When it comes to online rental property management tools, RentRedi and Apartments.com (formerly Cozy) are 2 of the most popular options. Both offer a wide range of features and benefits, but which is best for you? 

In this blog post, we’ll compare RentRedi and Apartments.com, as well as introduce you to Stessa, so that you can decide which tool is right for your business.

RentRedi overview

RentRedi offers an all-in-one property management software solution for landlords with an easy-to-use computer and mobile app. The company believes its technology is easy to adopt, affordable for self-managing landlords, and sustainable for residential real estate’s current and future landscape.

Pricing

RentRedi offers 3 pricing plans. With each plan, you can use its tools for as many rentals, tenants, and team members as you like. Here’s how their pricing works: 

• Start: $5 per month
• Grow: $29.95 per month (or $12 per month when paying annually)
• Pro: Custom pricing upon request

The main features you get access to in Grow that you don’t get with the Start plan include online applications, tenant screening, income verification, listings for vacant units, lease signatures, document storage, maintenance requests and tracking, and human support. 

Features

• Rent collection and accounting: Alongside multiple payment options, landlords can link bank accounts to individual properties, facilitating rent collection and financial tracking. There’s also an option to export rent payments directly to spreadsheets or QuickBooks Online.
• Tenant screening (Grow and Pro plan only): Certified TransUnion reports offer detailed credit, criminal, and eviction information. The screening includes background checks, and tenants pay $39.99 per application.
• Applications (Grow and Pro plan only): Included pre-qualification questions help landlords quickly determine if an applicant meets their criteria. Landlords can invite potential tenants to apply directly from their dashboard and monitor the status of pending, accepted, and rejected applications.
• Maintenance requests and coordination (Grow and Pro plan only): The platform provides a tenant maintenance request portal. Tenants receive automatic maintenance status updates, and you can manage work orders with your vendors.
• Listings and marketing (Grow and Pro plan only): RentRedi syndicates listings to Zillow and Realtor.com, and each listing can include virtual tour options accompanied by a marketing page.

Apartments.com (formerly Cozy) overview

Apartments.com enables landlords to collect rent, track expenses, communicate with tenants, and market their properties. Apartments.com also offers an easy-to-use platform for managing all aspects of your rental business. 

Pricing

Apartments.com’s rental management tools are easy to use and free. Apartments.com makes it simple to accept rent applications, screen tenants online, generate and sign leases, collect rent payments, track expenses, and receive and manage maintenance requests. 

With Apartments.com’s tools, everything related to your rental property is organized and accessible in one place. The company also offers premium listings, charges prospective tenants application and screening fees, and collects transaction charges if rent is paid with a debit or credit card. 

Software features

• Apartments.com makes it easy to list your rental property and automatically place it on 5 of the most popular websites in the Apartments.com network, including ForRent.com, Apartment Finder, ApartmentHomeLiving, and Apartamentos.com.
• The landlord can be contacted by phone or email, or applicants can click the Apply Now button to begin the application process.
• Property owners may increase their exposure by purchasing a premium listing, which allows them to appear on 7 different network sites and rank higher in search results.
• Applicants verify their identities and pay for their tenant screenings, with reports coming in as “soft inquiries” so credit is not affected.
• TransUnion, Equifax, and Experian provide Apartments.com’s credit reports. These reports include a detailed account of an applicant’s overall debt, credit payment history, and job and address history.
• Reports on criminal and eviction events are generated by searching national databases and county records.
• Landlords may use Apartments.com’s online wizard to produce a unique lease agreement for their tenants.
• Lease contracts may be signed online using digital signatures and saved and retrieved at any time.
• Tenants may set up online recurring payments.
• Rent payments through ACH transfers are free for renters, but they must pay a small fee using a debit or credit card.
• Landlords receive payments directly into their bank accounts each month.
• The app lets tenants submit maintenance requests and other information, such as photographs and videos.
• Online management and storage of maintenance requests and records, including receipts and notes, helps you track your expenditures more accurately.

RentRedi vs. Apartments.com

Here’s a comparison of RentRedi and Apartments.com, so you can choose which one may work best for you.

Listings

RentRedi listings are immediately syndicated to partner sites like Realtor.com and Doorsteps.com. Landlords receive unlimited professional marketing pages to share on social media, and tours can only be scheduled with qualified tenants.

Vacant property listed on Apartments.com can reach millions of renters seeking single-family homes, condos, apartments, or townhouses to rent. The software automatically adds listings to the top 5 most popular rental websites in its network. In addition, landlords may get more exposure for vacant properties by purchasing a premium listing with 2 additional network sites, enhanced search result display, and larger ads and property videos.

Tenant screening

RentRedi offers full credit, criminal, and eviction history reports as part of every tenant screening with their Grow and Pro plans. Tenants are charged a $39.99 fee to process a screening report, or $49.99 if you also want income verification.

Apartments.com uses TransUnion to run credit reports and criminal and eviction reports, with applicants verifying their identities and paying for their screenings. Apartments.com’s comprehensive tenant screening reports include employment and residential address histories, a complete debt breakdown, and in-depth credit account payment history.

Leasing

Landlords use RentRedi to upload a lease or other document to share or send for signatures (Grow or Pro plans only). Tenants are notified when documents are ready to sign, the RentRedi tenant app is used to create a legally binding signature, and the signed lease can be stored online with the tenant’s profile.

Apartments.com’s online wizard takes landlords through a step-by-step procedure to develop a state-compliant online lease agreement. Lease agreements have been reviewed and customized for the region where the rental property is situated. Digital signatures are used to execute all lease documents and are securely stored and available online.

Online rent collection

RentRedi offers customizable payment solutions to easily collect rent online, with the option of charging any processing fees to the tenant. Payment options include ACH, credit and debit card, and cash deposits at over 90,000 retail locations. Landlords can accept partial payments or block payments from a tenant. ACH/cash currently cost $1 per payment and card payments are 2.9% of the payment plus 30 cents.

Apartments.com allows renters to make recurring rent payments online. A landlord receives funds into their bank account, and rent payments can be tracked via an online dashboard.

Financial reporting and tax management

RentRedi offers financial reporting and accounting on all plans. You can snap receipts, track expenses, view P&Ls, and create Schedule E reports on the platform. You can also export to QuickBooks.

Apartments.com allows landlords to record and manage their rental expenses in an easy, visual way with no extra charge. It can be used manually to input and track costs for a property, categorize them as Schedule E tax categories, and upload and attach receipts and pictures to organize and store online. The entry form features fields for vendor and payment date, amount, IRS expense category, and a space to provide notes regarding the expenditure.

Stessa vs. RentRedi vs. Apartments.com

While both RentRedi and Apartments.com offer a lot of features, there are many things that owners of small property portfolios may not need. This is where a tool like Stessa really shines.

Stessa provides software that offers a robust free plan and very user-friendly. More than 350,000 investors already use Stessa to manage and track their properties.

After signing up for a free account with Stessa, owners monitor their rental property investments from a single, comprehensive dashboard that they can use to optimize performance and returns:

• Track unlimited residential rental properties and entire portfolios.
• Monitor rental property investments from a single, comprehensive online dashboard.
• Link bank and mortgage accounts to automatically track income and expenses.
• Collect tenant rent payments online using ACH, debit cards, or credit cards, with automated rent reminders to help tenants pay on time.
• Publish a vacancy for rent and syndicate it out across a variety of websites for maximum exposure to high quality tenants.
• Perform tenant screening on Stessa through RentPrep and handle rental applications within the platform.
• Tenants can submit maintenance requests directly in Stessa – no more texts or phone calls.
• Open an FDIC-insured high-yield bank account* for each property and seamlessly integrate them with Stessa’s financial tracking features.
• Upload your document, tag it for digital signatures, and send it to tenants, vendors, partners, and others. 
• Allow tenants to set up recurring rent payment with Autopay.
• Track expenses on the go with the iOS and Android app.
• Organize and store all real estate documents safely and securely.
• Run unlimited financial reports for free, including income, net-cash-flow, and capital expense statements.
• Export tax-ready financials to make tax time a breeze.

To learn more about Stessa, visit the website here.

*Stessa is not a bank. Stessa is a financial technology company. Terms and conditions, features and pricing are subject to change. This article, and the Stessa Blog in general, is intended for informational and educational purposes only, and is not investment, tax, financial planning, financial, legal, or real estate advice.