Any reviews of RentRedi?
Josh BuchananPro Member
Rental Property Investor · Sylva, NC · Member since 2019 · 37 posts · 26 votesI currently have 3 units, with 2 more coming soon. I am looking for something geared toward smaller self managing landlords. Looking for the ability to list properties, receive applications, screen tenants, receive rent, and have a maintenance portal. The website looks like it covers all of this, but I haven't seen a lot of talk about it. More people seem to be using TenantCloud or Cozy. Just wanted to see if there is any feedback either way. Thank you.
I've been comparing these for a while, pretty much my favorite topic. I think being able to get your payments promptly and professionally is important for a landlord, and over the past few months have tried pretty much every platform. What I found was:
Cozy: Certainly the biggest and most popular platform. Best for a user with 10+ properties who wants a 1 stop shop. A little tricky to use, particularly if your just looking for 1 thing like renters insurance or payments. (https://cozy.co/)
RentRedi: More tailored to <10 property manager. Great service, offers everything on one platform just like Cozy ( https://app.rentredi.com/)
Rent-Remind: Simplified platform for <10 properties. Sets up automatic requests for rent, and is a fairly bare bones but SUPER easy to use system. Doesn't do everything in one place, just very good at rent collection. (https://rent-remind.com/)
Tenantcloud: Yet another jack of all trades app. Same as Cozy or RentRedi, but seems a little more challenging to use and results in lots of spam email. I've heard bad stories about it, but never had bad experiences myself. (https://www.tenantcloud.com/)
I hope someone finds this helpful, or is also a rent-collection geek!
I have been using RentRedi for 4 months now with our 9 unit apartment building. I would NOT recommend it for the following reasons:
1. No adaptability for pre-screening questions - remember that book that random bearded dude wrote on about managing rental properties. Remember that section on pre-screening and application processes/questions. Yea, RentRedi lacks the ability to even get the prior two landlords without having to use an external form.
2. Application process - see above comments
3. Notifications/Communications - If a tenant submits a maintenance request, there is no linked communication route to that request. You can send a push notification, but it does not link to the maintenance request
4. Fees - they charge your tenant quite a bit if they do not use ACH
5. Fees - oh, and did they mention they charge YOU the fees to? Yes, they do, even though they don't say so. Just got my 1099 for last year and those fees (to which we never received) were included (even the $1 ACH fee they collect). Want to appropriately write them off as expense? Good luck getting a W9 from them.
6. Lease - yep, you will need docusign or another software as well. Their "lease" signing is not actual signing, it is just a confirmation email. So, add that expense to your list as well
7. ACH and the WTF that goes with it. Your tenants can set up automatic drafts for their rent payments, but make sure they do not set them up for the due date, as they will not process. Why? Who the frank knows. Ed (owner) finally stated that it is because payments are processed the night/morning AFTER the date in which the tenant picks. HOWEVER, they do not tell anyone that, so your tenants and you will be thinking WTF happened to their automatic payments.
So, if you are not concerned about tenant screening, tenant application, lease signing, tenant payments, or being overbilled to the IRS for funds you did not receive, then RentRedi is the software for you! They even have Latchel, to which I have not used, nor will not, as I am more concerned about basic landlord responsibilities over fluffy useless third party crap-ola.
How does rentredi handle late fees?
I agree that I'd look elsewhere. This company might be a good option one day, but not now. Their business still needs to grow up. They have a payments 3rd party website, but it's hard to find the link from their main website. Then they give you a random login/password for that site that you'll never remember and can't change. They don't seem to realize that this is a financial organization. If I have a problem with my newspaper delivery or something equally non-critical, I'd like an answer or fix now, but if it's later today or tomorrow, not a big deal. RentRedi is dealing with MY MONEY! If I have a problem, I want it fixed now. Going to their customer service call back calendar shows the 1st appointment when they will contact you by zoom is in 4 days. 4 days??? Their website has a very awkward user interface that is challenging.
When this company matures, I think it will be a very good option. They just seem to be trying to add too much now and not doing the basics well.
That said, if everything goes perfectly with no issues, changes, or questions, my main gripe is that it takes a week to get my money in my account. They get an ACH from my tenant in their account same day, but won't do the same into my account.
Add-on: I do like that I can automate my late fees, no partial payments, etc.
@Brigham Pyron Is there another platform you have test and would recommend?
Hi Art, No, we've just recently closed on a beach rental and I'm about to close on another this month. My issues with RentRedi have not risen to the level requiring immediate action. They are functional while frustrating. When I have some free time, I'll research other options that won't cost a fortune for the small guy.
There are only two kinds of reviews on this thread for rentredi. They are awesome or they are the worst. I'm looking to switch from cozy mostly to combine tenant screening, marketing and rent payments. Cozy is notorious in holding your rent for over a week with the free plan. Is it worth switching? Or are there other alternatives for tenant screening and marketing while I continue using cozy?
Yes, I am looking for an online platform to begin self-managing too. About to close on a 10+unit apartment building and my wife and I would like to self-manage as much as possible, as I am local. Cozy has been acquired by apartments.com, and will not let me sign up for cozy, and the functions seem limited. Currently, I am looking at Hemlame for local, I tried to use them for an out-of-state investment property, but the cost with an agent would end up far greater than a full-service property manager.
The dream option would combine all accounting, bill pay, rent collection, provide eviction services, and maintenance coordination outside of normal hours. Some help with leasing would be great!
During the set up process for RentRedi, the software automatically sends out a message to all tenants by email. As the property manager, it concerns me that the software does not allow me to select message timing and verify content of communications that are sent directly to MY tenants.
Therefore, do not input client email addresses in RentRedi until you are prepared for RentRedi to begin sending requests for action to YOUR tenants. Even though I skipped the tenant input and invitation screen, the system still sent out messages after I later entered email address in the tenant data profile.
Do other property management platforms operate in autopilot? Is this a concern for other users?
Hi Beverly! I just wanted to let you know that thanks to your feedback RentRedi released an update that lets you opt-out of sending a tenant an email invite immediately. Thank you, again for this feedback!
Yes, I am looking for an online platform to begin self-managing too. About to close on a 10+unit apartment building and my wife and I would like to self-manage as much as possible, as I am local. Cozy has been acquired by apartments.com, and will not let me sign up for cozy, and the functions seem limited. Currently, I am looking at Hemlame for local, I tried to use them for an out-of-state investment property, but the cost with an agent would end up far greater than a full-service property manager.
The dream option would combine all accounting, bill pay, rent collection, provide eviction services, and maintenance coordination outside of normal hours. Some help with leasing would be great!
Hi Paul, just curious on if you found a software that works well and you recommend !?
As with many here, I've been using a mix of Cozy (now Apartments.com), Stessa, and a few other custom workflows for turnovers that have worked well in the past, but with the takeover of Cozy by Apartments.com I'm now out shopping for better options for my primary, tenant-facing service.
The list of property management suites at Capterra is a decent start, so long as you take their reviews with a grain of salt.
I was drawn to RentRedi for the integration with Latchel, but after seeing an ill-prepared demo of the product this week, only to be stood up by an appointment booked with Latchel itself, I'll be taking my dollars elsewhere. While the RentRedi's loaded with various toggles/buttons and affordable given the all-you-can-eat pricing, the interface is still very elementary and lacking in usability/design, which is often overlooked as a key determinant of whether your team actually adopts and fully leverages powerful management solutions like these. RentRedi looks more like your run of the real estate management database that's been given an Apache/server front end to the web.
A few others have called out Hemlane, who appear also quite responsive here on BP and also offer a degree of repair/work order management baked right into their middle/upper tier offerings (versus having to bolt-on as with RentRedi + Latchel).
As a smaller, self-managed landlord I think solutions that offer that kind of scheduling/logistics framework are solving for one of the most long-standing self-managed challenges we've had for years: how to scale and systematize operations when you're are landlord or PM out there hustling for your next deal.
Additionally, I've been spending a lot of time evaluating condo / HOA management solutions and accidentally stumbled on ManageCasa, which offers a free trial and < 3 unit free tier that has allowed me the time to get in, kick the tires, and really appreciate their attention to detail and broad feature set that adapts to each unique industry sector. In particular, the ability to auto-sync and categorize bank transactions (similar to Stessa), easily track expenses against budgets, and streamline lease creation with lease templates is quite nice. Given the sad state of affairs in HOA management software, I'll probably go with them for my HOA, with more research needed for the general PM suites.
Interesting to see how this thread has morphed over the period of time. I was starting to get interested in rentredi but the newer replies is making me question that decision. Any recommendation for smaller property managements (<10 units).
I researched them and prefer apartments.com. They are cheaper for landlords and tenants. Also important to start using sooner rather than later stessa.com (for propertfolio mgmt) and hoah.live an HOA aggregator (in case you own properties in HOA communities).
@Rodrigo Dalla Verde
Been using Hemlane now for 3months. The tenants enjoy using the interface, it is simple to communicate with them as a whole or individually, collect rent payments and see when they are in transit, offer CC payment options at tenants expense, track maintenance request, share documents, and lease the property.
Short comings are their financial portion. I tried to track finances on both Stessa and Hemlane. I have up on tracking on Hemlane… Stessa is 100x greater for this aspect. They try to integrate inspections, and the closing docs on their platform and doesn’t work well. Also no credit reporting, so I signed up for Landlord Credit Bureau at my expense.
Hope this helps, for now I’ll be staying with Hemlane.
Rentredi is a good software but BEWARE if you sign up for automated bill pay, they will charge your account if you do not cancel prior to the renewal and they will not refund your payment even if you request it the same day they pulled the payment from your account. BEWARE!!!
Hi @Damien Hart, Jumping in here to help -- I looked into your account and it looks like your account hasn't been charged in 8 months (since February)! If you're seeing a charge, shoot me a direct message with the email on your account and I'll be sure to help out :)
Also, although our official refund policy is consistent with the industry standard of not refunding after purchase, we actually do often break that policy as long as someone reaches out the same day.
I use Rentredi for my commercial rentals and it sucks! You can't easily determine whom has paid and who hasn't. They batch the deposits together and you have to go deep into the program to determine which tenant made the payment, that was deposited into your account. I have yet to have one late charge added to a tenant. You can't list your commercial rentals on their website, it is definitely geared for residential rentals. I was using Cozy and it was super simple and easy to navigate. The only reason I left Cozy is because when it switched to Apartments.com they dropped all commercial rentals. I will be switching to a new program.
Setting up my first rental for college students. Thanks for the discussion regarding RentRedi. I think it's going to be the best way to manage one unit with 4 renters (4 individual leases). The fact that RentRedi only allows rent payment from a phone isn't an issue with the demographics of my renters. I also love the fact that I can help them build credit by reporting their rent to credit agencies.
Hi, I have been using Rentredi since last December 2018. They are GREAT. They have always helped me fast and have answered some of the same questions I have had multiple times with out getting upset. Their program is simple to understand for the most part. I HIGHLY recommend them.
Derek Schronk
Derek are you still with RentRedi if so do you mind sharing the Referral code
Setting up my first rental for college students. Thanks for the discussion regarding RentRedi. I think it's going to be the best way to manage one unit with 4 renters (4 individual leases). The fact that RentRedi only allows rent payment from a phone isn't an issue with the demographics of my renters. I also love the fact that I can help them build credit by reporting their rent to credit agencies.
I have a similar situation in where I have a home with three separate leases how do you feel it's working for you also do you have a referral code I could use for RentRedi ?
I currently have 3 units, with 2 more coming soon. I am looking for something geared toward smaller self managing landlords. Looking for the ability to list properties, receive applications, screen tenants, receive rent, and have a maintenance portal. The website looks like it covers all of this, but I haven't seen a lot of talk about it. More people seem to be using TenantCloud or Cozy. Just wanted to see if there is any feedback either way. Thank you.
The worst platform ever. I tried it for a week and my property didnt get posted to the rental sites like they said and they charged me 3 times for a zillow listing that was not there. I had to speak to them for 2 weeks to get it fixed. Then I removed my account and they are still charging me. I had to cancel my credit card at CITI just to stop the fees. They are the worst !!
Rentredi sucks big time. it is not user friendly at all. It tries to do too many things and poorly at that. If it would concentrate on rent collection only and do it well, it might be okay. Its dashboard is so cluttered, it hard to see who has paid and who hasn't. I've been trying to have one tenant do the autopayment for 8 months now and it has only worked one time. I had to switch from erentpayment since Rentredi bought them and got roped into a year membership. As soon as the year membership is up, I'm leaving.
I agree I used RentRedi before the Bigger Pockets endorsement. I had struggles the did some updates and I was excited to try them again. I feel like they get 90% of your problems solved to create 10% new problems. I have struggled to get my money. Its been almost 2 weeks and I still dont have my rent payments, they are just sitting somewhere other than my bank account and the support has been horrible.
Just remember you get what you pay for. And there are far better "free" solutions on the market.
I agree I used RentRedi before the Bigger Pockets endorsement. I had struggles the did some updates and I was excited to try them again. I feel like they get 90% of your problems solved to create 10% new problems. I have struggled to get my money. Its been almost 2 weeks and I still dont have my rent payments, they are just sitting somewhere other than my bank account and the support has been horrible.
Just remember you get what you pay for. And there are far better "free" solutions on the market.