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 eSign (e-sign) rental agreements.
Why Landlords and Tenants Should eSign Rental Agreements
1. E-sign is legal
The biggest concern for landlords is knowing that eSigned documents are legal documents. The rental agreement contains both the landlord’s and tenant’s 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 eSignature are legal documents. The U.S. Electronic Signature in Global and National Commerce Act of 2000 (ESIGN) and the European Union eIDAS (EU No.910/2014) ensure that all electronic signatures and transmissions are legal. International laws make eSign legal in 188 countries.
Related: What’s the Best Way to Communicate With Tenants—Text, Email, or Phone?
2. 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.
3. Signers will save time
The most significant benefit to landlords of eSigning 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 eSignature, you can send the lease online; tenants then have the time to review it, eSign it, and email it back. Just think how quickly the process will go.
Plus, eSigning 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.
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