Changing the rent payment date

By default, the rent schedule is generated with the rent being due from the tenant in advance, at the start of each rental period. However, this can be changed to be in arrears, at the end of the period, or for monthly schedules, at a given day of the month.

  1. Click onto the "Rent Schedule" page in the side-menu for a letting
  2. In the "Rent Definition" section at the top of the page, click in "In Advance" link under "When Rent Due":
  3. In the pop-up, change the rent to be due in arrears, or on a given day of the month:

 

Adjusting the rent payment date with a pro-rated rent

An alternative approach to changing the rent payment date is to have a shortened rent period from the end of the last rent period up until the new rent payment date.  

For example, if rent was initially due on the 25th of each month, but from October it was due from the 1st of the month, then by using the "Rent Adjustment Date" field on the letting details page, the system can create a short rent period from 25th September up to 30th September, and then full monthly rent periods from 1st October.  The rent due for the shortened rent period will be pro-rated accordingly.

  1. Go to the letting details page for the letting
  2. In the “Advanced Details” section at the bottom of the page, click “Edit” next to the “Rent Adjustment Date” field
  3. Enter the date on which new recurring rent periods will start (1st October in this example) and click “Save”. The system will adjust the rent schedule accordingly, pro-rating the rent due for any short rent periods created as a result.
Have more questions? Submit a request

0 Comments

Please sign in to leave a comment.