The technology arm of single-family asset management firm Carrington Holding Company LLC and default software provider Equator have joined forces to offer software that allows users to manage multiple properties and multiple property managers at the same time.
Aliso Viejo, Calif.-based Carrington Technology Solutions LLC created RentPointe and has used it to manage its own portfolio of nearly 20,000 single-family rental units for the past seven years.
Through an exclusive agreement with Equator Business Solutions, the companies will integrate the software-as-a-service product into Equator’s EQ Investor platform for use by financial institutions, institutional investors and large-scale property management companies.
"Over the past few years, we’ve noticed an increasing demand for an application that allows people to more efficiently manage their single-family rental assets — and we’ve seen, firsthand, how Carrington has been able to do just that with RentPointe as a proprietary solution," said John Vella, chief operations officer for Equator, in a statement.
"By partnering with Carrington in this way, we are able to offer RentPointe to our existing customer base and quickly bring to market a solution the industry desperately needs."
RentPointe allows users to manage every aspect of a rental property’s life cycle from acquisition through rehabilitation and lease-up to ongoing management, the companies said.
Features include vendor management, business analytics, asset and vendor performance monitoring, online rental payment processing, and the ability to upload and securely store documents such as rental agreements and vendor contracts. RentPointe is accessible via mobile devices, including smartphones and Apple iPads.
"Understanding the growing need for a product that is both tailored to portfolio management and has the ability to manage multiple property managers, we designed RentPointe to be a ‘manager of managers’ software solution," said Brent Rasmussen, executive vice president and chief information officer for Carrington Technology Solutions, in a statement.
"Offering RentPointe through this partnership presents a win-win as it marries Carrington’s operational expertise with Equator’s reputation as a leading technology solutions provider for the real estate and mortgage industries."
The RentPointe integration is currently in pilot testing and the product will be available on April 1, the companies said.