RentRedi Overview
RentRedi started in 2016 as a mobile app for tenants to store and share rental documents with landlords. Since then, it’s become a comprehensive property management software platform that streamlines the entire rental lifecycle for landlords and tenants alike. It can handle listing syndication, custom applications, tenant screening, lease e-signing and storage, rent collection, maintenance requests, tenant and team communication, and more.
If you self-manage your rentals and want to move on from disorganized paper documents and endless spreadsheets, sign up for RentRedi today.
What we like about RentRedi
- RentRedi’s platform is simple to understand and navigate, and the mobile app makes it easy to manage your rental properties on the go.
- Starting at $12/month, RentRedi is one of the more affordable property management solutions out there, and with monthly billing options, you don’t need to commit long-term.
- With RentRedi’s partner Chime, you can accept cash payments from renters and still have them land in your bank account electronically.
Pricing
RentRedi has two pricing tiers.
The Standard plan is $12/month if billed annually, $20/month if billed every six months, or $29.95/month if billed monthly. It includes the bulk of RentRedi’s features: listing syndication, custom applications, tenant screening, lease e-signing and storage, rent collection, a tenant portal, maintenance requests, in-app chat with tenants, 24/7 chat support, and phone and email support during EST business hours. Plus, you can add unlimited units and tenants.
The Premium plan is $42/month billed annually and includes everything in Standard, plus a host of premium support features: a dedicated account manager, personalized onboarding, tenant onboarding, issue resolution, escalation management, software training, custom report requests, and expert coaching sessions.
On top of these plans, landlords can pay extra for various add-ons: rental property accounting via partner REI Hub, maintenance and repairs via partner Lessen, and rent reporting to the three major credit bureaus via TransUnion’s ResidentCredit program.
Features
Here are all of RentRedi’s features in more detail:
Rental Listing and Marketing
RentRedi lets you create and publish rental listings on a dedicated RentRedi listing page and syndicate them across Realtor.com, Zillow, Trulia, and Hotpads. Listings are automatically published to Realtor.com for free within 6 hours, but syndicating to Zillow Network sites (Zillow, Trulia, and Hotpads) costs $1.75/day/unit. According to RentRedi, these listings should syndicate within minutes.
You can also add virtual tour links and showing calendars to listings, allowing prospective tenants to explore your rental more closely.
Custom Applications
Invite leads to fill out a 10-question prequalification survey to quickly determine if they meet your minimum standards for income, pet ownership, smoking status, criminal history, etc.
From there, you can also invite them to apply for a rental online. Use a default application or customize your own. Prospective tenants will be able to enter required information and upload relevant documents. Meanwhile, your landlord dashboard gives you an overview of applications by status: pending, accepted, update/change requested, and rejected.
Tenant Screening
As part of each application, you can require applicants to complete a TransUnion tenant screening or request it from them manually after they’ve applied.
Either way, applicants can agree to the tenant screening and pay the $39.99 TransUnion fee within the RentRedi app. The report includes a full credit report, a criminal background check, income verification, and eviction history across all 50 states and Washington, D.C.
Tenant screening is a smart way to avoid problematic tenants later on. According to TransUnion, an eviction costs an average of $3,500 and can take 3-4 weeks.
Lease E-Signing and Storage
RentRedi makes it easy to upload, share, e-sign, and store leases online. Simply upload a lease to the platform and request a signature from your tenant. They’ll be able to provide a legally-binding e-signature with a single click and a photo of themselves with their government ID. All of this can be done directly on the RentRedi app.
Rent Collection
With RentRedi, you can accept rent payments and late fees via ACH (bank transfer), credit and debit cards, or even cash deposits (with RentRedi’s Chime integration).
Here’s how it works: Connect a bank account to receive rent payments. You can use unlimited different bank accounts or the same one across your portfolio. Then set the payment type you’ll accept for each property (ACH Only or ACH, Credit, & Debit Cards). From there, you’ll be able to receive payments in as few as 2 business days after the initial payment account approval.
There’s a $1 fee per ACH transaction and a 3.1% + $0.30 fee per debit or credit card transaction. Tenants cover this cost by default, but you can also opt to cover it for them. In addition, tenants can set up autopay to avoid late payments, and landlords can set up auto-late fees to enforce lease agreements.
Tenants who prefer to pay with cash can deposit cash at over 90,000 retail locations—like Walmart, Walgreens, and 7-Eleven—through RentRedi’s partner Chime.
If you subscribe to TransUnion’s ResidentCredit program for $5.99/month, you can also report on-time payments to the three major credit bureaus. According to TransUnion, 7 in 10 renters are more likely to make on-time rent payments if they’re reported to a credit bureau.
Maintenance Requests
RentRedi lets tenants submit maintenance requests by selecting a repair category, description, and a 5-second video of the issue. Landlords are automatically notified and can add further internal notes, priority statuses, and associated costs to the work order.
From there, you can assign the job to a contractor or take it on yourself. RentRedi also offers integrated maintenance servicing with transparent pricing through its partner Lessen. They have a vetted network of 30,000 vendors, but you’ll need to check availability in your area. Once the work order is resolved, you can update tenants with a push notification to their tenant app.
Tenant and Team Communication
With RentRedi, you can manage all tenant communication from a single platform. For example, you can chat with tenants directly within the app or send push notifications by property or unit to keep tenants updated on rent deadlines, maintenance, or other announcements.
In addition, RentRedi lets you create unlimited teammate accounts. This makes it easy to keep everyone on the same page and control account access. For example, if there are any personnel changes, you can edit or revoke access to protect your and your tenants’ data.
Rental Property Accounting
RentRedi partners with REI Hub to offer rental accounting features. These include income and expense tracking, rules-based transaction matching, financial reporting (P&L, cash flow, balance sheet), IRS Schedule E reports, and more. By linking your bank accounts and properties, you can automate your rental bookkeeping and save countless hours of work.
However, these features come at an extra cost. On top of your RentRedi subscription, you must have a subscription to REI Hub, which is $25/month for 3 units, $29/month for 10 units, $59/month for 20 units, or $99/month for unlimited units.
Renters Insurance
Tenants can purchase renters insurance through RentRedi partner Sure or submit proof of insurance directly through the RentRedi app. If they don’t, you can request that they do (or even require them to in the lease agreement). This helps protect their personal property and can lower your landlord insurance premium.
User Experience
Creating a RentRedi landlord account is easy.
First, you’ll need to enter your email address or log in to your Google, Microsoft, Apple, or Facebook account. Next, you’ll identify as a landlord. From there, you’ll enter your first and last name, phone number, and a new password.
Mobile App
RentRedi has an impressive mobile app. It’s available on Android and iOS for free and has both a tenant-facing and a landlord-facing version. The landlord version can handle most of RentRedi’s landlord features, while the tenant version can handle all of its tenant features.
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Customer Support
If you ever need help, you can contact RentRedi via:
- 24/7 live chat from your RentRedi dashboard
- Email at team@rentredi.com
- Phone at 917-793-6068 from 9 AM to 5 PM EST
You can also schedule an onboarding meeting or a product demo, or search for an answer among the hundreds of articles at RentRedi’s Help Center.
Summary
RentRedi is a great tool for self-managing rentals. Whether you own a few doors or many, the platform can do the heavy lifting of finding, managing, and collecting rent from tenants for you. That way, you have more bandwidth to scale your portfolio or spend time outside of work.
Best of all, it’s easy to get started. With monthly billing options, you can try out the platform without making a long-term commitment. Then, if you decide RentRedi fits the bill, you can switch to a more affordable 6-month or annual billing cycle. Create a RentRedi account today.
Methodology
We evaluated RentRedi based on its pricing, features, user experience, mobile app, and customer support options. All information above was based on RentRedi’s website and our personal experience.
Also Read: The Best Online Rent Payment Service for Small Landlords
RentRedi is an all-inclusive landlord-tenant app. Manage vacancies, screening, and rent collection from wherever you are, on any device. Strength: Complete Solution
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