If you need to make an owner contribution(deposit) to their property for additional expenses, here is the steps you can follow: If you haven’t already set up a category for owner contributions. This is what you would want to do first 1. Set up a new category under Settings/Setup Categories 2. When “adding a new ..
As a property manager, your policy might require you forward collected tenant security deposits to the owner of the property prior to the tenant moving out of their rental. To document this in the program, follow the steps below: 1. Move a tenant into their unit as normal, through the property tab, and document their ..
Within Rentec PM, an owner can be assigned to each property. By doing so, you will be able grant access to the owner portal, offer a custom Owner Statement and view a status of an owner’s ledger. If the property you manage has more than one owner, there are ways to document the multiple entities ..
At times you might find it necessary to “move” the cash flow from one property to pay for another’s expense when both properties are owned by the same owner entity. To reflect the transferring of funds from one property ledger to another, follow the steps below: 1. Create a custom “other” category for this transaction. ..
Two great features our Rentec PRO, ASSOCIATION and PM users can take advantage of are the Tenant and Owner Portals. These online portals allow your tenants and the owners who you manage property for to log on and have a snapshot of their account. A great way to learn more on how the two portals ..
A reserve is an amount typically held by a property manager to pay for unexpected expenses to a property during the term of management. Typically the reserve is either paid for by the owner in advance or taken from the first month’s rent prior to the owner distribution (or owner draw). Rentec Direct supports tracking ..
You can setup your own dedicated merchant account using Rentec Direct for accepting ACH and credit cards. One of the major benefits of having your own merchant account tied to Rentec EasyPay is being able to pay owners via ACH. But that’s not all. Setting up a merchant account has these benefits too: Quicker turn-around ..
1. To keep track of management fees, and for better reporting, we recommend utilizing the category for management fees and creating one for placement fees if you have not already done so. To do this, click the Settings tab, then click Setup Categories. Add one new category for ‘Placement Fees’. Enter the type as ‘Expense’. ..