Lease agreement management is no simple task, especially with large numbers of contracts. That’s why tractFile was created to help you manage a limitless number of contracts easily and efficiently, and manage their workflow from generation to signature to payment and collection. With tractFile, you can stay on top of your contracts ahead of time, generate contracts automatically from pre-defined templates, generate recurring payment and billing collection schedules, and customize the information you want to include in your contracts. All of these functionalities are perfect for lease agreements, whether in terms of the lessor or lessee. The following article will look at how tractFile streamlines your lease management.
Never Miss a Lease Payment Thanks to Recurring Payments and Billing, and Automated Reminders
One of the best things about tractFile is the ability it gives you to set up automated recurring billing and payments for your leases. Long gone are the days of missing a payment due date and incurring late payment penalties because of misfiled paperwork, lost checks, or overflowing bill inboxes. With tractFile, you can set up your billing or payment schedules to suit your needs, with just a few simple steps. In addition, you can make custom configurations like pre-defined rate changes to be applied when and how often you want. You can also easily generate accounting paperwork for each transaction and email or export them to the relevant parties. And you’ll save even more time thanks to e-signatures, which let you get your contracts signed and finalized digitally, rather than waiting around for the mail.
TractFile also makes it easy to set up reminders for all important events in your lease agreement. With just a few mouse clicks, you can define advance reminders for things like expiration dates, payment due dates, and billing schedules. Once set up, the system will send out reminders ahead of each due date, saving you the cost and stress of late fees. Additionally, you can set up automatic rate changes if needed, on the dates and at the intervals you specify, eliminating the need to do so each time you want to increase (or decrease) lease costs. What’s more, as lessor, you can easily send out digital invoices to lessees for each lease payment due.
Easy Set-Up, Payment, and Collection
Lease paperwork is a snap to set up with tractFile’s predefined templates. Feel free to use them to expedite your contract generation, but at the same time know that you can custom tailor your contracts to contain the details you need, whether in the form of data, notes, or even file attachments. For instance, you could upload photos of a property pre-lease and post-lease to keep track of upkeep and prove any possible damage, or photos of included amenities to ensure a full inventory.
Payment and payment collection are just as easy and user-friendly. Using a recurring payment schedule, all you need to do is enter payment details once, and the system will save them for future deposits, which will be made directly into the account you specify. And again, it’s a cinch to generate invoices for lease payments made and to send them out digitally, saving you time and trouble. Furthermore, you’ll always have access to archived invoices, so you’ll never lose track of who paid whom, how much, and when.