Rent Redi Alternatives

[Trey Fischer]

Hello, I am not sure why bigger pockets advertises rentredi.com, but I have been using them for several months and their support is beyond awful and I have been trying to locate money that has mysteriously disappeared. I had an accidental chargeback that the tenant had reversed at Amex because his mother did not recognize the name of my LLC. I have seen the tenant's bank statement and they opened a case with amex. After months of being told to wait(Issue started in April 2024) by rent redi, I finally found an agent that would escalate it to their backend payment processor(Propay). The payment processor says they have no funds "being held" but yet I can clearly see the money was sent and their is a Amex case number that says the money was sent back to my account. I then asked support that we do a conference call with Amex, propay(rent redi's payment processor) and they refused. $350 dollars doesn't just disappear. I have reached out to the CEO over a week ago on Linkedin with no response.

[Nathan Gesner]

Quote from @Trey Fischer:

BP has some type of collaborative agreement. BP promotes it as a free upgrade for paid members and probably gets a small kickback every time a member upgrades to a paid account.

RentRedi isn't for everyone. Some people love it, while others hate it. That's the way it is with any software. Now that you have experience with RentRedi, you can research other platforms and find one that's more suitable for you.

Here are some things to consider:

1. Most investors don't need software until they have 5-10 rentals. You only need a place to track tenant information, payment history, maintenance, etc. You can easily do this on a spreadsheet, and it will take less time to track than finding and learning new software. If the software is not simplifying your life or making you more accurate, you shouldn't use it. Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.
2. Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports. Do you need all this for a couple of rentals?
3. There is no perfect software out there. Every system you try will have flaws, or you may salivate over a feature that appears in other software.

Some familiar names are mentioned frequently: Stessa, Apartments.com, RentRedi, TenantCloud, Innago, RentManager, Avail, Rentec Direct, Doorloop, etc.

I recommend conducting thorough research on each app online to understand their offerings, pricing, etc. Create a simple spreadsheet or written list to compare the features of each and identify the ones that align with your requirements. Try to narrow down your options to the top 3-4. Once you have a shortlist, sign up for an account with each one and test them extensively to see how they function. Perform the same task in each app to ensure a fair comparison.

• Load a property with pictures and details.
• Market that property.
• See what your marketing looks like from the public's perspective.
• Submit a fake application to see how easy the process is.
• Run a credit/screening report on yourself.
• Enter a maintenance request, assign a vendor, and attach a fake invoice.
• Enter charges to the tenant's ledger.
• Enter recurring charges and automatic late fees.
• Sign documents electronically.
• Run owner reports.

After testing a few apps, one should clearly stand out. It's important to choose that one and commit to using it. Remember, no system is perfect, so avoid the temptation of constantly chasing after the next shiny object. You should only consider switching when your current software has a significant flaw or lacks features that force you to spend excessive time on workarounds. At that point, it's worth researching and finding a solution that better meets your needs.