RentingWell - Freshbooks for Property Managers

18 Replies

I've searched the forums previously looking for a property management website for someone with just a few properties, but most of the ones I see are priced (and designed) for larger property managers. I found one today- RentingWell (just google it) - that I think will fit what I need at the moment. I am just getting started, but I will report back to let you all know how it works. Anyone else tried it? It was touted as "Freshbooks for Property Managers" which is actually how I stumbled upon it in a search.

does this create invoices for rents?

Originally posted by @Bonnie Rakes :

does this create invoices for rents?

 When you have a lease contract why is a invoice necessary?

You know what, I didn't end up using it. I don't remember exactly why, but I ended up going with 

Rentec Direct instead, which has both management as well as accounting and autopay abilities. I really like it.

Hi @Angie B.

Is the accounting software provided in Rentec Direct enough, or do you also use Fresh books or Quickbooks?

Hey Angie, welcome to the club.  I've been a Rentec user for....  probably going on 5 years now!  Love them and they are always improving the product.  

@Jason Hartley or others that use Rentec Direct,

Does Rentec Direct cover ALL of your needs, on BOTH the 'accounting side' and the 'property management side' of things? What would be ideal for us small operators with say 3-25 units is to have just ONE place to go to for all of those kinds of needs. 

I know from my 'day job' that using multiple apps for closely related tasks is a real time hog :-)

Thanks, Dan Dietz

@Daniel Dietz  Hi Daniel, my wife and I have 5 apartments and we use a site called TenantCloud.  They cover both the accounting and property management sides of things.  I believe you can use up to 75 units for free with them.  Their website along with their mobile app is very easy and friendly to use. 

@Daniel Hyman  Hi Daniel, TenantCloud does not charge a fee to the tenant.  There is also a portal that you can share with your tenant and you can store documents of your choice.  We've started storing leases, security deposts, and move-in/out checklists so it's visible for everyone.  This is also free.  There is also electronic rent payments through Dwolla and Paypal.

I want to say that they make their money through tenant screenings but I have not looked into this aspect.  I do my tenant screenings and rent collection through Cozy.co.

@Daniel Dietz - Yes, Rentec takes care of all the accounting.  I turn in the 1099 reports to my CPA at the end of the year and we're done.

@Ryan Canfield - I've seen so many companies like that popup over the years.  They are in a land grab right now spending investors money, but they will start charging for it when the investors demand they turn a profit.  A company can't run a negative forever and investment money eventually runs out.

@Jason Hartley  I have used TenantCloud for almost a year now.  They make money by charging service vendors like renters insurance companies, plumbers, handyman and the such.  They are adding in some great things.  I even track my fridge, it's warranty and when it was last serviced in it.  I assume soon I will be able to buy a fridge on it, but have been told it is free for landlords and tenants forever.  Reviews.com did a review of 51 companies and they were #3, while the top two you have to pay for.  

Cool Ben, I'm glad you found something that works for you and I hope you are right that it'll be free forever. 

@Jason Hartley

Hi Jason. I saw this thread and had a question. I just started using Rentec  as well and only have a couple units. I love the customer support. Do you use it for your bookkeeping/accounting needs also, though? I've been trying to decide between Wave, QB online, or freshbooks and didn't even think about using RD for accounting until I saw this thread. Any insights would be appreciated. 

@Jason Hartley

I just noticed you do use RD for 1099s. Do you do Schedule Es as well?