Adjust Rent on a "Go-Forward" Basis from a Specified Date

We just added a new update to the Lease Settings screen which will allow you to adjust the rent (actually any kind of fee or payment) up or down from a specific date going forward.

We already had a feature where you can adjust a specific receivable/payment by editing it from the Lease Settings --> Payment Schedule tab, or the Rent Roll screen - this meant you could modify the amount due or date due of a single payment.  You could also delete a payment that is due as well in this manner.

What this new feature means is that you can now make a change from a date forward and apply that change to all of the subsequent due dates from that point on - this is helpful when you want to increase a tenant's rent (or decrease) part way through the lease.

The new feature is really simple to use - it lives on the Lease Settings --> Payment Schedule tab:

Hover over the row/item that represents the date/fee you want to adjust going forward, as you do so you'll see the "go-forward" icon appear for that row:

Click the icon/button and the "Adjust Amount Going Forward" popup appears:

Specify the new amount of from June 1 going forward (i.e. for the June 1 item and all rent after June 1).  Note that the amount you set is not the amount you are increasing or decreasing - it's the new, full amount that will be now due.

Click "Apply Adjustment" and your changes are finalized - you'll see now that on the Rent Roll screens and reports, and in the Collect Payment screen, that the new amount is expected for the date range you have selected.

 

Generating & Emailing Invoices For Your Tenants With SimpleRent

Generating Invoices

SimpleRent makes it extremely easy to generate, print, and email invoices to your tenants. Invoices can be generated for all tenants and receivables, or a selected subset of receivables or tenants. You can also choose to group all items for each tenant on one printed invoice, or group all items of a particular charge type together.  You can even have one invoice per line item if you choose.

To generate invoices, first select one or more receivable line items from the Rent Roll to produce an invoice for:


You can choose all items by clicking the check box at the top of the list. Also, as a shortcut, leaving all boxes empty also assumes you want to invoice all items.

Click the Print Invoices button:

The “Generate & Print Invoices” popup screen appears:


Controlling Which Receivables Appear on Invoices:

Your invoice generation & print options will reflect the current filters on the Rent Roll screen – if you have checked a select number of receivables, the “Filters” options on this popup will show “Selected Receivables Only” – if you have selected all, it will specify “All Receivables”.  It will also reflect any date filters, whether you have ‘Include Fully Paid Items’ or ‘Include/Exclude Closed Leases’ enabled or disabled, and the current ‘As Of’ date.  See the “Filters” paragraph of the “View Rent Roll” section above for more information about these filters.

Controlling How Receivables Are Displayed:

This popup screen also allows you to configure how the items are displayed on grouped into invoices.

The “Separate Invoices” dropdown list offers the following choices:

For Each Tenant: all receivables for each tenant will be grouped together on the one invoice.

For Each Tenant & Payment Type: all receivables will be grouped by tenant and payment type – receivables for each payment type will appear together on a single invoice.

For Each Amount Due: every receivable will have its own invoice.

All Items on One Invoice: all selected items on one single invoice.

Other options in the “Invoice Settings” panel include customizing the invoice date, starting the invoice # at a particular starting point, and prefixing the invoicing number with a number of set of characters (eg. for an invoice # of INV-231, use “INV-“).  Invoice numbers will start at the number you specify and increment for each invoice, based on the grouping settings you choose (each tenant, each tenant & payment type, etc).  The system will remember the last invoice # from the previous invoice run (across all users on your account) and increment starting from the last invoice number from the previous run.  Finally, you can also include an invoice comment – this comment will be saved for next time as well.

Once you have configured your invoices to display the way you want, click the “Print Invoices” button to generate them – the invoices are generated and shown in the Print View tab:

Each invoice (based on your separation settings) appears as a different page in the report.  You can export these to PDF files and print, save, or send, or you can use the “Email Report” functionality to email them either to yourself, a specific email address of your choice, or send each tenant their own invoices easily.

Emailing Invoices

SimpleRent makes it easy to email all the invoices you have generated for the month to your tenants – each tenant will receive only their own invoice, and you only have to click once to send them all automatically.

Note: obviously, in order to be able to email invoices to tenants you’ll need to make sure at this point that you have entered your tenants’ email addresses into their Contact Info panel of the Edit Person page.

Once you have generated an Invoice and it appears on screen in the Print View tab of the Rent Roll page, click the “Email Report” button.  The “Email Report” popup screen appears:

You can choose to email “Tenant Invoices”, which sends each tenant (with a valid email address in the system) a separate email (not CC:d, or BCC:d) containing their invoice as an attachment, or you can choose to send the invoices (as a single report, and single file attachment) to an email address of your choice with “One File, Single Recipient”.

You can also select a predefined Email Template for the email subject and body – for example, you can choose from the default “Invoice” email template, or create your own – see the “Email Templates” section for more information on creating and using email templates.

Finally, click the “Send Email” button to initiate the bulk email process.

Printing The Rent Roll Report

Printing the Rent Roll Report

You can generate and print (or export and email, etc) your complete Rent Roll report, or a subset of receivables.  Filter the rent roll on the screen first using the dropdown lists

You can adjust and select:

- All receivables or those for a specific property/lease
- All Due or Late, or a specific date range
- As of a specific date (eg. today, or in the future)
- Display or hide fully paid items in the rent roll report
- Show or hide closed leases

Once you are satisfied with the receivables to include, click the “Print Rent Roll” button:

The “Generate & Print Rent Roll” popup screen appears:

Controlling Which Receivables Appear on the Rent Roll report:

Your rent roll generation & print options will reflect the current filters on the Rent Roll screen – if you have checked a select number of receivables, the “Filters” options on this popup will show “Selected Receivables Only” – if you have selected all, it will specify “All Receivables”.  It will also reflect any date filters, whether you have ‘Include Fully Paid Items’ or ‘Include/Exclude Closed Leases’ enabled or disabled, and the current ‘As Of’ date.  See the “Filters” paragraph of the “View Rent Roll” section above for more information about these filters.

Controlling How Receivables Are Displayed:

This popup screen also allows you to configure whether to include any payment history for each receivable, whether to group receivables by Property (all receivables for a property will roll up together), and/or whether to group receivables by Owner (if applicable, all receivables will roll up by the property owner).

Once you have configured your rent roll to display the way you want, click the “Print Rent Roll” button to generate it – the report is generated and show in the Print View tab:

Emailing the Rent Roll

To email the rent roll, click the “Email Report” button on the Print View tab and the “Email Report” popup screen appears. Enter an email address, select a template (if applicable) and/or enter a subject and body for the message, and click “Send Mail” – the rent roll is sent as a PDF attachment.  See the “Emailing Invoices” section below for more information about emailing these reports, as the two procedures are similar.

Waiving Late Fees

Waiving Late Fees

Sometimes you will want to waive a late fee for various reasons.  To do so, click the “Waive Late Fee” button:

The “Waive Late Fee” popup appears to confirm the change:

Click “Waive Late Fee” and the late fee is removed from the Rent Roll list, and is no longer due for this month/week/lease period.

Overriding Receivables On Your Rent Roll with SimpleRent

Overriding Receivables

The amount due shown for each receivable is based on the amount predefined in the charge/fee settings for the lease setup. It is calculated by considering how much, if any, has been already received for that item. Late fee receivables are calculated based on the late fee settings for the corresponding charge/fee, and by how many days the charge is considered to be late.

There are scenarios where you want to override or modify the amount due for a specific charge item – perhaps you have an agreement with the tenant to accept a modified, or discounted amount for the month, or you want to receive less for this month, and more for the next month, etc.  On the Rent Roll screen you can easily changes to the amount due by clicking the override button:

The “Override Amount Due” popup appears:

Enter the new account for the charge, and click the “Save Changes” button.  If you want to remove this receivable and have this payment no longer due, click the “Delete” button.

Running Your Rent Roll With SimpleRent

Once you have properties, people (tenants), and leases added to your account, SimpleRent will now start to automatically generate payments due (receivables) for all of the active leases and charges & fees you have defined.  These receivables appear as line items on the Rent Roll and Collect Payments screens, and are covered in the following sections.

Rent Roll

The Rent Roll screen is a real-time depiction of every lease in your portfolio (and the associated properties and tenants that are linked), showing a summary of what’s outstanding, how late it is, and what’s owed.  Each line item (receivable) is calculated based on your leases’ settings, and the settings of the charges & fees that comprise them.

Rent roll can be generated based on what’s due today (now), or what will be due at any point in the future.  Late fees are automatically calculated and totaled.

View Rent Roll

To view your rent roll, click the Rent Roll button on the main toolbar:

The Rent Roll screen is shown:


Each line item is an amount due that can be collected separately, or combined and collected together in one payment (or split payments).

Filters:

You can filter the rent roll list to a particular property by selecting it from the “All Properties/Leases” dropdown list.  You can also show only those items that are “Due or Late” now, due this month, due next month, due last month, past 60 days, etc by selecting a date range filter.  The As Of date textbox lets choose the date that the rent roll is calculated from – you can use this to view rent roll due in the future, for example.  Finally, you can choose to hide or show fully paid items, and/or hide or show closed leases.