Get to know myRent with a quick overview video:

How to set up rent for an existing tenancy that is being onboarded

16 May 2022

Photo by Hemanth Nirujogi: https://www.pexels.com/photo/beige-fabric-sofa-2555635/

When creating a tenancy on myRent that is for an existing tenancy there are a couple of key considerations for ensuring the rent statement is set up as intended. We recommend to use the steps below:

Step 1: When you get to the rent part of the tenancy setup, click on Set up your rent

Image Description

Step 2: Select Add your bank details

Image Description

Step 3: Then either select an existing account from the dropdown and choose Select bank account or select Add a new bank account followed by adding the details and selecting Save bank account

Image Description

Step 4: You will want to choose the Conversion date (Starting date of the rent statement) and click on Preview

Image Description

Your Conversion date is the day when you will start keeping track of all rent transactions on myRent. (Note: You can also use a past date as your conversion date provided you’re able to enter all rent payments that have taken place).

Generally, when setting up existing tenancies, we recommend starting by recording rent from when you start using myRent for the smoothest transition, with the option to configure this at a later stage to add the historic rent payments once everything is up and running smoothly.

You can do this by following the steps here.

Step 5: The rent due day will default to the same day as the agreement start day, so if this had changed since the tenancies start date you will need to do a change of due day.

Step 6: Once the rent statement looks correct, click on Looks good! Let's continue

Image Description

Step 7: Next, choose your rent collection method

If you’re getting stuck with setting up the rent statement as intended, please contact our dedicated support team by emailing hello@myrent.co.nz

Back to resources

Our services

shop-sign

Advertise your rental
from $60

Includes a listing on Trade Me, realestate.co.nz, OneRoof, and Homes.co.nz.

Learn more

Tenant checks
for $35

Rent with confidence and make informed decisions with comprehensive tenant checks.

Learn more

Self-management platform from $19/month

Save time and money. Rest easy with our self-management platform. Start with a free trial.

Learn more
video-player-movie

Get to know how myRent works

Not quite ready to sign up?

Subscribe to our weekly newsletter read by 40,000+ landlords. Get updates on important tenancy law changes, tips on maximising rental returns, and more great resources.