Adding properties is a simple yet vital process to setting up your Rentec Direct account.
Adding a Property
Important Note: Prior to adding your first property, we recommend you follow the order on your Welcome Screen and review the Quick Start Guide. The order in which you enter information will affect the flow of information across the system and skipping steps could create extra work to correct later.
In your Rentec Direct account:
- Click on Properties.
- Click the Add a Property option.
- Enter the details for your property and be sure to indicate if the property is a multi-unit property and how many units are in that property. This will trigger subunits to be generated.
More information about subunits can be found here: Multi-Unit Property
System Note: Few fields are actually required; however, the more information you enter, the more the system will work as designed as these settings interact and affect other areas of record keeping, subunit set up, flow of transactions across tabs and ledgers, etc.
- Enter the Default Rent and Default Security before placing a tenant into the property.
- Assign the Default Income bank account and Default Expense bank account.
System Note for PM subscribers:
- Be sure first to add owners and property managers and then assign them to the property being created.
- If you anticipate tracking management fees for your property and would like the program to automatically calculate and post those fees, you will want to be sure to establish the management fee structure prior to placing a tenant in your property.
More information regarding management fees can be found here: Automated Management Fees
- Click the Add Property button when complete.
Note: you will then be taken to the Marketing Information page which can be completed at any time or when you are ready to market your properties.
More information on marketing can be found here: Marketing Your Rental Through Online Listings
System Note: The system allows you to create custom fields that can be useful when creating custom forms and to keep important property information easily accessible. Custom fields can be added to the system and to the property at any time.
Additional information about custom fields can be found here: Custom Fields
Additional Property Information
There are many ways to navigate to the property information or ledger:
- The property rolling balance is a link that gives you details of every transaction related to this property in a general ledger format.
- To enter a ledger, you can mouse-over the address or click on the balance on the right-hand side. This general ledger is also available to the owner in their portal. The 3 icons on the right are quick links for posting income and expenses, and opening the drop-down menu providing more functions for the property.
- You can also right-click in the gray area (two-finger tap for Mac users) to find the same menu as the icon.
Additionally, right from this screen, you can place a tenant into this property by choosing place new tenant link in the middle of the screen or from the drop-down menu.
More information on adding tenants into a property here: Place a Tenant Into a Property