When you add your rental properties to your RentCast portfolio, you can also add their current and past leases and the actual rents you collect from your tenants.
Doing so will give you access to additional features and help you get more insights into your rental portfolio's performance:
Keep track of all of your past leases and see a chronological tenant and lease history for each of your properties
View a historical trend of your collected rents and compare it to the estimated rent calculated by RentCast
See potential rent increases for each of your properties, as well as your entire rental portfolio in real-time
Set up rent alerts for your properties based on a dollar amount or a percentage increase above the current rents
Follow this guide to help you add your property leases and use the features mentioned above.
Adding and Managing Your Property Leases
To get to the lease history for a property, select it from your property list, and scroll down to the Lease History section:
From here, you can view the leases you've already added or add new ones. To add a new lease, click the Add Lease button at the top right:
And fill out the lease information in the popup that opens. Click Add Lease at the bottom when finished:
Tip: make sure to always select one of the leases you add as the "current" lease for that property to enable additional insights and features.
Viewing Historical Rent Trends
Right above the Lease History section, you will see a Rent History graph that will show both the current (or actual) rent you have been collecting from your tenants, as well as the estimated property rent calculated by RentCast:
Note: the estimated rent will be recorded starting from the month you added this property to your RentCast portfolio.
This graph is a great way to see how the rent of your properties has evolved over time, as well as how close it has been to the estimated market rent.
Viewing Potential Rent Increases
After you add the current lease for each of your properties, you will see their potential rent increases, both on the property page, as well as on your property list:
This figure is calculated by subtracting the current rent of a property from its estimated rent to give you an idea of how much you can increase your rents by, to bring them closer to market rates.
You will also see the potential rent increase for your entire rental portfolio at the top of the My Portfolio page:
Setting up Alerts Based on Current Rents
RentCast allows you to set up rent alerts for each of your properties to receive an email and an in-app notification when the estimated rent reaches your target.
After adding current leases, you can set up rent alert targets as a certain dollar amount or percentage above the current rent, in addition to a fixed dollar amount.
You can enable rent alerts by clicking the Edit button for any of your properties, going to the Notifications tab at the top, and turning on the Enable rent alerts toggle: