Date to Expire Old Charges

Use this field to set the date on which you want the current charges to expire. This field defaults to the day before the lease renewal begins. To change the date, type another date (mm/dd/yyyy) or click the Calendar button to select a date from a calendar. To use this field, you must have security permissions for Lease Renewals—Edit Expire Old Charges. For more information about setting security permissions, refer to the System Help.

This date can be before or after the Pro In date, which determines when the lease renewal charges begin. For example, if you have a mid-month lease renewal that begins on March 15 and you want the lease renewal charges to take affect on April 1, change the Date to Expire Old Charges to March 31 and change the Pro In date to April 1.

Note

The “Date to Expire Old Charges” appears on the Lease Renewals Report in the Begin of Day series of reports.

Income Code

When a recurring charge is entered, an income code must be assigned to it so that the system knows how to apply funds received from the resident. Select a recurring charge income code from the drop-down list. Income Codes are established on the Income Codes Tab.

FFP Begins

FFP stands for First Full Period and is used to indicate when the system will bill the resident the first full month's rent. Enter the date to bill the resident the first full month's rent of the lease renewal using the format mm/dd/yyyy. Or click the Calendar button to display an electronic calendar from which you can select a date.

Ends

The Ends date tells the system when to stop billing the recurring charge. Do not enter a date in this field if the charge should be billed. As part of the move-out process, the system auto-populates this field with the actual move-out date - stopping the billing.

Amount

Each recurring charge is assigned an amount to bill on a selected frequency. Enter the amount to bill for the recurring charge using the format 0000.00. Or click the drop-down arrow to display an electronic calculator that you can use to complete this field.

Note

The rent amount may indicate that LRO renewal pricing is displaying for this lease. Refer to the lease renewal overview for details, including how to override.

Frequency

The description defaults to Monthly. Accept the default or select another frequency from the drop-down list. The frequency determines how often the recurring charge is billed to the resident.

Pro In

This field defaults to the date the lease renewal begins. To change the date, type the date to begin calculating the prorated charges (mm/dd/yyyy), or click the Calendar button to select a date from a calendar.

This field determines when to begin calculating the prorated charges. For example, if the resident signed a lease renewal with a Begins Date of 04/15/2009, then the Pro In Date is also 04/15/2009. This tells the system to bill the resident the old lease amount for dates 04/01/2009 - 04/14/2009, and bill the new lease amount for dates 04/15/2009 - 04/30/2009. Or, you can use the Date to Expire Old Charges field to specify when you want the old charges to end and set the Pro In date to specify when the new charges will take effect (for more information, refer to the description for the Date to Expire Old Charges field).

Rentable

The global policy, Use Rentable Items affects this field.

The field displays if the policy is checked. If available, use the drop-down list to determine whether the recurring charge is rentable: Yes or No. Selecting Yes, enables the following fields: Item Type and Item Number. Rentable Items are established on the Rentable Items Tab.

Item Type

The global policy, Use Rentable Items affects this field.

The field displays if the policy is checked and when Yes is selected from the Rentable drop-down list. Select the type of rentable item 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.

The field displays if the policy is checked and when Yes is selected from the Rentable drop-down list. If item numbers are used to track rentable items, select the number to associate with the rentable item type previously selected. Rentable Items are established on the Rentable Items Tab.

Bill Monthly

This field displays when a daily charge for a non-potential income code is set up. Select the check box to bill the recurring charge on a Monthly frequency when Begin of Day or Lease Charges is run. Then, convert the monthly amount to a daily charge based on the number of actual days in the billing month. If a prorated move-in date exists, the system calculates the charge based on the actual number of prorated days vs. the total number of days in the calendar month.

For instance, if Unit 101 has a daily charge for income code, Garage set to bill at $10.00 per day, when this option is checked, the system calculates the total monthly charge for May as $10.00/day x 31 days = $310.00 and the total monthly charge for June as $10.00/day x 30 days = $300.00. This option only affects the Begin of Day and Lease Charge calculations, no other functions are affected, including reports.

 

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