Multi-Unit Property

Multi-Family properties such as duplexes, quadplexes, and apartments are easy to enter into Rentec Direct property management software and automatically prepares your account to set up each subunit. Most information entered in the Primary unit will auto-fill in subunits, saving you setup time and ensuring accuracy.

Insurance requirements can easily be added as new properties are added to your Rentec Direct account. Learn more about integrated partners for Renters Insurance, Landlord Insurance, and Security Deposit Insurance here: Integrated Features | Insurance Needs

Adding a Multi-Family Property

Rentec Direct can accommodate any number of units regardless of the property type.

In your Rentec Direct account:

1. Click on Properties
2. Click on +Add A Property
3. Complete Property Identification details
4. Complete Rental Details (These details will automatically be added to each subunit)
   1. Check the Multi Unit Property box
   2. Indicate How Many Units (occupiable units, not including the Main Property) 
   3. Using the dropdown, select the Property Type
   4. Default Rent - If all units have the same rent, enter the amount here to auto-fill in each subunit. Otherwise, leave 0.00 at default and set the rent amount for each subunit.
      
      Note: Rent amount can also be entered per tenant as they are moved in
   5. Security Deposit option
      1. Default Security - If all units require the same deposit, enter the amount here to auto-populate to each unit. Otherwise, leave at default 0.00 and set the Deposit amount in each subunit
      2. Click the Enable Security Deposit Insurance link, If you are allowing applicants/tenants to utilize this option. (The Default Deposit will no longer show)
5. Managers & Owners - For PM clients information entered will auto-fill in subunits
6. Financial - Information indicated in this section will auto-fill in subunits and determine how financial transactions are routed. Income and Expense transactions will automatically post to the correct accounting ledger. Settings can also be changed individually if you prefer
   1. Property Reserve can be set to your preference and will not auto-fill in subunits
7. Fee Structure - For PM clients information entered will auto-fill in subunits allowing you to establish management, placement, and other fee parameters that will apply to all subunits
8. Click on Update Primary Property

Defining Each Unit

Defining each unit prior to moving in a tenant will create time-saving defaults.

In your Rentec Direct account:

1. Click on Properties
2. Find your Multi-Family property and click on Add subunit (You will see a number indicating how many subunits still need defined)
3. Enter the Property Identification details
4. Enter information that may not have defaulted from the Primary unit.
   
   Example: If rent or deposit varies on each unit, you will want to update that information
5. Click on Add Subunit

System Notes:

• Be sure the default income and expense accounts are indicated to ensure financial transactions are posted to the correct bank account
  
• If you collect management fees and they weren't defined on the main property, define them here prior to placing a tenant into the system. The system does not retroactively change or post management fees. (If this setting is not configured, management fees would need to be manually posted) 

Note: Learn about: Automated Management Fees