RentPost: Property Management the way it should be
I first learned about RentPost while reading a blog post on Startup Riot SHOW in Atlanta which took place last month, and immediately wanted to write a review on it.
RentPost is a cloud-based property management platform. While the cloud is nothing new for CRM, household-name CRE property management tools like MRI and Yardi have been slow to embrace the cloud computing trend.
From the RentPost's AngelList product description:
RentPost is property management software in the cloud, supporting property managers and landlords. What makes RentPost unique is the high level of integration with managers, tenants, and owners. RentPost allows tenants to pay their rent online, submit work orders, private message their managers, and much more. It is with this level of integration and bridging that RentPost is able to bring new efficiencies to the property management industry.
The platform is internal and external facing, serving both property managers and tenants. It does this with one of the most aesthetically pleasing, intuitive interfaces I've ever seen in a property management application - desktop or web based.
RentPost helps property managers perform:
Unit and tenant management - Things like unit/tenant unification; unit photos and maps; unit notes; unit groups; prospective tenants; unit flagging and alerts; quick stats
Work orders and task management - Direct replies; assignable tasks; quick stats; photo attachments; personnel and colleague sorting
Accounting - Funds in processing; returned check handling; income/expense recording and logs
General Reporting - Rent rolls; upcoming renewals; tenant delinquencies; work orders; owner's reports
After demoing the backend of the site, it also looks like RentPost is building out an ad-syndication feature which would post vacancies to sites like Craigslist, Trulia and Rent.com. This would allow the property managers to orchestrate their marketing efforts within this platform, as well.
One thing I didn't see - which might be a good feature to add - is the ability run credit checks and link them to tenant records. I think TransUnion, Equifax and Experian all have affiliate programs. This could be a way for RentPost to monetize this feature without increasing their monthly end user pricing.
The front-facing tenant features include online and automated rental payments, access to full payment history and a direct line of communication with management and maintenance.
This rental management platform definitely satisfy the needs of property owners and managers who lease and manage multi-unit residential properties, storage facilities and smaller office, industrial or retail spaces. But it probably isn't a platform for larger commercial properties where managers need to calculate and track expense stops and/or reimbursements.
This isn't a bad thing, though. The best applications aren't all things to all people. RentPost has identified a niche and looks to fulfill the needs of these users.
Demoing RentPost made me want to go out and buy a couple rental units just so I could use the platform.