Recurring Charges Tab

This tab appears when you click Next on the New Lease Tab. Use this tab to set up recurring charges for the resident transferring into the new unit. Details displayed at the top of this tab are for reference only and cannot be edited.

Note

An asterisk (*) indicates a required field or selection.

Market Rent

This is a display-only field used to identify the market rent amount of the unit the resident is transferring to.

Type

This is a display-only field used to identify the type of unit the resident is transferring to. For example, 1B/1B indicates the unit is a one bedroom, one bath apartment. Information defaults from Unit Types setup.

Sub-Type

This is a display-only field used to identify the sub-type of the unit the resident is transferring to. For example, Den indicates the unit includes a den. Information defaults from Unit Types setup.

Reqd. Security Dep

Enter the amount of the security deposit the resident must pay to lease the new unit using the format 0000.00. Or, click the drop-down arrow to display a calculator that you can use to complete this field.

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 an income code from the drop-down list. Income Codes are established on the Income Codes Tab.

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 a calculator that you can use to complete this field.

Note

If group concession limits have been setup for this property, the limits are applied for any amount with a Concession income code. For more information refer to Group Concession Limits.

Pro In

If the expected move-in date is any day other than the first of the month, a prorated rent charge is billed. Enter the date to begin calculating the prorated charges. The date defaults to the current system date. Accept the default or enter another date using the format mm/dd/yyyy. Or click the Calendar button to display an electronic calendar from which you can select a date.

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. The date defaults to the first day of the month following the prorate date. Accept the default or enter another date using the format mm/dd/yyyy. Or click the Calendar button to display an electronic calendar from which you can select a date.

For example, resident A moves in on 12/15/2003 and pays a prorated rent amount for 12/15/2003 through 12/31/2003. In the following month, January 2004 the resident pay their first full month (FFP). The FFP Begins date would be 01/01/2004.

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.

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.

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

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.