Paperless billing is one of the greatest facets of the Internet, especially when it comes to recurring payments. For many folks, the biggest monthly expense is rent, and the process of sending off a check, or coordinating payments with roommates to keep a roof over your head is a juggling act. Rentomatic (which rolls off the tongue a lot easier than its predecessor iiProperty) is aiming to help change that for people in apartment buildings with anywhere from one to ~50 units.
While this technology remains mostly unchanged for landlords who might have previously used iiProperty to handle finances, expiring leases, and online advertising of open apartments, Rentomatic adds some new perks to the tenant side of things with a whole new front end that lets renters pay without a paper trail. Once you've linked your bank account or credit card, you can pay the rent while in your pajamas or even set up automated billing. It's also got a built-in service for maintenance forms, in case something at your place needs a little TLC.
In addition to the personal tools, there's an internetwork messaging system that works like e-mail. This is most helpful for larger complexes with landlords who live offsite and don't want to have to make a trip just to get to an empty mailbox, or when they want to send out a building-wide notice. Landlords can also set it up to automatically send their tenants e-mail reminders if a payment is overdue.
Rentomatic's dashboard is eyeball-friendly for landlords. Tenants can now also enjoy a way to pay their rent sans paper checks--trees will rejoice.
(Credit: Rentomatic and Investment Instruments, Corp)Rentomatic's got three tiers of service. The first is a free version for as many as five leases. There's also an all-you-can-eat "advanced" plan that adds tax forms and tracking for maintenance. To get the client front-end that lets tenants pay with their bank account, landlords have to pony up for the "Rent Management" plan, which runs $5 per unit per month.
See also: Rentometer, which we checked out in August. It's made by the same folks as Rentomatic. This tool lets you see how much you're paying for rent compared to your neighbors.
Rentometer is a useful mashup, one that's part scientific, and another pure speculation. The idea is simple: just plug in your ZIP code, the size of your dwelling, and how much you're paying, and Rentometer will cross-check your price with local property listings pulled in from parent company iiProperty. Results show up on two screens, one that's a little bit like a speedometer, and another that's simply a Google Map with nearby property listings.
This is a great service if you're apartment hunting, since you can see if the price is higher or lower than others in the area. It's also helpful if you want to see if you're getting a deal, or paying too much for your current living situation.
Of course, the system is inherently flawed, since landlords and property owners who get wind of this system can jack up their rates accordingly. Likewise, it doesn't take into account things like parking spots, security, and whether units are standalone, or part of complexes. Also, newer buildings, and units with more square footage can sometimes create huge price differentials, even on the same block.
The service has an open API for enterprising real estate or rental Web site owners who want to add cost context to their property listings.
Check out Rentometer to figure out if you're getting a good deal on rent, or whether you're getting hosed by your landlord.
(Credit: CNET Networks)
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