Tenant Arrears 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.
- Click on the drop-down arrow next to the Edit button, 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. It evens works out the effective paid to date (which is the paid to date plus any part payment of rent divided by the daily rate and then it moves the date forward)
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 today's 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 today).
A third line will appear if the tenant has an end date and this will show the amount owing up to that date.
Note: The Owing amount to the 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 by checking when they paid, you can immediately pick up any discrepancies by reading them down.
Rent Changes- At the bottom of the report, you will see the Rent History section, which 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.
Please see the following article that may assist you: