Before you switch
Review the exports from your current tool, agree on opening balances, and confirm which records can be imported. Keep your original records.
Discuss your setupStateful vs Rentec Direct
Rentec Direct is property management software for landlords and for managers. Stateful keeps a separate set of books for each LLC you own.
Short answer
Pick Rentec Direct if you manage units for other owners and need trust accounting, owner statements, screening, and online rent payments today.
Pick Stateful if you own your rentals through one or more LLCs and want a real set of books for each entity, rent tracking, and Schedule E per property, on one $15/month plan ($144/year).
| What matters | Stateful | Rentec Direct |
|---|---|---|
| Built for | Owners with one or more LLCs | Landlords and property managers. Trust accounting, owner statements, and paying owners by ACH are on the PM edition. |
| Books per LLC | Separate double-entry ledger and balance sheet for each entity | Property, owner, and bank ledgers in the account. Confirm whether each LLC gets its own balance sheet. |
| Rent | Rent tracking. Online rent payments are not available yet. You record rent you receive. | Online rent payments by ACH and card |
| Tax | Schedule E per property, for your CPA to review. Stateful is not a CPA and does not file the return. | Schedule E tax reports are listed on the edition comparison. 1099 e-file is listed for Pro and PM. Confirm the edition. |
| Price | $15/month or $144/year, unlimited properties and LLCs, 30-day trial | Starter is $25/month for up to 10 properties. Pro and PM start at $50/month and increase with unit count. Two-week trial. Confirm the current quote. |
| Mobile | Android app on Google Play now. iPhone is coming soon. | Pro lists a mobile app for landlords and tenants. PM includes Pro. Confirm Starter on their pricing page. |
Source: Rentec Direct pricing. Stateful’s offer: pricing and features. This comparison is published by Stateful, not an independent ranking.
Owner books versus manager trust books
A manager trust ledger tracks rent collected for other owners, the fee, and what is still held. That is the right book when you manage for clients. It is not a balance sheet for an LLC you own. If the property sits in your LLC, your CPA usually wants that LLC's own ledger: cash, loans, deposits held, and equity.
Rentec Direct's PM edition publishes trust accounting, owner reporting, and paying owners by ACH. Starter and Pro are aimed at landlords and do not include that trust-account set. Stateful is the owner side: a separate double-entry ledger and balance sheet for every LLC, in one login.
If you are taking properties back from a manager, start with the checklist for leaving your property manager. The statements and deposits still have to land on the LLC that owns the property.
What happens when money moves between LLCs
When one LLC pays a bill for another, or cash moves between them, each side needs an entry. The ordinary record is an amount owed: due to one entity, due from the other, unless the payment was a contribution, a distribution, or a bill one LLC paid for the other. A bank memo is not that entry.
Stateful keeps those balances on the books of each LLC. A single property-management file does not replace two balance sheets. The guide to books for multiple rental LLCs walks through the same split.
Year end: one Schedule E packet per property
Stateful can filter Schedule E, profit and loss, and the balance sheet by LLC, and break activity out by property. That is a packet for your CPA. It is not a tax return. Your CPA decides basis, depreciation, and what is deductible. Stateful is not a CPA.
Rentec Direct lists Schedule E tax reports, and 1099 e-file on Pro and PM. Compare the report you can hand over, not the label. Prices and plan details are on Stateful pricing.
When Rentec Direct is the better call
Choose Rentec Direct if you need online rent payments, tenant screening, or trust accounting for units you manage for other owners. Those are live there. Stateful tracks rent you receive and does not take the payment online.
If that operational suite is the bottleneck, Rentec Direct is the better fit. You can still keep each LLC's books in Stateful. See the other comparisons on the compare hub.
Questions
Can I switch mid-year?
Yes. Pick a cutover date, enter opening balances from the reports you already have, and keep the original records. Stateful does not import a Rentec Direct company file for you. Agree the date with your accountant before you rely on the new books.
Do I need one set of books per LLC?
If a separate LLC owns the property, that LLC needs its own ledger and balance sheet. A property or owner tag inside one company file does not produce that balance sheet. Stateful keeps a separate double-entry ledger for every LLC. This is a bookkeeping description, not legal advice about forming an LLC.
Does Stateful collect rent?
Not yet. You track rent you receive by check, transfer, or another method, and it can post to the LLC that owns the lease. Online rent payments are not available yet.
Keep reading
Which is right for you?
Choose Rentec Direct if you need online rent payments, tenant screening, or trust accounting for units you manage for other owners. Choose Stateful if you own the rentals and want a separate ledger and balance sheet for each LLC, rent tracking, and a Schedule E packet for your CPA.
Reports can be filtered by LLC. Compare the books and reports you can use today.
Compare the details that matter to you.
Check a real example with your ownership structure: the same properties, bank accounts, and reports. Multiple-entity support alone does not mean two products handle every scenario the same way.
Check the full cost
Use the same property or unit count and billing term. Include required add-ons, onboarding, and processing fees. Planned AI should not count as an available feature.
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