RentRight – Property Management Software
Powerful, Easy to Use, Reasonably Priced
by Steven Graham
Wow, I finally feel like I can become totally organized with
my property management needs and at a very affordable price. Although property
management software is not new, it is usually expensive and takes a while to
learn. RentRight is the complete opposite. RentRight offers 6 different levels
of products for management of up to 10, 25, 50, 125, 250 and unlimited units.
The prices range from $79.99 for RentRight 10 to $1,699.99 for RentRight Pro. I
tested RentRight 10 and it was installed and running in less than 5 minutes.
How RentRight Works
You start with the first building by clicking the building icon and entering the address and number
of units. This is all the information you need to get started. Unlike other
software that requires complete data entry before operational, RentRight allows
you to go back as necessary and input additional information such as square
footage, market value, mortgage information and notes on unit condition,
contents and more.
Now that your first building is set up, you can add your next
building and repeat the steps as with the first. After inputting address and
number of units, you can now input the tenants' information. RentRight
provides specific entry fields for everything I could think of including spaces
for basic contact information, rent, employer, vehicle, incidents and a note
page for miscellaneous information. This page is laid out with file tabs for
quick access to all your data on each tenant. As with the building icon, you can
go back anytime to re-enter more data on your tenants as the information changes
or is gathered. This is a strong feature of RentRight because it does not take a
programmer to update any of the information. It can literally be updated in
seconds with a click of the mouse. Of course, to fully utilize all the reports,
complete information is necessary.
Features: more specifically.
RentRight is packed with many features that enable the user
to manage his or her units with the utmost speed and ease. The best way to
really see how these features work is to download the free demo on RentRight’s
web site.
For a quick snapshot, here are some that I think would be used daily:
- Reminder System: This system alerts managers of upcoming
lease expirations, past due rent, tenants with late rent, tenants with unpaid
balances, incidents, and tenants whose leases will soon expire. You can view
these lists or print as needed for the file or daily operations.
- Organize Tenants: Here managers can run reports on just
about any bit of information regarding their tenants. This includes:
interactions with tenants, complaints, letters to tenants and disputes. The
basic information includes personal data, Social Security number, personal
notes, move in and move out dates, security deposits and much more. You can also
track prospective tenants, keep a list of rental applicants and record details
about them. This same information can be kept on inactive tenants.
- Organize Buildings and Units: Buildings can be single
family homes, or large complexes. You can easily set up your buildings and
units. No need to remember Property ID#s, just find them listed by description
or address from the drop down list. You can combine different kinds of
properties. For example, a trailer park, a few duplexes, a commercial property,
and storage units, all can be combined on the same software. You can keep simple
or detailed records about each unit and building. Fill in only the folders that
you want.
Here are a few of the things you can record: appliances and
their repair records, warranty, model number, the unit's contents,
improvements, roof composition, driveways, landscaping, wall \ floor coverings,
square footage, laundry rooms, and more. The manager can also input more
information on classified ads, mortgage information, insurance information, and
even run profit and loss reports for each unit or building.
Organize Income: Managers can track rent, late fees,
parking, laundry, furniture rentals, and pet fees. Instantly print receipts, or
invoices to all or late tenants. Categories can be customized.
Organize Expenses: RentRight expense categories are set
up for you with Schedule E tax categories. You can change the categories for the
way you do business or you can have sub-categories of other categories.
Networking / Site License: RentRight Pro (allows for
unlimited number of rental units) ships with networking capabilities along with
check writing and 1099 printing and sells for $1,699.99. Additional seats are
added at $249.99 per seat. The other RentRight versions that top out at 10, 25,
50, 125 and 250 units can be network enabled for $499.00. The check writing
module and the 1099 printing can be added separately for additional fees.
The bottom line is that RentRight is packed with so many
features, any property manager or management company will have no problem
effectively managing their rental units. I have seen other property management
software for double and triple the price. Do not be fooled by RentRight's
reasonable price. It is powerful, easy to use and easy to get up and running.
Visit www.rent-right.com
for the free demo or call them at 800-RENT-065 for more information. You will
not be disappointed!
As Seen in Landlord Review, P.O. Box 992875, Redding CA 96099-2875