Product Overview of TrueRent
TrueRent is a comprehensive property management software designed to streamline the operations of small to mid-sized property owners and managers. Although TrueRent has been acquired by Rentec Direct and has discontinued its independent operations as of March 20, 2022, its key features and functionality remain relevant for understanding its value proposition.
What TrueRent Does
TrueRent was developed to help property managers and owners manage their rental properties efficiently. The software aimed to save time and simplify tenant interactions by integrating various essential features into a single, accessible, and affordable platform.
Key Features and Functionality
1. Online Rent Collection
TrueRent allowed property managers to collect rent online via ACH, credit card, or electronic cash payments. This feature, known as QuickPay, enabled tenants to transfer funds directly from their accounts without additional charges.
2. Tenant Screening
The software integrated with Experian Tenant Screening to provide detailed reports on applicants’ credit, criminal, and eviction histories. This helped property managers make informed decisions about potential tenants.
3. Work Order Management
TrueRent included a work order management system that allowed users to create, assign, and track maintenance and repair tasks. This ensured that all parties were updated on the status of work orders.
4. Property Analytics and Tracking
The platform provided tools for tracking rent payments, alerting users when payments were due, and summarizing collected rent over specific periods. This helped in managing multiple units efficiently.
5. Tenant Portal
TrueRent offered a tenant portal where tenants could pay rent online, review their transaction histories, and communicate with property managers. This reduced the need for direct interactions and made the process more efficient.
6. Consolidated Payment Management
The software facilitated online payment collection, eliminating the need for manual check deposits and reducing the time spent on financial transactions.
7. Integrated Maintenance and Repairs
Users could manage and track maintenance requests and repairs through the work order system, ensuring that all necessary tasks were completed and documented.
8. Accounting and Reporting
Although not as extensive as Rentec Direct, TrueRent provided basic accounting features and reporting tools to help property managers oversee their financial operations.
Additional Benefits
- User-Centric Design: TrueRent was known for its intuitive interface, making it easy for users to implement and use the software without extensive training.
- Customer Support: The company was recognized for its exceptional customer support, ensuring that users had assistance whenever needed.
In summary, TrueRent was a robust property management software that offered a range of features to streamline rent collection, tenant screening, work order management, and overall property operations. While it is no longer operating independently, its features have been integrated into the Rentec Direct platform, providing enhanced functionality for its users.