Topic: Online Leasing vs. Paper Applications

Greetings fellow Insiders,

Our company is still "old school" with paper applications, leases, paper Itemized Disposition of Security Deposit, etc. We are considering Appfolio and others however don't like that its like "renting" the software and is charged on a per apartment unit basis. Does anyone have any detailed experiences good or bad with Appfolio or similar companies? It seems renters still prefer writing their application, and doing a lease signing in person. Any insights are appreciated on this topic.

We switched to appfolio, in some areas it is great and cuts down on paperwork. I find that I had a closer relationship with the tenants using the old fashion leases as to the online thing. I personally like a face to the name and the old fashion gut feeling. We have about 180 properties so this system does save me quite a bit of time. The screening process is much easier on appfolio, in one click i can see total background and credit. I find some owners do not care for the reports we run, they are hard to read and this causes a few owner headahes. 80% of our tenants pay online using the system while others still like the old fashion drop box or in person method. It is wonderful with repairs issues and tracking them.

There is no beating online leasing for convenience! However, when future residents sign leases online (using a program such as Docusign) they almost never really read what they are signing. So, in order to prevent their glossing over important information, you should require initials on those paragraphs and when the resident comes to pick up keys, initiate the conversation enforcing those points that cause you the most problems: early termination, late rent charges, how to use the online portal to pay rent, giving notice (kind of a mini lease signing) and have them sign stating this information was provided before handing over the keys. Online leasing makes Leasing Consultants' jobs better but a face-to-face gives residents a chance to ask questions with an immediate response. In addition, I have found when signing online, 90% of residents will ask for their paper copy of the lease, especially if they have children they need to enroll in school or need to update a driver's license.