1. 1st of month collections
If the tenant moves in during the month but the agent would prefer that they pay on the 1st of each month instead, the pro rata payment section on the Create Tenancy page can be used to detail this.
Pro rata date: This would be set to the date on which the tenant is to make their first rent payment.
For example, if the tenant moves in on the 15th March their first full month's rent payment would be made on 1st April.
First rent payment: This will contain the pro-rated amount for the period from the lease start date to their first full month's payment date. When the Pro rata date has been set, click on the Calculate pro rata rent button to auto-calculate the amount due.
In the above example, the system will calculate the amount due from the 15th March to the 1st April.
2. Advanced rent payment
If the tenant has made an advanced rent payment (for example, 3 or 6 months rent) upfront, the Pro rata payment section can also be used to detail this:
Pro rata date: This should be the date 3/6 months after the date of entry
For example, if the tenant moves in on the 15th March and is paying 6 months upfront, the pro-rata date would be set as the 15th September
First rent payment: This should contain the amount of rent the tenants are paying upfront
When the pro-rata date is set, click the Calculate pro rata rent button to auto-calculate the advanced rent amount. It should be the rental amount multiplied by the number of months upfront the tenant needs to pay.
PLEASE NOTE: Once you have completed the above steps for the advanced rent payment, you will also be required to update the Rent In Ledger should you wish to pay the landlord in monthly installments rather than the full amount.
Please navigate to the Rent In Ledger for the property, click on Update Due Dates, select the tenancy start date, set payment made as monthly and ensure the monthly rent amount is correct then click Submit.