Add Properties

Adding properties is a simple yet vital process to setting up your Rentec Direct account. 

Important NoteThe 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.  

Add Properties

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 setup, the flow of transactions across tabs and ledgers, and forms and reports.

In your Rentec Direct account: 

  1. Click on Properties
  2. Click on + Add a Property 
  3. Under Property Identification
    1. The Nickname will display across the software and in reports. 
    2. The address is used across the platform and is required for online applications, syndicated marketing, online rent payments, etc. Begin entering the address and select the verified address from the list.
  4. Under Rental Details
    1. Check the box to indicate Multi-Unit Properties
    1. For Multi-Unit Properties, indicate the number of Units. When viewing your property list, you will see an indication of how many units are left to configure. Auto-populating default information for the subunits will save you time.

      More information about subunits can be found here: Multi-Unit Property
  5. Under Managers & Owners (This option will be available for PM clients only)
    1. Using the dropdowns, select the designated manager for each function and the Property Owner

      More information about adding managers can be found here: Add Property Managers
  6. Under Financial
    1. Indicate the Default Income bank account and Default Expense bank account
    2. Payable To (for PM clients) select who the statements should indicate to make checks payable to
      1. Enter the Default Rent and Default Security before placing a tenant into the property
    3. Property Reserve 
    4. Renter's Insurance Required indicate the amount of insurance tenants are required to have
    5. Property Insurance indicates your policy information for tracking purposes or click the Need a landlord policy link to get a quote from Rentec Directs integrated partner Steadily
  7. Fee Structure (This option will be available for PM clients only and allows you to establish the parameters of management and placement fees) 
    1. Category defaults to 6100 Management Fee
    2. Indicate the Management Fee structure for that property
    3. Placement Fees category defaults to 6150 Commissions
    4. Indicate the amount of the Placement Fee to post upon moving in a tenant 

      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 calculate and post those fees automatically, 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
  8. Click on Add Property
  9. The Marketing Info page for the property will automatically pop up, and you can complete it now or at any time when you are ready to market your properties.
  10. Click on Save Changes when complete or to exit the page 

    Learn more about Marketing Your Rental Through Online Listings 
System NoteThe 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
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