Frequently Asked Questions
have questions? We're here to help you
Who is Rentool For?
Rentool is designed to serve a wide range of users, including property managers, management companies, property owners, landlords, investors, and tenants. Our platform caters to those who seek improved organization, effortless custom report generation, increased profitability without added expenses, and a streamlined rental management experience. Whether you're just starting with one property or managing a large portfolio, Rentool offers unlimited customization and flexibility. Our mission is to simplify your life, boost productivity, enhance occupancy rates, and reduce your workload, allowing you to focus on what truly matters.
Is my banking information safe when using an online rent collection service?
Yes, your banking information is secure when using online rent collection services like Rentool. We adhere to rigorous banking security standards, ensuring the encryption and protection of your financial data. Rest assured that your information is safeguarded with the same level of security as banks provide.
Can I collect rent online without giving my personal information to my tenant?
Absolutely! Rentool, along with other online payment platforms, maintains the privacy and security of your data. Renters can make payments through our platform without needing access to your personal information, such as your address or bank account details.
Can I still use Rentool if I only have a couple of units?
Certainly! Rentool is suitable for users with any number of units, whether it's just one or several. Our platform streamlines the entire rental process and offers its services for free. We're here to simplify your rental experience, no matter the scale.
How do I pay rent on Rentool?
Paying rent on Rentool is straightforward. Once your landlord invites you to use Rentool, you can easily link your bank account or debit/credit card to the platform. You'll receive invoices based on the rent schedule set by your landlord, making the payment process convenient and hassle-free.
How do Renters use Rentool?
Renters can enjoy the convenience of Rentool's tenant portal, which simplifies rent payment and rent collection management. After creating an account, tenants can seamlessly pay rent by connecting their bank or credit card account. Furthermore, Rentool allows tenants to effortlessly view and manage past payments, rent collection details, deposits, and access landlord contact information. Our tenant portal is accessible via both mobile and desktop devices for your convenience.
How does Rentool keep my information secure?
At Rentool, we take data security seriously and follow the industry’s best practices to ensure your information remains safe. We invest significantly in security measures to protect your data. Rentool employs bank-level encryption to safeguard your information both when stored in our databases and during transactions. This means that your data remains private and secure at all times, with no exposure to the sender or recipient of a transaction.
How is my bank and credit card data stored?
Rentool exclusively focuses on managing the financial aspects of your properties and does not store any bank or credit card data. All bank and card data are directly processed by "Valu" an industry-leading third-party operator with strong security measures in place. They handle interactions with banks, ensuring the highest level of data security. Rentool only retains a token of the data provided by Valu for added protection.