Rent Overdue Reports and How To Read Them

There are two main Rent Overdue reports in Palace, also the calculator is very handy as well. We recommend that all three are used for Tenancy Tribunal hearings

Tenancy Details Report

This report is very comprehensive with all the information you need about the whole tenancy right at your fingertips.

  • Go to the Tenant List, find the relevant tenant.
  • Right click, go down to reports, click on the top one - Tenancy Details Report
  • Make your selection. We recommend ticking All Transactions and Correspondence if using this report for Tenancy Tribunal

 

Financial Details: This area shows where the tenant is paid to currently, how much they pay, when they started and what they currently owe.

Rent in Credit/Part Payment: Any amount that has not made up a full period (or day depending on your settings)

Owing To: The first line shows any amount owing to todays date(or the date selected when running the report). The second line shows any amount owing to the end of the next full period. The example above actually shows the same amount as today is the end of the tenants period but quite often you will see a different amount. Tenancy Tribunal will require the top amount (owing to day).

A third line will appear if the tenant has an end date and this will show amount owing up to that date.

Note: The Owing amount to end date on this report does not take into account any planned rent increases that are scheduled past the paid to date.

Bond and Letting Fees Details: This area will show all the letting fee and bond payments and receipts

Bond Other Ledgers: This area will give you a total of all transactions that have used the category "Bond Other", this may cover water rates etc. It will show you all receipts in and all payments out. (Payments for Bond other ledger, are made with "Refund Bond Other" transactions.

Transaction Details: It shows you when they paid (date) and what period it covers (Paid from and to), how much they paid (amount) and if they have any rent in credit/part payment as a result of that receipt (Part Payment). You should be able to follow the lines through checking when they paid, you can immediately pick up any discrepancies by reading down.

Rent Changes- At the bottom of the report you will see the Rent History section, this shows all rent changes that happened during this tenancy or confirmed for the future.

Diary Entries: This will give you a list of all the diary entries against this tenancy that have been ticked for Print.

 

Rent Summary Report:

Before you go to Tribunal, you must make sure that the Tenancy Details Report and the Summary of Rent reports match, if they don't then you must fix them before you print out.

This is the actual report that is recommended by the NZ Tenancy Tribunal. THIS REPORT DOES NOT SHOW 'PAID TO' DATES.

  • The first 4 columns show what should have happened, the date the payment was expected and the period it covered.
  • The right hand columns show what actually happened, so by the sample you can see that the tenant did not pay the first weeks rent and now it shows as $230 in arrears.
  • Any gaps in the right hand side means the tenant missed a payment
  • Any gaps in the left hand side means the tenant paid an extra payment in that rental period

NOTE: The bottom of the report will show you what they owe up to today (or the day chosen when running the report). You might see an adjustment if your Palace is set on Midday to Midday calculations.

 

 

Calculator Report:

This report shows the rent that the tenant should have paid during their tenancy and the actual amount they paid, showing the difference. This is a excellent report to put with the summary of rent report to show the arrears to a tenant.

This report can also be used to calculate the amount of rent due up to a vacate date. The vacate date is entered in, and the calculator automatically works out the rent up to the vacate date.

  • Find the tenant that you require, right click
  • Click on Calculator
  • Check the dates and change if needed

  • To print - click on the printer at the top right hand side.

It is easy to read, it tells you that the tenant moved in on the 12th April 2010 and vacated on the 27th June 2012, they were in the property 808 days at a rate of $330.00 a week. They should have paid $38,089.12 but they actually paid $37,950.00 (you can see this in the Total Rent Paid area)

Which means the rent due is $139.12 (They are in arrears by this amount)

 

Related Links:

 

 

Was this article helpful?
0 out of 0 found this helpful
Have more questions? Submit a request

Comments

Article is closed for comments.