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How to create a rent reduction/holiday

29 October 2021

Photo by Max Vakhtbovych from Pexels

You can create a rent reduction or holiday by following the steps below:

Step 1: Go into your chosen tenancy.

Step 2: Go to Settings.

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Step 3: Select Rent Settings. Image Description

Step 4: Select Rent reductions and holidays. Image Description

Step 5: Add the start and end date for the rent reduction (if the reduction is ongoing you can leave the end date blank) Also add what the new weekly rent should be during that time along with a reason for the reduction.

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By default, the system will only display future rent period start dates.

To select a past date or another future start date, you can select show all dates. Image Description

TIP: If a rent reduction starts and/or ends partway through a rent period, a prorated charge will be created. To avoid this, a rent reduction should start on the first day of a rent period and, if ending, end on the last day of a rent period (you can see your rent period dates on the current rent statement shown on the page).

Step 6: Select Preview and view the rent statement below to make sure you are happy with how the changes appear. Image Description

Step 7: Once you're happy with the changes, Select Save. If the rent statement doesn't appear as intended, Reset shouldn't be selected so you can try different dates and/or amounts followed by selecting Preview again. Image Description

Step 8: As this is a variation to your tenancy agreement that needs to be recorded, you will need to select one of three options. Image Description

A) Generate and e-sign an amendment Once done your tenant will get a notification to sign this as well.

B) If you already have your own amendment signed by all parties you can upload this by selecting Browse to choose your file then Upload.

C) You can choose to upload or create this at a later stage.

If uploading your document at a later stage you can do this on the Tenancy agreements page under Other documents.

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