Senior Living Leases

By on Sep 23, 2019 in News, Technology

Does your senior living community offer electronic leases yet? Maybe you’ve heard the term, but don’t know if it’s worth the transition. Well, rest assured, there’s plenty to like. From faster sales cycles to searchable online records, electronic leases make the move-in process painless – for both your staff and your residents.

At their core, electronic leases, or eleases, are a legal and secure online version of the document that you already know so well. But you’re missing the full picture if you think it’s only a digital agreement thrown on a computer screen. A full electronic lease management solution like what Yardi offers can help you generate customized leases in a few clicks, get mobile signatures from family members and store the forms in one centralized place, saving hours of labor (and who knows how many headaches).

We’ve built eleasing into the entire Yardi Senior Living Suite. From creation to approval to signing, everything flows together seamlessly so your sales counselors never have to retype a thing or search for another missing document. And at the executive level, you can manage leases across communities and states, pushing real-time rates for rooms and services to teams on the ground floor.

Here’s a quick look at how the process works in the Yardi senior living solutions.

Generate a new lease in no time with Yardi Senior CRM

Once a prospect has decided to join your community, your staff can jump into Yardi Senior CRM and quickly create a new lease specific to that resident. Senior CRM offers an automated, online workflow, which guides staff through each step of the prospective lease agreement: Select the community, enter the deposit, choose a unit and add any incentives or concessions. They can then adjust the care level and create a quote for your approval.

One of the best features is that all the pieces (and prices) are connected back to your business office, thanks to the integration with Yardi Voyager. You can be sure that the rate for unit 541 is right, for instance, and charges for extras like cable TV or a parking spot are all linked too.

Senior CRM then takes the options selected and generates an actual lease document, populating your lease template with the custom information and legal necessities. All that’s left is the resident signature – which is just as easy to take care of.

Collect electronic signatures from anywhere with RENTCafé Senior Living

Just as you might highlight where someone needs to sign on your paper lease, you can designate where signatures go on your electronic leases. When you’ve finished, the documents are uploaded to RENTCafé Senior Living, an online resident portal for communicating with care providers, viewing news and upcoming activities, submitting maintenance requests and, of course, signing forms electronically.

Your prospective residents get an email first, inviting them to sign the lease in RENTCafé Senior Living. They can then choose a signature or write their own to use throughout the document, which then comes back to Senior CRM for your team to countersign. Again, all online.

Even more convenient, the leases can be signed from a smartphone or tablet too. The RENTCafé Senior Living app is available for both iOS and Android. Family members can download the app as well to stay connected with their loved ones and sign documents as needed. The app will push notifications to the required signers, letting them know there’s a form waiting. That means you can have any relative sign quickly, whether they’re in your office or in another state.

Store every document in one database with Yardi Voyager

All your forms – leases, addendums, even care assessments – are tied to a single resident record within Yardi Voyager. Since there’s a single database, you don’t have to shuffle between separate programs, spreadsheets or filing cabinets to find what you’re looking for. It’s all in real time too, and that benefit extends to your staff. Everyone can add to the same record, making that information or document instantly available to everyone else. It keeps your entire team on the same page.

When you need to update an existing lease, Voyager helps you keep track and manage those changes through document version control. Whether due to new state regulations or additional care services, changes are fast and simple to make. You can instantly know which version of a lease a resident has, update the terms electronically and send for a new signature, if needed.

For extra efficiency, we offer Yardi Document Manager for SharePoint, which connects Voyager with the popular Microsoft content platform to create a single, centralized solution for storing and searching documents. Data syncs automatically between the two systems to reflect updates, and you can access content in SharePoint directly from Voyager with the same login.

Think your community could benefit from eleasing and esignatures? Get in touch and we’ll show you how the Yardi Senior Living Suite can streamline your document management.