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People invest in residential real estate for a variety of reasons. A primary motivation is to earn passive income and achieve financial freedom. But for some would-be investors, the benefits of ownership can be diminished by administrative burdens—marketing vacant units, screening potential tenants, getting leases signed, collecting payments, tracking expenses, and maintaining the property.
There are technology solutions to streamline the work, but many aren’t designed for or affordable to individual property owners. That’s why NAR REALTOR Benefi ts® recently introduced a partnership with RentRedi, a mobile and web app that puts all that functionality into one easy-to-use property management software—at a price that’s affordable for individual real estate investors.
Exclusively for NAR members: You’ll pay just $1 for a six-month RentRedi plan. After six months, you can lock in a 50% discount on your renewal for as long as you continue using RentRedi’s six-month plan. And as a subscribed user, you can earn $50 for any new subscribers you bring in through your unique referral link.
App Features
Founded in 2016, RentRedi is in use by more than 30,000 landlords. The app enables you to:
- Collect automated online and mobile rent payments
- Find qualifi ed renters with background checks and proof-of-income verification
- Create custom prequalification and application forms to suit your business
- Manage rental property accounting and track maintenance repairs
- List properties on realtor.com®, HotPads, Trulia and Zillow
- Provide access to an unlimited number of tenants and teammates and manage an unlimited number of properties without an increase in subscription cost
In March, the company rolled out a rent-reporting function connected to all three major credit bureaus—Equifax, Experian and TransUnion. Rent reporting allows the credit agencies to factor on-time rent payments into a consumer’s credit score. Real estate investors can offer this feature to residents who are looking to improve their credit scores and may also benefit from it themselves. RentRedi data shows that offering this credit feature increases on-time rent payments by 13%, with tenants who have their rent reported making on-time rent payments an average of 93% of the time.
How It All Started
Company founder and CEO Ryan Barone didn’t set out to create a tool for landlords. More than a decade ago, Barone was a college student hunting for apartments in the notoriously competitive New York City market. Each time he applied for an apartment, he had to start the process over, filling out an application and providing documentation.
If only there was an app for that. Barone set out to create just that, but property owners liked the app so much, they asked for additional functionality. That’s how RentRedi evolved into the all-in-one solution it is today. In 2023 and 2024, the app received the Tenant Portal Solution of the Year award from the PropTech Breakthrough Awards. But while the app wins plaudits for being tenant-friendly, it’s the property owners who drive a lot of the new features, Barone says. The company’s tech support and development teams ensure that every iteration of the software benefits from user input.