Adding properties is a simple yet vital process to setting up your Rentec Direct account.
Adding a Property
Important Note: 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. Prior to adding your first property, we recommend you follow the order on your Welcome Screen and review the Quick Start New Client Welcome Kit.
In your Rentec Direct account:
- Click Properties.
- Click Add a Property.
- Enter the details for your property
- The Nickname is the value that will display across the application and in reports. The address is used across the platform and is required to use online applications, syndicated marketing, online rent payments, etc.
- 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 and save you time by auto-populating those subunits information.
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, the 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 Add Property when finished.
Note: You will then be taken to Marketing Information which can be completed now or at any time when you are ready to market your properties.
More information on marketing can be found here: Marketing Your Rental Through Online Listings
Additional information about custom fields can be found here: Custom Fields