What a property manager does, and what Rentra covers
Most of a manager's monthly work is routine: collecting rent, answering tenants, and sending repairs to vendors. That's the part Rentra automates. Finding tenants and evictions stay with you.
| Task | Property manager | Rentra |
|---|---|---|
| Collecting rent | Collects rent and pays you the balance after fees. | Tenants pay by ACH or card, with autopay. Rent goes to your bank account. |
| Reminders and late notices | Sends reminders and late notices. | Email reminders and late notices go out on a schedule. Late fees are optional. |
| Tenant questions | Answers calls and texts during office hours. | Tenants text a dedicated number. On Autopilot Advanced, AI answers from the lease. |
| Repair requests | Takes the request and sends a vendor. Some add a markup to the invoice. | Tenants text the problem with photos. AI sorts urgency and texts your vendor once you approve. |
| Bookkeeping and taxes | Sends a monthly owner statement. | Bank sync through Plaid, Schedule E reports, depreciation with Form 4562, and 1099 tracking. |
| Inspections | Walks the unit at move-in and move-out. | You walk the unit. AI compares move-in and move-out notes and suggests deductions for you to approve. |
| Lease renewals | Handles renewals, often for a fee. | Renewal alert 60 days before a lease ends. E-signatures for lease addendums. |
| Finding new tenants | Lists the unit, shows it, and screens applicants for a leasing fee. | Not included. Use a listing and screening tool, or pay an agent per placement. |
| Evictions | Coordinates with an attorney. | Not included. |
What each option costs
Take four units renting at $1,800 a month. At 8%, a manager's monthly fee comes to $6,912 a year. One new tenant at half a month's rent adds $900. Rentra for the same four units is $25 a month, or $300 a year. Put your own numbers in below.
Upload a signed lease and Rentra sets up the tenant, the rent and the lease dates. Try it free for 14 days
What Rentra doesn't do
Rentra is software, not a management company. It doesn't list units, run showings, screen tenants, or go to court for evictions. Nobody from Rentra visits your property, so inspections and vendor access are up to you. It's also single user, so there is no team access.
You stay the landlord. The AI handles routine tenant texts and lines up repairs, but you approve each repair before it's booked, and emergencies come to you. If you want people to do that work, a full-service manager or Hemlane's service plans fit better.
How to leave your property manager
- Read your management agreement. Find the termination clause. Note the notice period, how notice has to be delivered, and any termination fee. Some agreements also charge a fee if you later rent to a tenant the manager placed.
- Send written notice. Send it the way the agreement requires, and keep a copy. Give an end date that lines up with a rent cycle so a month's rent isn't split between two systems.
- Collect the records. Ask for signed leases, tenant ledgers, security deposit amounts and where each is held, keys and access codes, vendor contacts, warranties, open work orders, and owner statements for the year.
- Move the security deposits. Have the manager transfer each tenant's deposit to you or to an account you control. Many states regulate where deposits are held and require you to tell tenants when the bank changes. Check the rules in our state guides.
- Tell your tenants. Give tenants the date you take over, how to pay rent from then on, and who to contact for repairs. The letter below covers it.
- Set up Rentra. Upload your signed leases and Rentra's AI creates the properties, units, and tenants. Bring in your rent roll with the CSV template, then invite tenants to pay online.
Tenant letter template
Fill in the brackets and send it before the handover date. Leave out the deposit line if the deposit stays where it is.
Dear [tenant name], Starting [date], I will manage [property address] myself. [Management company] will no longer handle your tenancy. Your lease terms do not change. Rent: from [date], please pay through Rentra. You'll get an email invitation to set up online payments and autopay. Don't send rent to [management company] after [date]. Security deposit: your deposit of $[amount] is now held at [bank name and address]. Repairs and questions: text [your Rentra number]. For a fire, gas leak, or other emergency, call 911 first. Thank you, [Your name]
Questions
Do I need a property manager?
Not always. A manager makes sense if you live far from your rentals, don't want tenant contact at all, or have more units than you have time for. If you live nearby and are willing to approve repairs and handle turnovers, software can do much of the routine work for far less.
How much does a property manager cost?
Monthly management fees typically run 8% to 12% of the rent collected, according to NARPM, the property managers' trade association. Zillow puts leasing fees at 25% to 100% of the first month's rent for each new tenant and renewal fees at up to about $200.
Can Rentra fully replace a property manager?
No. Rentra covers the routine work: rent, reminders, tenant texts, repair triage with your own vendors, and books. It doesn't list units, show them, screen tenants, or handle evictions, and someone still has to walk a unit at move-in and move-out.
What if I don't live near my rental?
You'll need local vendors you trust, and someone for showings and inspections. Rentra texts your vendors directly, so most repairs don't need you on site. If you want people to coordinate repairs for you, Hemlane sells that as a service.
Can I switch away from my property manager in the middle of a lease?
Usually, yes. The lease is between you and your tenant, and the manager acts as your agent, so it stays in force when the manager leaves. Check both the lease and the management agreement before you give notice.
What does Rentra cost?
$5 per unit per month with a $25 monthly minimum, or 20% off billed annually. Every feature is included, there's no contract, and the 14-day trial needs no card to start.
More on the decision: self-managing vs. hiring a property manager, how landlords use Rentra, and pricing.