Multi-Unit Property

Multi-unit properties such as a duplex, quad-plex, or apartment are easy to enter into the software and automatically prepare your account to setup each subunit.

Most information entered in the Master unit will auto-fill in subunits, saving you setup time and ensuring accuracy.

Rentec Direct has integrated with partners to make insurance options available through your Rentec Direct account. Learn more about Renters Insurance, Landlord Insurance, and Security Deposit Insurance here: Integrated Features | Insurance Needs

Adding a Multi-Unit Property

Rentec Direct can accommodate any number of units regardless of the property type.

In your Rentec Direct account:

1. Click on Properties
2. Click on +Add A Property
3. Complete Property Identification details
4. Complete Rental Details (These details will automatically be added to each subunit)
   1. Check the Multi Unit Property box
   2. Indicate How Many Units (occupiable units, not including the Main Property) 
   3. Using the dropdown, select the Property Type
   4. Default Rent - If all units have the same rent, enter the amount here to auto-fill in each subunit. Otherwise, leave 0.00 at default and set the rent amount for each subunit.
      
      Note: Rent amount can also be entered per tenant as they are moved in
   5. Security Deposit option
   1. Default Security - If all units require the same deposit, enter the amount here to auto-populate to each unit. Otherwise, leave at default 0.00 and set the Deposit amount in each subunit
   2. Click the Enable Security Deposit Insurance link, If you are allowing applicants/tenants to utilize this option. (The Default Deposit will no longer show)
5. Managers & Owners - For PM clients information entered will auto-fill in subunits
6. Financial - Information indicated in this section will auto-fill in subunits and determine how financial transactions are routed. Income and Expense transactions will automatically post to the correct accounting ledger. Settings can also be changed individually if you prefer
   1. Property Reserve can be set to your preference and will not auto-fill in subunits
7. Fee Structure - For PM clients information entered will auto-fill in subunits allowing you to establish management, placement, and other fee parameters that will apply to all subunits
8. Click on Update Master Property

Defining Each Subunit

Once you create your main property, it's time to define each unit before you are able to place a tenant into that unit.

In your Rentec Direct account:

1. Click on Properties
2. Find your Multi-unit property and click on Add subunit (You will see a number indicating how many subunits still need added)
3. Enter the Property Identification details
4. All other information will be auto-filled if the information was entered in the Master unit. Enter information that may vary per unit
5. Click on Add Subunit

• Be sure the default income and expense accounts are indicated to ensure financial transactions are posted to the correct bank account
  
• If you collect management fees and they weren't defined on the main property, define them here prior to placing a tenant into the system. The system does not retroactively change or post management fees. (If this setting is not configured, management fees would need to be manually posted) 

Learn more about: Automated Management Fees