Record tenant details by either selecting an existing tenant instance or by specifying the details of a new tenant.
The option exists to record details of a guarantor.
The Rental Period represents how often the tenant will be required to pay rent, e.g. per week or per month. By specifying the Tenancy Start Date and Tenancy Duration a Tenancy End Date will be automatically calculated for you.
The Rent value reflects the rent due per Rental Period, e.g. per week or per month, and consists of two components: the Tenant Component and Benefit Component. The Benefit Component equates to payment received from a housing benefit agency, if any. The Tenant Component is that portion of the rent payable by the tenant. It most instances the Recipients of both these rental components will remain at the default value – ‘Letting Agency’. If, however, the landlord receives this component of the rent directly then adjust the Recipient component accordingly.
The ‘Let Only?’ flag should be used if the letting agency will not be responsible for the day-to-day management of the property. When this flag is used the property associated with the tenancy will be excluded from rent alert reports but you will still be alerted when the tenancy is due for renewal.
Use the ‘Letting Fee’ to specify any tenant finding, or renewal fee associated with the tenancy. The Letting Fee will be automatically applied to the account of the owning landlord on the first day of the tenancy.
