Setting up fees (connected & standalone customers)

  • Updated

This article outlines the steps for setting up fees or commissions within Re-Leased. It's important to note that late fees are handled differently; you can learn more about that here. Please be aware that if you're using the Client/Trust Accounting version of Re-Leased, these fee settings are not the same; you can learn more about that here.

 

To get started, you need to ensure your company is set up to raise fees by following the steps below.

 

Assigning Contacts

Ensure all properties have an owner contact assigned.

 

Set the From contact used for fee expense invoices. This is located under:
Settings > Manage Companies > Edit Company > Invoicing > Fee Invoices.

 

Create a Fee Rule

Navigate to Settings > Fees to set up and manage fee rules. The company you are configuring will be displayed at the top.

Keep in mind that fees can't be shared between companies; they must be set up individually for each.

  1. Click on Create New Fee Rule Definition.
  2. Enter the Title of your fee, which will be how it appears on invoices.
  3. Choose a Fee Type: Property Fee or Tenancy Fee.
  4. Set the trigger under Raised at occurrence of, which determines when the fee is charged.
  5. Select the accounts affected by this fee by choosing from the Chart of Accounts.

new fee.gif


Details on Different Fee Types:

Property Fees: Charged per property, with the option to specify account codes for both income and expenses.

Tenancy Fees: Charged per tenancy and assigned to the owner. If a tenant charge is required, use an income invoice instead.

Trigger / Type

Description

On a Date Schedule

Set and forget fixed price regular charges.

Rent Demanded

Charges fees based on 'rent' invoices generated.

The fee is based on all line items on the rent template, which includes operating expenses/service charge on the same invoice as the rent. If your charges are for the rent portion only, and there are other charges on the invoices, use Money In/Out of an Account instead.

Rent Receipted

Charges the fee based on receipts to 'rent' invoices, which have been generated automatically according to the tenant's rent template, or using the Generate Next Invoice or Generate Once-off Rent Invoice options on the Rent and Outgoings page of the Tenancy file.

The fee is based on all line items on the rent template, which includes operating expenses/service charge on the same invoice as the rent. If your charges are for the rent portion only, and there are other charges on the invoices, use Money In/Out of an Account instead.

Money In/Out of an Account

Charges fees by account code, this is used if rent and operating expenses/service charge are invoiced together, but the fees are charged at different rates. This is also used for charging fees on expenses paid for the related property on expense invoices.

 

Customizing Your Fees

Once you've created a rule, you can:

  • Select which expense code the fee should record against.
  • Enter the fee amount or rate, and specify if it should apply to new accounts.
  • Choose an effective date and, if applicable, set the fee based on a rental period.

Record raised fee against this account - Fee invoices will use this expense code, this can be customised per customer

Flat Fee Amount or Percentage - Enter the standard rate for this fee rule, this can be customised per customer

Apply to New - Select Yes if this fee rule should automatically apply to new properties/tenancies

Effective Date - Enter the date you want this fee to be effective from. This date must be a date in the future. If you want the fee to be effective immediately, this can be selected from the drop-down menu.

 

Fees can also be customized for individual properties, or tenancies after the rule is created.

customise fee.gif

 

Selecting and Confirming Fee Application

You can then select which properties, or tenancies to include in the fee rule. Untick any that the fee should not apply to. Use the filter feature to streamline this process. After selection, confirm the details and save your fee rule.

 

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