or you want to make it easier for tenants to sign leases from anywhere in the world. Whatever the reason, Signaturely makes it easy to create and distribute electronic signatures for online rental agreements. The platform also includes a free plan for your basic electronic signature needs.
Here’s how to create a digital signature to sign your lease online:
- First, you’ll need to establish your signature on the Signaturely platform. This can be done easily by typing or drawing your signature or uploading a file with your signature.
- Once your signature has been uploaded — whether it’s a signature image or a typed signature — you can use your account to create and distribute contracts and agreements.
- For lease agreements, prepare the document as you normally would and then add your signature using Signaturely. You can send it to the recipient, who can then view and sign the document electronically without having to print it.
FAQs About Signing a Lease Agreement Online
Here are a few frequently asked questions about signing a lease agreement online:
In California, a legally binding lease can be signed electronically if both the landlord and the tenant agree. This agreement must be in writing, and each party must have a way to store and access the electronic document. Once the agreement is in place, the landlord and tenant can sign the lease electronically using dedicated software or an online service.
In Ontario, Canada, it is possible to sign a lease electronically. This can be done using an eSignature tool like DocuSign or Signaturely. These platforms offer a convenient way to sign any document from anywhere in the world.
What You Need to Remember About Online Lease Signing
Signing lease agreements online has become a popular way to complete transactions and for a good reason. It’s convenient and secure for both landlords and tenants. It also helps reduce vacancies and increase office productivity. If you’re a tenant looking for an easy way to access your agreement or a convenient way to sign your new lease, completing the process online with an eSignature is the way to go. If you’re a landlord looking for a more efficient way to manage your leases, consider implementing online lease signing in your daily operations.