How to create a payment plan

10 June 2022

Photo by Nataliya Vaitkevich:

If you have come to an agreement with your tenant regarding a payment plan to pay back arrears, a payment plan can be created on myRent by following the below steps:

Step 1: Go into your chosen tenancy

Step 2: Go to Settings

Step 3: Go to Rent settings

Step 4: Select Payment Plan

Step 5: Answer the question > Would you like to reduce rent for a period of time to allow tenants to repay the difference at a later date?

Yes = Go to step 6

No = Go to step 7

Step 6: Fill in the temporary rent reduction details including start and end date along with the new temporary rent amount

Step 7: Fill in the repayment plan details including start date of repayments, repayment total, extra paid on top of rent and the reason for the plan

Step 8: Select Create Draft

Step 9: If your happy with the draft created, select Save and continue

Step 10: Choose between generating and signing an amendment that gets sent to your tenants to sign, uploading your own documentation or adding this at a later stage.

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