RentRedi, a property management software that simplifies the renting process for both landlords and renters, has added new features to its platform that particularly benefit landlords of non-traditional rental properties. The features open up new possibilities for those who engage in house hacking, rent-to-own and renting salons, parking spaces, storage spaces, garages and student housing.
“There are many ways to generate rental income beyond renting traditional properties such as apartments and single-family homes,” said RentRedi Co-founder and CEO Ryan Barone. “Our mission is to help all landlords and all renters. Therefore, we consider feedback from customers renting out any type of property or space to ensure we’re meeting their needs by offering the most robust rental software and delivering the best experience possible.”
Using the RentRedi platform, landlords now can customize their rent collection schedules. Landlords may want to set up different schedules so that the monthly payments on a three-year lease will automatically increase each year. For example, if owners of rent stabilization apartments prefer their tenants sign two-year leases, with the stipulation that the rent increases for the second year of the lease, the payments will automatically transition to the new payment amount at the start of the second year of the lease.
Using RentRedi’s month-to-month feature, landlords can also choose to set up a month-to-month lease from the beginning or start out with a year-long lease that transitions to a month-to-month lease after the first year. Fpr example, month-to-month leases are a good option for renting parking spaces.
Recurring weekly payments offer customers the ability to set up their rent collection schedules to handle both weekly payments and tracking. Additionally, landlords can customize their autopay schedules by choosing specific days of the week or month to collect rent.
These features are particularly helpful for salon owners, who prefer to rent booths or chairs to stylists on a weekly basis and may need to offer flexible begin and end dates, the company said. They can use the weekly recurring payment and multiple autopay features to manage high turnover more effectively, making their terms more attractive to stylists who crave flexibility and would rather not pay large lump sums for rent each month. These payment and tracking models may also be attractive to managers of storage unit and mailbox rentals for the same reasons.
“Most independent landlords like to make it up as they go and pave their own way,” said Barone. “We want to ensure that RentRedi provides them with the conveniences and efficiencies they seek, while providing enough flexibility to build their own processes by using our intuitive templates as a guide.”
RentRedi provides landlords with the ability to customize their application process through RentRedi’s template builder, with the option to either start a template from scratch or start by using RentRedi’s default templates. From there, they can add or delete sections, decide which sections are required, add supplemental questions and mark certain questions as conditional to answers to prior questions.
