Add Owners

The PM version of Rentec Direct software offers comprehensive tools for managing an owner's property portfolio, including daily financial activities, contributions, disbursements, 1099s, detailed reports, and access to their portfolio through the owner portals.

Pro Tip: If you are new to Rentec Direct property management software, it's essential to complete the Basic Setup Steps in order:

1. Program & Accounting Defaults
2. Banking
3. Owners (PM accounts)
4. Managers (PM accounts)
5. Properties
6. Tenants

Important Notes:

1. The Owners Portal must be enabled before they can log in to view their property information 
2. Rentec PM was designed for one ownership entity per property. The owner portal, reports, statement, and 1099 features are tied to this designation. 

Adding an Owner

It's easy to add Owners to your Rentec Direct account as your company grows. Few fields are actually required; however, it is recommended for record-keeping to fill in all known fields.

Pro Tip: As you enter information, hover over the "?" for more details.

In your Rentec Direct account: 

1. Click on Owners
2. Click on + Add an Owner
3. Owner Details enter
   1. Company—If a company is entered, it will be reflected on invoices, receipts, and reports along with the owner's first and last names.
   2. Tax ID - Enter the Tax ID # for recordkeeping and tax filing purposes. Using the dropdown, indicate if the ID is an SSN or EIN
   3. First Name, Last Name
   4. Private Notes - Internal notes can be entered here that cannot be viewed by property owners.
4. Contact Info enter

   1. Mobile Phone is required if you want to Send SMS Text Messages to the owner. 

      Tip: Set your software to require a 10-digit phone number in Advanced Program Defaults

   2. Mailing Address - Begin typing the address and select the correct address from the options to ensure accuracy
   3. Email - Your software will verify email addresses to ensure built-in communication features that depend on an email address work flawlessly, including:
      1. Owner Portal access
      2. Email Notifications
      3. Automated Email Notification of Payment via ach (Owner Disbursement)
      4. Weekly or Monthly scheduled Automated Email Report
      5. Sending Email Messages to Owners through the Rentec Direct software
5. Owner Portal - Enables owners to access their property profile, view financial status, reports, and shared files. For accounts with ACH processing access, owners can also choose to allow and make contributions.
1. Important Note: Owner Portals must be enabled before an Owner can log in
1. Enable Portal - Check the box to Enable the Portal
2. Password
   1. Click on the paper/pencil 
   2. Click the circular arrows to create a temporary password or enter a preferred password
   3. Check the box to email the password with login information to the owner
   4. Click on Submit (portal information will be saved with other changes using Save Changes)
6. Payment Info - Information entered in this section is essential for accurate owner disbursement and contribution recordkeeping
   1. Payment Method
      1. Check - If a check is being issued outside of the Rentec Direct software
      2. Print Check - If a check is being printed through Rentec Direct software using the Check Printing feature
      3. ACH Checking - If Owner Disbursements are being issued electronically via ach (merchant account)
   2. From Account - Use the dropdown to select which of your bank accounts owner disbursements are being issued from
   3. Bank Routing # - Indicate the property owner's bank account routing number deposits are to be made.

   4. Bank Account # - Indicate the property owner's bank account number deposits are to be made.

      
      

      System Note: For Rentec Direct accounts that are set up for ach transactions and allow Owner Contributions through the Owner Portal, the Bank Routing # and Account # will need to be entered

7. Custom Info - Add custom fields to store unique information for each owner's profile, which will also be available as a data field in forms and message templates.
   1. To add a custom field
      1. Click on Manage Custom Fields, then +Add Owner Field
      2. Enter a Field Name (this will also be available as a data field)
      3. Check the Searchable Box to make the field searchable using the Global Search Tool
      4. Click on +Add Owner Field to add additional fields as needed

      5. Click on Save Changes

         Click here to learn more about the benefits of Custom Fields

8. Click on Save Changes 

Assigning an Owner to a Property 

1. Click on Properties
2. Right-click on the property and choose Edit Property

3. Under Managers & Owners, use the Property Owner drop-down menu to change this from "No Settings PM (self)) to the newly added owner

   

4. Click on Update Property