Overpaid rent balances will be highlighted on the property balances page under the Tenant arrears column as negative balances.
It is strongly recommended that users monitor and correct these before completing any payment runs.
1. Checking for overpayments
Navigate to Lettings properties > Property balances
Locate the Tenant arrears column and click on the column header (highlighted below)
The column will be sorted numerically and bring to the top any properties with a negative balance
2. Correcting a rent overpayment
If the rent has not yet been paid to the landlord, the overpaid rent can be reassigned as follows.
Navigate to Lettings properties > Property balances
Click on the value within the Tenant arrears column
At the top right of the page, click on Bank lines
Locate the bank line associated with the overpayment
Click on the edit pencil icon
Expand the Subcategory dropdown and select Rent overpayment
Make a manual payment to refund the tenant
When the debiting bank transaction is uploaded onto the system, assign this to the property as a Rent repayment
Note: If only part of the payment is due back to the tenant, the bank transaction should be split into Rent in and Rent overpayment by clicking on the bank transaction ID number. For further information on splitting a bank line, please click here.
Note: If the overpaid funds are paid out to the landlord in error, they will need to be recouped from the landlord before the tenant is refunded. For more information on this, please click here.
3. Tenant is in a negative balance, but the rent has not been overpaid
The rent has been paid early
The negative balance will be resolved when the rent due date is reached. Otherwise, users can reassign the transaction to the subcategory Offset rent and assign this to a future payment date. For further information on offsetting rent, please click here.
The rent invoice amount or date is incorrect
These can be easily updated on the tenant ledger. For further information on updating rent due dates, please click here.
A list of all balances assigned to the subcategory Rent overpayment can be found by following the instructions below:
Navigate to Lettings properties > Other balances > Overpaid rent
Click on the balance to view the corresponding bank transactions