Add & Manage Lease Details to Rental File
1. Click Admin on the Main Menu.
2. Click on Customer Files.
3. Select Rental on the menu heading.
4. Click on the File Name to open the file.
5. Customer File will open. Click on Lease on the file tab ribbon bar.
6. Lease tab screen will open.
7. To edit details, click on Edit button.
8. The lease is split into five (5) sections, with certain fields being important for tenant statement processes:
- Rental Charge Details
- Deposit Requirements
- Occupation Date & Restrictions
- Occasional Costs
- Vacating Details
9. To confirm any changes, click Save Changes button.
Overview of Lease details sections
Rental Charge Details
Rental charge details include:
- Rental Amount (mandatory) and VAT (mandatory)
- Charge Frequency (mandatory): Once-Off, Daily, Weekly, Monthly. Quarterly and yearly.
- Active Lease (mandatory): This toggle with enable the lease for bulk statement processing. If the lease is to commence in the following month, enable the lease to be Active. If the lease is to commence at a future month, leave the lease as inactive and activate at a later stage. The same applies for tenant's vacating.
- Optional: Enable Automatic Charge to automatically charge the rental amount to the tenant statement according to selected frequency. If enabled, add the First Statement Date and End Statement Date (leave blank if the lease will be long-term or ongoing).
- Rent Due Date: is only required for TPN integration.
- Debit Order: is only for users that want to track leases with a debit order or not. Enable if you debit order day.
- Lease dates (optional): Lease commencement, Most Recent Lease Renewal and Lease Expiry/Cancellation dates. Dashboard notification will occur when Expiry/Cancellation dates are due.
- Escalations Details (optional): Rental escalation and Next Escalation Date will appear on the Bulk Escalation process screen as well as dashboard notification will occur when escalation dates are due.
Deposit Requirements
Deposit Requirement details allow the user to keep track of deposit requirements. (see How to manage deposit, deposit cashbooks & Investments)
- Deposit values will appear on your tenant charges screen to charge to the tenant statement.
- The values loaded under the lease tab can then be used to compare the deposit in a cashbook/investment versus deposit required.
The deposit on the tenant statement will appear as follows:
- Option a) The total of the deposit values will appear as the Deposit Held on the tenant statement.
- Option b) If the deposit cashbook is being imported, the amount held in the bank will appear as the Deposit Held on the tenant statement.
- Option c) If the deposit investment is being imported, the amount held in the investment will appear as the Investment on the tenant statement.
Occupation Date & Restrictions:
All fields in this section are optional. Occupation and restriction details include:
- Max number of occupants
- Occupation Date
- Credit verification date
Occasional Costs:
All fields in this section are optional. Occasional costs details include:
- Arrears Interest rate
- Late Payment Fee
Note: These costs will not automatically be charged to the tenant statement. These values are just a guide to know what to charge for this particular lease, user will still require adding these charges manually to the tenant statement.
Vacating Details
All fields in this section are optional. This section is to keep track of tenants that are vacating the property. (see How to manage Vacating Tenants)
- Enable the Vacate Notice: Tick Vacate Required. Fill in Notice Received date and Vacating Date. The file will then appear on the dashboard notifications when the vacate is due.
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