BootCamp is a 4-part series of articles aiming at helping new RentCentral users find their feet.
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Hey, it's good to meet you!
Thanks for signing up for a free RentCentral account.
We've built RentCentral to be as user friendly and consistent as possible, and we hope you enjoy finding your way around.
To help you find your feet, we're going to send you a couple of emails which will guide you through your first steps with RentCentral.
Think of this as a quick RentCentral BootCamp to get you up-to-speed fast.
In total you'll get just 4 emails, one each day for the next four days, after which we won't bother you again. If you get bored and don't want to continue, just unsubscribe using the details below. We won't take it personally.
BootCamp day 1: Properties
Everything in RentCentral is linked to a property. This can be a house, block of flats, houseboat or igloo - in fact, if you're going to rent it out, you're going to have to add it to the list.
To add a property to RentCentral, first login, then:
- Select the 'Properties' link in the blue menu bar
- Click on the '+ Add new' button
Note: You don't haven't added any properties to your account yet, you'll be taken straight to the 'Add new property' page.
RentCentral will take you through the business of setting up your new property. There's handy hints to guide you along the way, and everything you do here can be edited or deleted later - so don't worry about making a mistake!
The only information you must provide is a property address.
Once the form is complete, click the 'Save' button and you'll see that a new record has been created for the property.
Note: The free, Core account is limited to only one property.
Adding a mortgage
If you've taken out a mortgage on your property, RentCentral can help track the interest payments you make, as well as calculating the owner's equity.
To setup a mortgage:
- Select the relevant property from the property list
- Click on the Mortgages tab
- Select the '+ New mortgage' button
You'll need to know the date the mortgage started and the mortgage value - but just like before, you can always change these later - so just guess if you're not sure of the exact details.
Optionally, you can add details of the mortgage lender and any other notes you need before clicking on the Save button.
Putting it all together
You've now set up your first property, along with any associated mortgages. To check your work, take a look at your Portfolio value:
- From the top menu bar, select Accounting
- Select Portfolio value
Here you can get an overview of the properties you own, and keep track of any capital expenses or gains.
Now you've setup a place to rent, you can start recording expenses, tenancies, notes, mortgages and all sort of other business information that'll help you track you portfolio. But that's for later. For now you should accept our...
You've taken your first steps towards sorting out your property business. We recommend a long, cool drink.
See you tomorrow!