Creating A Rent Increase

You can do a Rent Increase through the Rent Review area or you can do a direct rent increase

  • Go to the current tenant list
  • Find the required tenant and click on tenant name (Or click on edit)
  • On the right-hand side towards the bottom, you will see a Rent changes area
  • The first entry is normally their starting rent rate which will match their start date
    DO NOT DELETE ANY RENT CHANGES
    Rent_Increase.png
  • Click on Add Rent Change
    rent_increase_1.png
  • Palace will auto fill with a date 64 days in advance (Check that it falls on the correct day of the week that matches the start date)
  • Enter in the new rent amount

 

Then click Save

The change will not take effect until the paid-to date reaches the rent change date. Once it does, the new rent rate will apply.

NOTE: Do not delete any of the other existing rent changes in the list as they provide a history of what has been applied and are used during the Rent Report process.

 

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