Setting up in-flight lettings

When using the system for the first time, it is likely that you will want to set-up existing in-flight lettings (for example, ongoing periodic lettings that have previously been managed in Excel or another system). In such cases, there are two options for how to set-up the letting:

1. Create full letting history
2. Start the letting from the next rent period

We strongly recommend Option 2 to avoid the large amount of data entry required with Option 1.

1. CREATE FULL LETTING HISTORY

In this approach, the full history of the letting is entered – including all tenant receipts and landlord statements. Enter the letting with the original start date, deposit details and fees. Record the full history of tenant receipts, and re-generate landlord statements as required.

2. START LETTING FROM NEXT RENT PERIOD

In this approach, rather than entering the full history, simply take on the in-flight letting from the next rent period:

• Letting start date: set the letting start date as the due date of the next rent period - this will set the rolling rent period and Rent Review Date. If the latter needs to be changed then the field can be edited in be in line with the original start date of the letting. 
• Deposit: if the deposit has already been paid and lodged, it can be left blank. However, if it has been lodged at a protection scheme or the agency is holding it and you would like to keep track of it, enter the details and record a historic tenant receipt for the full deposit amount – marking the deposit as held at the scheme.
• Letting fee: if the landlord’s letting fee has already been received from the landlord, leave this field blank.
• Management fee: this needs to be defined in order for the system to generate the correct management fee deductions each rent period.
• Arrears: if there are arrears still owing from the tenant, you can add these onto the due amount in the first rent period.  You can do this by clicking onto the Rent Schedule in the side-menu and clicking on the rent due amount for this first rent period.