Manage Recurring Transactions
Rentec Direct is powerful in many ways. Most of it's power is designed to keep your tasks as simple as possible so you can focus on your business. One of the powerful features that sits in the background of Rentec Direct is how it manages any recurring transaction automatically for you. The great thing about Rentec Direct being online running on powerful internet connected servers 24x7x365 is that these recurring transactions are processed no matter if your at your computer or not. Even if your on vacation somewhere, these transactions still happen completely automatic.
Recurring transactions consist of any of the following. Tenant monthly rental charges, mortgage payments, annual tax payments, association dues, and many more. There are multiple simple ways to create automated recurring transactions.
The first and most obvious recurring transaction is the monthly rental charge you charge your tenant(s). When you move in a new tenant, the wizard will guide you through a couple simple steps to collect the necessary information to process the move-in request. Based on some of the information seen in the screenshot below, the system will automatically create a monthly recurring transaction to charge this tenant $625.00 per month which will then happen automatically every month thereafter.
Another common item to become a recurring task are expenses associated with your properties. Landscaping maintenance, mortgage payments, association dues, etc. are all common recurring expenses. In every post expense window there is a checkbox option (seen below) to make this a recurring transaction. It can recur Daily, Weekly, Monthly, or Yearly. Based on your selections the system will automatically process and post this expense for you based on your specified recurring interval.
You can always view all the recurring transactions that have been setup from the Settings tab. A list like the one below will show you all recurring transactions that are set to run, along with which property and tenant they are associated with. You can edit any of these transactions, or delete them using the quick links on the right.
Any recurring transaction can be edited. The options shown below are the data points necessary to property handle a recurring transaction. Any of these items can be changed at any time by you via this control panel. As found throughout this and many other interfaces in Rentec Direct, the small blue question marks give detailed information as to each option to help you through configuring these settings.