To create a let only tenancy agreement, please follow the steps below:
Go to Tenants > Create tenancy (let only)
Select the address of the property
Select the relevant agreement template
Ensure the incoming tenants are ticked under the Select column
Information on the data to be entered in each section can be found below:
1. Tenancy payment
Set the date of entry for the property (move-in date for tenants).
Ensure the rent amount and payment frequency are correct.
2. Pro rata payment
This section can be used should the tenant wish to change their rent due date, if the agency deals with 1st of the month collections or if the tenants are making an upfront payment.
Please leave this section blank if not required.
2.1 1st of month collections/tenant wishes to change their rent due date
Pro rata date: The date in which the tenant is to make their first full rent payment. For example, if the client moves in on the 15th March but would like to pay on the 24th of each month, set the pro-rata date to 24th March. Similarly, set if the tenant is to pay on the first of each month, the pro-rata date would be the 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 rent payment due date. Click on the Calculate pro rata rent button to auto-calculate the partial amount due.
2.2 Upfront payments
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 tenant is paying upfront. When the pro rata date has been set, click the Calculate pro rata rent button to calculate the advanced rent amount.
3. Deposit details
Set the required deposit amount.
Selecting the deposit scheme name is optional and only required if your tenancy agreement template includes our deposit scheme merge fields.
Note: Your system superuser can amend the default deposit scheme name that appears here by going to Admin > View all employees > Admin page > Financial > Deposit schemes.
4. Landlord payment
Enter the regular payment date to the owner - this defaults to 14 days after the tenant rent payment date.
The monthly amount is calculated as the full rent minus your management fee.
If you would like to make an extra payment to the owner enter this date in the Additional payment field (only applicable for pro-rata payments).
5. Fixed term
Applicable to English, Welsh and Irish clients only.
Set the length of the tenancy by selecting one of the default options.
If none of these options are applicable, enter the end of fixed term date in the Enter alternative date field.
6. Overwrites
In order for the landlord's bank details to appear in the lease in place of the agent's the overwrites section must be filled out.
Click on the Overwrites bar
If the landlord's bank details are held within the property record, click on Copy property bank tab to auto-populate their details
If required, the landlord's bank details can be manually entered into the Overwrite default bank details fields
Note: Landlord's bank details must be entered within the Finance tab of the property record so that they pull through to the standing order. The overwrites function mentioned above only overwrites the generated lease.
7. Document options
Select documents to create: Defaults to generate all documents, update this dropdown to generate the tenancy agreement alone or to generate no documents at all.
Download Tenancy Agreement as a Word document: Tick this checkbox to download the tenancy agreement in Word document format. Please note, this cannot be used if the agreement is to be electronically signed.
Set property status to awaiting move in: If ticked, the property status will automatically update to Awaiting move in when the tenancy has been created.
Use pre-printed headed notepaper: If the agreement is to be printed onto pre-printed headed notepaper, tick this checkbox.
Use electronic signatures: If the agreement is to be signed electronically via Signable, tick this checkbox.
8. Document creation
Once all the required information has been entered, the tenancy can be created. There are two options available when it comes to generating the documents, please select the relevant option:
Create tenant documents - documents will be generated in separate pop-up windows.
Create documents and email - documents will be generated as above and a pre-populated email to the tenants and any guarantors (if applicable) will open. This email contains URL links to the generated tenancy documents.
9. Signable
If Use electronic signatures was ticked at the point of creating the tenancy, users will be automatically redirected to the View open Signable documents page in a new tab.
To send a document for electronic signing, click on the tick icon within the Send column.
We recommend that you revise the generated agreement prior to it being sent for signing.