Rentec Direct Review

Rentec Direct is a web-based property management software solution that offers straightforward interfaces and a well-integrated accounting system, making it a competent choice for property managers with a small- to medium-sized portfolio of single-family and multi-unit properties.

The Good

Clean and simple interfaces

One of Rentec’s core philosophies is to keep things simple, and that belief can be found throughout the software. The interfaces are not flashy and many of the processes have a flow that is logical and quickly learned. Processes are generally broken down into clearly defined steps, which makes it easy to follow the workflows. A small pop-up box appears when a task is completed. As you become more comfortable performing tasks, the pop-up box can be turned off, but it’s a helpful resource as you first learn the program.

Multifaced reporting

Generating reports is a strong feature of Rentec Direct. The reporting interface enables you to select between four different categories of reports and then filter by a particular property, unit, or bank account. Each report is also clearly defined, making it easy to identify the report that delivers the most value. Having the ability to filter gives you more insight and understanding into the strengths and weaknesses of each property.

New search functionality

The 4th quarter of 2013 brought some major usability updates to Rentec’s accounting ledger. Perhaps most useful, a new search feature was added to the ledger, enabling you to search for any criteria. You can also filter the ledger by property, tenant, bank, or owner lists. The layout was also cleaned up, and feels a lot more organized and easier to read. Each of these updates improved the user experience and enhance your ability to quickly find the information you need.

Accounting made easy

If you lack confidence in your accounting abilities, the built-in accounting features will probably appeal to you. Rentec Direct automatically records transactions as they occur and gives you autonomy over when each one is posted. This simplifies the accounting process and removes much of the possible doubt that could occur.

Thorough knowledge base and other self-help options

Rentec Direct offers a variety of support features. A decent quick-start guide accompanied by a video tutorial walks you through basic tasks like adding bank accounts, new properties, and new tenants. For those interested in problem solving on their own, there are video tutorials, a user guide, and a comprehensive knowledge base where you can find answers to dozens of specific questions. The knowledge base offers a global search feature and also organizes answers by topic, making them easy to browse.

Simplified file management

Rentec provides a file library that makes it easy to upload and manage all of the documents associated with property management. You also won’t have to worry about extra storage fees, as Rentec Direct comes with unlimited storage capacity.

The Bad

Dashboard not very customizable

The summary page essentially provides high-level information regarding the occupancy rate, net income summary, and notices. You can filter the information based on individual properties, and the net income summary can either appear as a pie chart or as summarized income/expense line items according to month, quarter, or year. However, the ability to make any significant changes to the dashboard is minimal so you’re stuck with what’s offered to you.

Credit card needed for free trial

Rentec offers a free 30-day trial, which gives you a nice opportunity to get familiar with the software. However, in order to access to the trial account you have to enter your credit card information, and if you don’t cancel before the trial is up you are charged the monthly rate. Rentec does send you a reminder email 5 days before your account expires, but if you’re just interested in taking a quick look at the software, all of this can be a hassle.

The Details

Details

  • Free Trial: 30 days
  • Monthly Minimum Fee: $10 - $19.95
  • Price - Commercial Property: $25 - $225/month
  • Price - Residential Property: $25 - $225/month
  • Volume Discount: 401+ properties

Pricing

Rentec’s overall cost-per-unit structure is very competitive. It is particularly competitive for those managing over 200 units, but larger portfolio companies will likely desire more features. However, it also has low-cost entry, requiring a minimum monthly payment of only $25. Experimenting with the 30-day free trial will help you get familiar with the software and give you a good sense of its usability and functionality.

Units

  • $25 month: 1 - 25 units
  • $45/month - $75/month: 26 - 99 units
  • $125/month: 100 - 200 units
  • $175+/month: 200+ units

Premium Add-On Services

  • Credit Report + FICO: $8.95/report
  • Nationwide Criminal: $8.75/report
  • State Criminal: $6/report
  • County Level Searches: $9.90/report
  • SSN Validation: $3.95/report
  • Bankruptcies/Judgments: $9.65/report
  • Evictions: $8.50/report

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