Owner Contributions

Receiving and documenting Owner Contributions in Rentec Direct property management software is easy. 

Owner Contributions are most commonly received to pay for unexpected expenses. Owners can conveniently contribute funds by ACH through their owner portal or may provide a physical payment to you directly.

Notes: Funds can be transferred between 2 properties owned by the same owner client; click here for more details Transfer Funds Between Properties

Set Up an Owner Contribution Category

You will want to create a contribution category for accurate bookkeeping. 

In your Rentec Direct account: 

1. Click on Settings 
2. Under Financial, click on Income & Expense Categories
3. Click on +Add Category
4. Enter a Description such as Owner Contributions 
5. Set the Type as Other since the contribution does not influence income or expenses, such as balance transfers
   
   System Advice: Category type Other will not appear on income/expense reports.
6. Set the Class option as Standard
7. Add a Reference Number or, if you wish, allow the system to create a category reference number for you
8. Click on Save New Category 
9. Then click on Settings
10. Under Accounting Defaults, change the Owner Contribution category from the default 0000 Uncategorized to the category you created above.
    
    

    

11. Click on Save Changes 

Verify Owner is Setup for ACH Transactions

Owner clients can also make a contribution via ach. If you've already set owners up for ach transactions and enabled the portal, they can log in and make contributions.

If Owner profiles need to be updated, there are just a few quick steps.

In your Rentec Direct account:  

1. Click on Owners
2. Right-click on the owner and select Edit Owner
3. Enable the Owner Portal
4. Under Payment Info
   1. Indicate Payment Method ACH
   2. Using the dropdown, select the Bank Account funds will be deposited into
      Note:  Bank Account must be a merchant account
   3. Enter the Bank Routing # and Bank Account #

How do Owners make an ACH Contribution? 

Owner clients can make contributions by ACH through the Owner Portal.

In the Rentec Direct Owner Portal: 

1. Click on Statement 
2. Click on Make Contribution
   
   
   
3. Select the Property funds are to apply to
4. Indicate the Amount
5. Click on Process Contribution

Post an Owner Contribution Received Manually

Posting an Owner Contribution received manually is the same process as posting income.

In your Rentec Direct account:

1. Click on Properties
2. Right-click on the Property receiving the funds and select Post Income
3. Enter payment details
   1. Select the Owner Contribution category
   2. Leave the Tenant as None
4. Post Income