Rentec Direct users?

21 Replies

I'm looking into some new property management software! I currently use TenantCloud, which I think works pretty well for self-managing DIY landlords, but it's not meeting the needs of my property management anymore (I manage close to 70 units). I'm pretty interested in Rentec Direct, and I'm wondering if any professional property managers out there use it, and what your thoughts on it are!

I specifically need really user friendly accounting features (including ability to sync with quickbooks and print checks directly from the site/software), customizable online application, and online rent-pay as an option (hopefully with free or very cheap ACH). 

We have been using Rentec Direct for a little over a year and really like it. We have 30 units in 7 different entities if including personal name ownership.
We are still learning a lot of the features. We are working on getting our finances set up in it so we can switch over completely in 2020. We currently use Sage Accounting as that is what we use for our 'day job'.

@Jessica Hunt @Jeffrey Huber @Daniel Dietz

Hi guys, As I was researching Rentec, I came across your post and want to open it back up. I really liked the product. Have you guys all been happy with it now that some time has past?

IS the balance sheet still an issue?

Any other gotcha's

I am looking to move from using QuickBooks and manually running ACH to a product such as this, with the added ability to track any maintenance items, etc. I manage 19 units

Vincent

We do not use the Balance Sheet, we have our tax guy keep track of all of that. I do beleivethey have improved it though. Give them a call, they are usually very helpful in explaining things.

We have just this year started doing our accounting in Rentec. Before that we used our 'day job' system which is Sage, but it is way overkill for rentals and doesn't give us a lot of property specific reports either.

Dan Dietz

Originally posted by @Vincent M. :

@Jessica Hunt @Jeffrey Huber @Daniel Dietz

Hi guys, As I was researching Rentec, I came across your post and want to open it back up. I really liked the product. Have you guys all been happy with it now that some time has past?

IS the balance sheet still an issue?

Any other gotcha's

I am looking to move from using QuickBooks and manually running ACH to a product such as this, with the added ability to track any maintenance items, etc. I manage 19 units

Vincent

 If I remembered correctly, I tried their demo and balance sheet isn't there. That's why I use a custom accounting software for my clients. The whole Balance Sheet and Profit & Loss Statement. These are the main financials for any investors. 

I strongly suggest to have a Balance Sheet you can keep track of and then also check with your CPA, this way you always have a snapshot of what your company looks at any given time. Your CPA probably won't keep your books updated until after year-end.

We use Quickbooks for balance sheets and accounting right now. I am looking for a way to automate the ach payments. An added bonus would be tracking the maintenance requests. I did a demo and liked the product.

@daniel dietz..... one confirmation I would love is the pricing. I was quoted for 19 units @ 45/month. Is this a flat $45/month or $45 per unit per month? 

@Vincent M. that sounds right, for a TOTAL price, but confirm with them. We have 29 units and I think that is right around what we pay. We may be grandfathers in at a little lower rate per unit since we have been with them for a few years.

Dan Dietz

Originally posted by @Jessica Hunt :

I actually ended up going with a different software, so I probably won't be much help here!

 What did you end up using?

@Shea Spinelli  

I really like AppFolio! I feel that it’s very robust and could handle all of my needs. I’m VERY unfamiliar with its accounting capabilities, to be honest, because we have an accountant that handles all of our books. However, it appears to be really well equipped for accounting from my exploration of the software. 
I love the ability to text tenants right from the software, to pay owners via eCheck, and the structure of how the maintenance requests come in. It’s great!! We manage 70 units (moving up to 100 this spring), and I think the transition will be very smooth for the new properties we are about to begin managing. It’s a great software! 

@Shea Spinelli No problem! They are pretty good about scheduling demos! I will say that I had a difficult time getting a person on the phone in the beginning a few times to get issues fixed, but I haven't had that trouble in a while. :) It seems best to e-mail them and request a phone call if you want to speak to a person about something. 

@Jennifer Donley I received an automated email stating, thanks, but no thanks. I'm at 20 and they'd love to have me at 50. I noticed there was a minimum of $250/month and was willing to pay the minimum. I'll try to call and make sure. But, it seems you're right! 

How do you like Rentec Direct? I originally started there, but the UI didn't look clean.

Thank you.

I work for a medium sized firm in California. We switched from Yardi to Appfollio. The switch happened before my employment began, so I don't know how Yardi operates or why we left, but Appfollio is fairly simple to use. Everyone from our maintenance tech to our accountants access it without any issues. They work with rental owners with 50+ units primarily. Not sure if they change that.