Processing a Rent Review Reminder

 

This tutorial will take you through how to process a rent review from your dashboard. You can view this in full screen and have the option to Try It (click through the tutorial), View It (a scrollable format), Watch It (watch the tutorial), or Print It (which gives you a PDF to download)... the choice is yours! Click Start

 

18 STEPS

1. First go to your Dashboard

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2. Click on the reminders tab

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3. To process the rent review reminder you can either click on the Edit button at the end of the reminder 

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4. or you can tick the reminder and click the Process button

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5. A pop up box will open. The review comment you entered when you added the rent review date in the tenancy screen will show here.

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6. and the tenant's current rent rate

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7. Next you need to choose whether or not you want to implement a rent change for the tenancy. The default is set to Yes.

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8. You can also see the date of the last rent increase to check that this increase is not taking affect within a 12 month period.

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9. The new rent change date hasalready been calculated by Palace. This date is calculated as 64 days fromtoday as required and then Palace aligns the rent change date to match the dayof the week that the tenancy started on.

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10. Here the tenancy started on aSaturday so Palace has automatically set the rent change to happen on aSaturday. This ensures that the rent change takes affect at the start of the rentweek and eliminates the issue of part week calculations

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11. Enter the new rent amount

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12. Now set the next rent review reminder date. You will need to click on the date in the calendar dropdown for this to update

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13. Add a comment for the next rent review reminder . This may be a note as to what the rent change amount was or what it needs to change by next time, as an example
If the comment is the same as last time you can click on copy previous comment

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14. Click Process to process the rent review reminder. Upon processing the rent change you have entered will be added to the tenancy

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15. If you do not want to process a rent change at this time turn the button next to Would you like to implement a rent change for this tenancy to No

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16. Even though you are not implementing a rent change at this time you still need to set the next rent review reminder date. You will need to click on the date in the calendar dropdown for this to update

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17. Add a comment for the next rent review reminder. This may be a note as to why there was no rent change implemented at this review

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18. Click Process. This will close off the rent change reminder and update the rent review date in the tenancy

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Here's an interactive tutorial

https://www.iorad.com/player/1834929/Processing-a-Rent-Review-Reminder

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