Setting Up Custom Rent Payment Frequencies

For our Asia-Pacific users, certain terms may differ from those used in other regions. For instance, "Tenancies" are referred to as "Leases" in North America, and "Outgoings" are known as "Service Charges" in the UK. For further information on regional terms, check out our Glossary of Regional Terminology.

This article will guide you through creating and applying custom rent payment frequencies within Re-Leased, enabling you to manage rent schedules that do not follow traditional payment intervals. Whether you’re dealing with tenancies that have rent-free periods or need to spread annual rent across non-standard monthly payments, custom payment frequencies can accommodate these unique arrangements. 

Accessing Custom Payment Frequency Settings 

Custom Rent Payment Frequencies are configurable only via the Settings Menu. Here are the steps to access this feature: 

1. Click on the Settings option.
2. Within the General section, click on Custom Rent Payment Frequencies. 

Managing Custom Payment Frequencies 

You can either modify an existing payment frequency or create a new one: 

1. To edit or archive an existing option, click on the relevant name link. 
2. To create a new frequency, click on Create Custom Payment Frequency. 

Creating a New Rent Payment Schedule 

Follow these steps to add a new custom rent payment schedule: 

1. Click on Create Custom Payment Frequency. 
2. Input the desired custom schedule details. 
3. If rent needs to be prorated by the number of days in the period, ensure to select the Prorate checkbox. 
4. Click Save. 

Applying Custom Payment Frequencies 

Setting Custom Payment Frequency for a Lease/Tenancy 

To assign a custom payment frequency to a lease/tenancy’s payment schedule: 

1. Go to the main menu and select the required Lease/Tenancy. 
2. Locate and click on the Rent & Outgoings option from the sidebar. 
3. Choose an existing rent or add a new one. 
4. Use the Payment Frequency dropdown to select your custom payment frequency. 
5. Pick a starting date from the schedule for the first rent payment. 

Remember, for simple quarterly rent dues, you may use the built-in quarterly frequency option. Custom payment frequencies are most valuable for irregular payment schedules that don't align with standard intervals. 

Selecting the First Payment Date 

When selecting your first payment date: 

1. Ensure the chosen date aligns with your custom schedule and lease/tenancy agreement. 
2. Adjust the year accordingly to match the lease commencement. 

By following the steps above, you can apply custom rent payment frequencies within Re-Leased with ease, tailoring your property management to fit varied lease/tenancy agreements.