Change rent payment frequency

1. Check the Raise/View Invoice screen for the next rent due

Best practice is to set the change in line with the current rent schedule - the change will not impact raised invoices - otherwise, previously raised rent and management fees should be deleted if unpaid, and the rent invoiced up to date amended

Open

2. Add renewal, alteration or fee option

From tenancy, Financial & Renewals tab:

• In the Renewals / Alterations / Fees panel (at bottom), click  

• Ensure Add renewal, alteration or fee option is selected and click Accept
  The tenancy renewals and alterations screen is displayed - see step 3

  Open

  

3. Enter new details

From tenancy renewals and alterations screen:

• Ensure Alteration is selected

• Enter the date the change is to take effect using the From date (top section)

  • Below this, Reset instalment start date should be ticked if you plan to change the rent due date
    For example, if the tenant was paying monthly on the 1st and they instead wanted to pay monthly on the 15th

• Under Rent, change the Payable setting
  If required, you can change the rent amount to take into account any rounding when switching between frequencies

• At bottom right of screen, change Management Fee Frequency to match the new rent frequency

• Click Accept

4. Check the rent schedule

• The final step is to check the Raise/View Invoice screen to ensure the new schedule is behaving as expected - your rent and management fees should appear on the same line

5. Alteration shown on tenancy

To give a complete history of changes, a list of all alterations are shown on the Financial & Renewals tab