Owner Contribution | Multiple Properties (Legacy)

This help article contains instructions for the Legacy Version of Rentec Direct. More information about the latest version of Rentec Direct can be found here: The Remodel | Rentec Direct’s Newest Software Update

When managing a portfolio of properties for an owner there may be occasions when one property needs an owner contribution to cover a negative balance. A streamlined system is available for providing owner contributions to properties with a negative balance as you process your standard owner distribution. 

If you are new to owner contributions, more information is available here: Owner Contributions

Additionally, information on owner disbursements can be found here: Pay Owner Disbursements (Owner Distribution)

Owner Contributions for Multi-Property Owners

Instead of asking an owner to mail a check to cover a negative property balance, these instructions are designed to allow the system to offset that negative balance by transferring funds from a property ledger within their portfolio with a positive balance. 

Choose the Default Owner Contribution Category

Before processing the first transfer you will need to choose a default owner contribution category for this type of transaction. 

In your Rentec Direct account: 

  1. Verify you have an owner contribution category created. 

    Instructions for creating new categories can be found here: Setting Up Categories (Chart of Accounts)
  2. Then proceed to Settings.
  3. Click Accounting Defaults.
  4. Choose the Default owner contribution category.
  5. Click the Save button. 

Post an Owner Contribution During a Disbursement

In this process, while creating a payment for an owner with multiple properties, funds can be transferred from a property with a positive balance to cover the negative balance on another property. 

In your Rentec Direct account: 

  1. Click on Accounts
  2. Click the Pay All Owners option. 
  3. Click the checkbox to choose the owner.
  4. Click the blue arrow to display all properties for that owner. 
  5. In the Amount Due column, enter a negative dollar amount on the property line with the negative balance.

    : The amount you enter will be deducted from the positive amount available and transfers that amount to the property with the negative balance. 

  6. Proceed with any other owner disbursement changes.  
  7. Click the Submit Payments button when ready to process. 

Tip: For a real-world example, check out this Rentec Direct blog article here: Simplified Owner Contributions for Owners with Multiple Properties

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