This guide has been reviewed against our global client base and classed as relevant to all regions
This guide explains how to set up Rent Guarantee where the rent received from the tenant is paid to a company/supplier record - the rent guarantee is then paid to the landlord, from funds held on the supplier
Setup Rent Guarantee details
1. Setup amount, start/end dates & fee From the property:
In the Rent Guarantee section, enter:
Existing tenancies If you are entering the details of an existing Rent Guarantee tenancy into the system (e.g. as part of data entry), the Guarantee start date will be the date of the first payment in the system - putting in a date in the past will cause the system to backdate invoices |
Create Rent Guarantee invoices
1. Select invoices From Lettings/Rentals, click Daily Accounts Processes
| To see a breakdown of the amount to be raised, double click on the line |
2. Paying Rent Guarantee invoices Each time a tenant pays rent inside of the Rent Guarantee dates, the rent will be transferred to the Supplier ledger To avoid having to manually allocate each receipt, from the supplier record:
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3. Receipt payment
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4. Landlord Transactions There will now be a Rent Guarantee credit on the landlord This will be included in the Landlord Payment Run |
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