Applying a future dated rent reduction

Owned by Fiona Hardy
Mar 07, 2023
2 min read

This guide has been reviewed against our global client base and classed as relevant to all regions

This article explains how to apply a permanent or temporary rent reduction against a tenancy, by creating an alteration - note that creating an alteration will only change future rent invoices that have not yet been raised

1. Review the current rent schedule

To keep the tenancy ledger as clean as possible, it is recommended to line up any rent reductions with the rent due date - if that is not possible, and the rent reduction is due part way through an unpaid rent period, the system will automatically calculate the pro-rata amount due

From the tenancy that the rent reduction should be applied to:

  • In the Accounts Functions panel, click View/Raise invoice to view all future rents due

2. Create the alteration

Once you have confirmed the start date for the rent reduction to take effect

From the tenancy:

  • Click the icon to the right of tenancy Status

  • Ensure Add renewal, alteration or fee is selected and click Accept

3. Enter the new rent details

  • Ensure Alteration is selected

  • Enter the From date
    This is the date that the change will take effect

  • Enter the new Rent amount and click Accept

 

 

 

Rent invoices previously raised will not be changed

 

4. Check the rent schedule

Confirm you have entered the reduction correctly

From the tenancy, Accounts Functions panel:

  • In the Invoicing section, select View/Raise Invoice to check the rent future rent schedule

If the rent is collected by Direct Debit, ensure that you also adjust the direct debit collection if necessary

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