The Rent & Outgoings page of the Tenancy file contains the templates.  The Rent Template sets the amounts and frequency of billing for the tenants rent and other regular charges, such as outgoings that need to be included on the same invoice.

Outgoings can also be set up as a separate template - see Outgoings Templates.

When loading a new Tenancy, the next due date will be calculated based on the First Payment date and frequency.  Automatic rent invoicing only goes forward.

Access the Rent & Outgoings Templates by opening a tenant, and selecting Rent & Outgoings on the left menu:

Click on the amount link to access the current template to view or edit the details.

There can only be one current Rent template at a time, view past and future templates using the Rent tab at the top.

Example 1: Rent template with Outgoings charges included on the same invoice:

Example 2: Rent template with rent only on the invoice, separate template for Outgoings (note there can be more than one Outgoings template at the same time):

The Rent Template contains:

  • a Description, this does not appear on the invoice and is for internal use only.
  • a Reference which appears on the invoice to the tenant and during reconciliation.
  • an area to make Notes for internal reference.
  • the option to Delegate to member and select another user to receive the Final Rent Due notification on the Dashboard.
  • assign a PDF Template if this invoice should be raised using an Invoice Template which differs from the default.
  • the rent can be entered to either Monthly Net Rent or Annual Net Rent and the other will calculate:
    • If an Annual Net Rent is entered that does not match 12 x monthly the user can choose to recalculate the monthly figure, or ignore the discrepancy.  The Tenancy Schedule shows the Annual Net Rent;
    • If the payment frequency is not monthly, the label for the field changes to match the selected frequency, and the annual rent calculation adjusts accordingly.
  • the Rent Billing Basis can be In Advance, meaning rent is due on the first day of the rental period, or In Arrears, meaning rent is due on the day following the end of the rental period.
  • the Rent Type options can be customised in the Settings Menu:
    • each Rent Type can be set to populate the Account for the Rent Invoice Template Lines;
    • Rent Type is optional to display on the Tenancy Schedule report;
    • the Rent Type is does not refer to tax rates, although the default terminology is similar.
  • the Payment Frequency sets the rental period, and can be any number of weeks, months or years.  For irregular payment patterns set up a Custom Payment Frequency.
  • the First Payment date works with the Payment Frequency, and sets the start of the rental periods for this tenancy:
    • often this is the 1st day of a month;
    • it does not need to be the same as the terms for the tenancy;
    • it is important to consider the existing First Payment Date when performing rent reviews or setting up new rent templates to avoid unwanted adjustment to the billing cycle;
    • If the payment frequency is monthly and the first payment date on your rent template is set to the last day of the month (eg. 28th of February or 30th of April) an option is displayed - 'Always on the Last Day of the Month'. By selecting this, it means all rent invoices generated from the template will always be due on the last day of the month regardless of how many days are in the month. If you select the 31st of January for example, the checkbox isn't shown but this will also automatically set the due date to the last day of the month.
  • Rent Invoice Template Lines, each with:
    • a Description, the default description contains merge fields inside brackets - {{ }} as below:
                    Rent for {{ PropertyName }} for {{ FromDate }} to {{ ToDate }}
  • the Net Rate, any tax applicable will be calculated for each line, this amount can be negative provided the overall rent is a positive figure, users with trust or client accounting may only enter negative lines if all lines use the same ledger
  • the Account should be an income code
  • Tax Type will auto populate to match the account code selected, editing the tax type will result in a sync error for companies connected with Xero
  • Users with trust or client accounts will see the applicable owners ledger selected
  • Users connected with Xero will see the property tracking selected
  • Each line should be marked as Outgoings? = no for rent and yes for non-rent or Outgoings and Service Charges
  • Add more lines as required, all rent lines where Outgoings? = No must add up to the Monthly Net Rent figure as entered above
  • the Save button keeps any changes, when a rent changes it is recommended to add a new rent template, so that you retain a record of previous rent details
  • use the option to Edit Rent to Area Allocation to divide the rent over the occupied areas with this tenancy, the details entered here appear on the Tenancy Schedule report
  • remove this template with the Archive button, archived rent templates cannot be retrieved

Rent Template Status

There can only be one current rent template at a time, the start date determines the order of the templates and therefore it's status.  Click open the sections for Future and Past rents to view the full history of a tenancies rent changes.

Future Rents remain listed as 'Future' until the start date.

The future rent above won't show as current until the start date, but the next invoice will use this template: