SOURCE: Investment Instruments

Investment Instruments

January 29, 2010 09:00 ET

Rentometer Brings Professional-Grade Property Management Tools to Individual Landlords

Owners Big and Small Can Now Offer All Payment Options, Screen Tenants and More Easily Manage Properties

NEWTON, MA--(Marketwire - January 29, 2010) - has long acted as the primary resource for tenants and landlords to find updated and accurate rental prices. Today Investment Instruments Corp. (IIC) combines with its professional grade property management tools. The new offers small landlords the products and services traditionally only available to large property management firms. offers a one-stop resource for landlords to better advertise, manage and maintain their properties in one easy-to-use online site. When landlords have a vacancy, they can now easily advertise that property in a number of venues. If a property needs fixing, they can put the project out to bid and easily keep tenants informed of the progress along the way. And when it comes to collecting rents, they can automate the entire process while offering multiple ways to pay, including paper checks, credit cards or other electronic payments. 

With Rentometer, landlords can offer tenants several payment options. They also get the ability to track maintenance requests and costs, screen tenants and easily advertise vacancies -- all from a single online interface. For tenants this means being able to pay rent in a way that fits their lifestyle, while landlords eliminate the worry of when checks will arrive.

Powerful Property Management Tools for Everyone 

"People get into the landlord business because they think they can quickly make money at it, but once they get overwhelmed with the administrative aspect, they back out of it. That's because they use tools like spreadsheets and Quicken, which require a lot of work on the part of the landlord," said Matt Angerer, a part time landlord who owns several properties in western Pennsylvania. "Rentometer allows me to put the repetitive tasks -- like rent collection -- on cruise control, but get notified of the things that really need attention -- like maintenance requests."

Payment Options for Tenants

Angerer offers his tenants different ways to pay their rents. In the past, tenants would send a paper check to Angerer's home. With Rentometer's property management system, that check is now sent to a central processing center, so he no longer has to wait for checks or deal with late arriving payments. What's more, many of his tenants now pay through electronic payments, making the processes simpler for everyone. He even plans to offer credit card payments for convenience, all through Rentometer.

"As a landlord the most important thing is paying the rent because we still have mortgages," he said.

On the tenant side, roommates no longer need to have a lead tenant who collects money each month from everyone else. Now each tenant can ensure that their payment reaches the landlord in the method that suits them, regardless of what their roommates do.

"Our goal is to help landlords automate and manage the many steps they must take in keeping their units rented. They need to advertise, screen tenants, collect rents, file legal documents, maintain their properties and keep careful track of it all," said Allison Atsiknoudas, CEO of Investment Instruments. "In the past landlords placed costly ads in the local newspapers and were then forced to chase paper checks. But today, there are a wide variety of paid and free advertising venues, plus tenants are demanding more payment options. People are used to living their lives online, and we want to help them live their rental life online too."

Key upgrades for Rentometer's property management tool include:

  • Tenant Screening - Evictions are not only difficult and expensive, they drive up costs for everyone. A good tenant screening can avoid this problem. Rentometer offers multiple options, including a tenant scorecard, background and eviction checks as well as a detailed tenant report, all designed to help the landlord make better decisions. Tenant screening is available at a discounted price for landlords who sign up for the feature before February 1, 2010.

  • Rent Processing - Rentometer has long helped landlords more easily accept paper checks and electronic bill payments, as well as allow multiple tenants in a single unit to pay their landlord individually rather than require a "lead tenant" to collect payments each month. Now landlords can offer all forms of payment. In early February, the system will allow all rent-related payments to be processed automatically, including deposits, condo fees, parking and other rent related fees. All payments will be processed within 48 hours.

  • Vendor Payments - Many landlords manage their properties remotely, but most local vendors and contractors only take paper checks. Rentometer fixes that problem by enabling landlords to find and pay vendors through the system, allowing them to use electronic bill payment or credit cards. What's more, because these payments are handled online, they are easily associated with the property, providing landlords with a clear view of the maintenance costs of their units. The payment options are available for any vendor, even if they are not listed in the Rentometer database.

Pricing and Availability

The Rentometer property management tools and the additional services are available immediately at Pricing for the core rental management system starts at $9.99 a month depending on the number of properties under management. Additional features are priced on a per-use basis.

About Investment Instruments Corporation 
Investment Instruments Corporation (IIC) offers the unique property management tools at that increase transparency in the residential real estate market to strengthen relationships between real estate managers, their tenants and the professionals who support them. IIC was founded by an executive team with a strong history in real estate and technology. For more information about Investment Instruments Corporation, please visit   

Contact Information

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