When creating the payment schedule in your tenant's contracts, we offer flexible rent schedule creation. This includes, introducing and deducting a holding fee, multiple months with reduced or increased rent prices and flexible payment dates.
The Rent Split Functionality allows you to create the rent schedule that suits you whilst still keeping compliant within our AST templates. You can use the functionality to choose the date when you'd like to receive the rent, the due date of the first month and create and deduct holding deposits.
Once you have entered the information that you would want in your contract, you will be directed towards a payment schedule that you can freely edit including the dates and amounts. *Please make sure whatever edits are made on the rent split page are also reflected accurately in the AST builder page beforehand.
If you want to incorporate a charge a specific tenant eg. car parking/ pet charges, you can use the "Add Another Payment" at the top of the table and this will feed into the tenant's rent schedule. You can also add this afterward with the 'create a payment' button on the payments table at any time throughout the tenancy. *We recommend making sure this is agreed with the tenant and a document is signed before you add this payment onto their visible schedule.
If you have a couple in one tenancy, you can use the split rent percentage or the amounts if the two tenant would like to pay separately and even have specific reference codes for your tenants which you can edit at the end of the page!
Please see a video guide below which takes you through the entire process.