Use this tab to add or edit recurring charges for the
resident or lease. Details displayed at the top of this tab are for reference
only and cannot be edited.
Note
A red asterisk ( * )
indicates a required field or selection.
Quoted Rent *
This amount defaults to the bedroom's market rent.
Accept the default or enter the amount of rent quoted to the applicant
during the lease process using the format, 0000.00.
Reqd. Security Deposit
Enter the amount of security deposit required
to lease the unit using the format, 0000.00.
Stop Billing
This date tells the system when to stop billing
recurring charges. It overrides all other dates to stop recurring billings,
percentage rents, or escalations. Only enter this date if you want the
system to stop billing.
Enter a stop billing date using the format mm/dd/yyyy.
Or, click the Calendar
Button to display a calendar from which you can select a date.
Grid Details
Income Code
When a recurring charge is entered, an income
code is assigned so that the system knows how to apply funds received
from the resident. Select an income code from the drop-down list.
Income codes are established on the Income
Codes Tab.
FFP Begins
FFP stands for First Full Period. Enter the date
of the first full period when the resident is charged a full month's rent.
Use the format, mm/dd/yyyy or click the Calendar Button to display an electronic
calendar from which you can select a date.
Example
For example, Resident A moves in on 12/15/2006
and pays a prorated rent amount for 12/15/2006 through 12/31/2006. In
the following month, January 2007, the resident pays their first full
month (FFP). The FFP Begins date would be 01/01/2007.
Ends
The Ends date tells the system when to stop billing
the recurring charge. Do not enter a date in this field unless the recurring
charge should not be billed. Typically, as part of the move-in process,
this field is left blank. Then, during the move-out process, the system
auto-updates this field with the actual move-out date to ensure no further
charges are billed to the resident.
Amount
This amount defaults to the amount in the Quoted Rent field. Accept the default or enter a different
amount using the format, 0000.00. Or, click the Calendar Button to display an electronic
calendar from which you can select a date.
Frequency
Select how often you want the system to bill the
charge. Accept the default (Monthly)
or select a different frequency from the drop-down list: Annually,
Semi-Annually, Quarterly,
Weekly, or Daily.
Next Due
The system automatically updates this field once
the Go Live process has been run. To edit, enter a date using the format,
mm/dd/yyyy or click the Calendar
Button to display a calendar from which you can select a date.
Pro In
If the expected move-in date is any day other
than the first of the month, a prorated rent charge is billed. This date
defaults to the expected move-in date entered on the Lease
Dates Tab. Accept the default or enter a different date using the
format mm/dd/yyyy. Or, click the Calendar Button to display a calendar
from which you can select a date.
Rentable
The display of this field is triggered by the
global policy, Use Rentable Items. To specify
whether the recurring charge is for a rentable item, select an option
from the drop-down list: Yes or No. Selecting Yes triggers of two other
fields to become editable: Item Type and Item Number. These fields are
used to track rentable items. Rentable Items are established on the Rentable Items Tab.
Item Type
This field is only available if two conditions
are satisfied: if the global policy, Use Rentable Items,
is checked and if Yes is selected from
the Rentable drop-down list. Select the rentable
item to enter the charge for from the drop-down list. Rentable Items are
established on the Rentable Items Tab.
Item Number
The global policy, Use Rentable
Items affects this field. This field only displays if two conditions
are satisfied: if the global policy, Use Rentable Items,
is checked and if Yes is selected from
the Rentable drop-down list. If applicable, select
the item number from the drop-down list. This number is used to track
and record payments for the rentable item. Rentable Items are established
on the Rentable Items Tab.
Bill Monthly
If you selected Daily
from the Frequency drop-down, this check box is available. Select this
check box if you want to bill the daily charge only once per month (the
charges will increment daily). Or, if you leave this check box cleared,
the charge is billed daily when the Begin of Day process is run for the
property.