Management Fees - Post To Bank Account
The Rentec Direct software program allows you the option to set management fees to automatically post as an expense to a property either a monthly flat rate, a percentage of a tenants payment, or a percentage of the charged rent amount.
Instructions to set management fees to automatically post as an expense on a property each month can be found here: Automated Management Fees
Understanding Management Fee Payment Options
Most of our customers do not cut a check to themselves for management fees, they simply withhold the management fees from the monthly income received and the remaining balance (after expenses) is then later disbursed to the property owner.
Because a physical payment is not actually being processed, we've designed the automatic management fees to NOT automatically set a default expense bank account or a payee when they are posted.
Paying Out Management Fees
However, some clients wish to pay out that expense out of their bank account and we have a simple solution.
Instructions on how to create a check (or show a transfer or payout) for management fees can be found here: Paying Yourself Property Management Fees
Instructions on how to pay management fees to more than one person can be found here: Paying Out Separate Management