Paying Yourself Property Management Fees

Rentec Direct makes it easy to pay yourself management fees or record that funds were transferred to another bank account at any time.

Most clients don't issue a physical payment to themselves. Instead, management fees are typically withheld from the property's monthly income, and the remaining balance (after expenses) is disbursed to the property owner.

Pay Yourself a Management Fee

In your Rentec Direct account:

1. Click Banking
2. Right-click the bank account you want to pay from and select Pay Property Manager
3. Select a Date Range
4. Choose the management fees to include
5. Click Next
6. Enter the date, payment type, and check or reference # if needed
7. Review the amount
   1. If the amount is incorrect, click the trash can icon to delete the draft

   2. Review the Property Manager Rents, make adjustments, then restart the payment

      Tip: A breakdown of the management fee is automatically attached to the transaction, but you may want to attach the Property Manager Rents report for reference.

8. Post Expense

Tip: A detailed breakdown of the payment is automatically attached to the ledger transaction. You may also want to attach the Property Manager Rents report for additional reference.

Pro tip: To pay yourself by ACH, add yourself as a  Payee and select yourself from the Payee dropdown when issuing the payment.

Record a Transfer to a Different Account

If you moved the funds between bank accounts instead of issuing a payment, you can document the transfer.

In your Rentec Direct account:

1. Click Banking
2. Right-click the bank and select Transfer funds
3. Select the date the funds were physically transferred
4. Select the Credit Account (the account the funds were moved to)
5. Enter a memo (optional)
6. Save Changes

View the Property Manager Rents Report

A quick review of the Property Management Rent report prior to paying out property management fees can help prevent payment errors and keep your accounting accurate.

In your Rentec Direct account:

1. Click Reports
2. Under Miscellaneous, click on Property Manager Rents
3. Choose the Report Period
4. Check Include Myself if you are indicated as the property manager

5. Click Submit

   

Frequently Asked Questions

What if I need to change something?

If the amounts shown in Pay Property Manager are incorrect:

• Delete the draft using the trash can icon
• Review the Property Manager Rents Report
• Make changes to ledgers or transactions as needed
• Review the report for accuracy and start the payment process again

How can I see which property fees are included in the payment?

Each paid management fee includes a detailed report showing the individual transactions.

In your Rentec Direct account: 

1. Click Banking
2. Click the bank balance to open the ledger
3. Enter a keyword (such as 6100 or management fee) to narrow your search
4. Click the edit (paper/pencil) icon to view the transaction
5. Select View Report

You can easily print, save, or email the report using the quicklinks at the top.

Can I change the default management fee category?

Yes, you can update the default category at any time.

• The new category applies to properties added going forward
• Existing properties must be updated individually for the change to apply Edit Property Profiles.
• Create a new category if needed

To change the default category:

In your Rentec Direct account: 

1. Click Settings
2. Under Financial, select Accounting Defaults
3. Under Financial Preferences, use the dropdown to select a Default property manager payment category
4. Save Changes

Tips for Accurate Payouts

Before paying out or transferring management fees:

• Review the Property Manager Rents Report
• Make corrections as needed
• Attach the final report to the payout transaction for reference

After payment:

• Print a Category Ledger Report for the management fee expense categories
• Confirm the totals match your payments

Important

Once a management fee has been paid out, it cannot be deleted. Always review reports carefully before issuing payments.