Overview
When you create a lease, a recurring rent charge/schedule will automatically be created. This is the amount of rent that will be posted each month on a specific date. Normally this is posted on the first of each month, but you can change this to any date and any frequency. Here's how you would change that.
The Steps
To edit a recurring rent charge, click Leasing on the main menu and then click Active Leases.
Find the lease you want to edit terms for and click on it.
Click the Rent tab and then click on the Recurring Rent Charge that needs to be edited.
The Recurring Rent window will now be shown. Here you'll be able to update the following:
Start Date: This will change the date when the rent will post
Frequency: This will change how often it posts
Amount: This will change the amount that is posted
Click Save to finish.
Note: DO NOT edit the Start Date with a date in the past. Only edit the start date for a future date. Entering a past date may cause charges to be posted again for previous dates which will then later need to be deleted.
That's it. After you save, the updated Recurring Rent will be adjusted. Depending on what you have changed, the changes will take effect on the Next Charge date shown.
Tip: You may also want to check the Transactions tab on the lease in case a recurring rent was already posted with the old amount. You can click the rent charge that was posted and edit the amount to the new amount.
Tip: If a lease expires and recurring rent charges stop posting, updating or reactivating the recurring rent schedule will only resume future rent postings. Any rent charges that were missed during the expired lease period will need to be manually posted for the affected months to ensure the tenant ledger and accounts receivable remain accurate.