Managing and Understanding Recurring Rent Charges in Rentvine
Recurring rent charges are a key feature in Rentvine, enabling property managers to automate and streamline tenant billing. This article provides an overview of recurring charges, notifications, adjustments, and reporting to help you effectively manage these processes.
Overview of Recurring Charges
Recurring charges are automated charges applied to tenant leases on a regular schedule. These charges are typically set up at the lease level and can include rent, utilities, or other recurring fees.
Notifications and Timing
Tenant Notification Timing: The "Upcoming Recurring Charges" notification is sent to tenants 21 days before the charge’s due date. This ensures tenants are informed well in advance of their payment obligations.
Future-Dated Charges: Charges with future due dates are not displayed to tenants or included in their payable balance until they become due. As a result, these charges do not trigger payment notifications before their due date.
Adjusting Recurring Charges
Changing Start Dates: To adjust the start date of a recurring charge (e.g., from July 1 to August 1): - Navigate to the lease’s Recurring Charges section. - Click the three dots (…) next to the charge and select "Edit." - Update the Start Date to the desired date. - Save the changes.
Auditing and Reporting
Identifying Leases Without Recurring Charges: While Rentvine does not provide a direct report for leases without recurring charges, you can use the following workaround: - Create a Lease report. - Add a filter for "Recurring charges count." - Set the operator to "equals" and choose a number (e.g., 0 or 1). - Review the filtered report to identify leases missing charges.
FAQs
Why do upcoming lease charges show a higher amount than active recurring charges? Upcoming charges include both recurring charges scheduled to post within the upcoming posting window and any future-dated charges already added at the lease level. This can result in a higher upcoming balance compared to the currently visible recurring charges.
By understanding these aspects of recurring rent charges, you can ensure accurate billing, timely notifications, and effective lease management in Rentvine.