Making Changes to Existing Leases & Fees

Making Change to Existing Leases

Once you have correctly added and configured a lease record, the charges for it will begin to accrue in the SimpleRent rent roll, and you won’t have to revisit the settings of the lease very much.  If you need to add a new charge to the lease, make changes to dates or late fees, or add a new tenant onto the existing lease, you’ll need a way to edit the lease.  You can also renew an existing lease, or close a lease if tenants are moving out.  All of these operations and scenarios are described in the following sections.

Edit a Lease

There are a number of ways to get to the Lease Settings/Edit screen:

  1. The Details panel --> Settings button of the Properties details panel. From the Properties page,  click a property row on the Leased tab to show the details panel – the lease Settings button is highlighted:

  2. The Details panel --> Settings button the Person details panel. From the People page, click a property row on the Active tab to show the details panel – the lease Settings button is highlighted:

  3. The Lease Settings button on the Details panel of any lease record on the Leases screen:

  4. Anywhere else in the system where you find a lease settings button, for example, on the Dashboard --> New Leases panel:

    Or, the lease context dropdown menu on the Rent Roll or Payment History screen:

In each case, the Lease Settings page is shown:

The Lease Settings is organized across a number of tabs:

Tenants & Lease Dates tab

On this tab, you can add or remove the tenants assigned to the lease.  By the time you have reached this page, the lease record will have already been created, and you should see one or more tenants already on the lease in this tab.  You can click the “Add Person” button add more:

Also on this tab you can make changes to the Start and End dates on the lease.  The start and end date of a lease may affect start and end dates for any charges & fees on the lease that don’t have explicit start/end dates of their own set.  If you want to make changes to the lease dates, click in each field and set the date (or leave the end date blank for month-to-month) and click the “Save Dates” button.

Important: if there already are existing payments recorded for the lease, you won’t be able to make changes to start or end date of the lease:

This is because existing payments (and their state of being late or one-time, as well as corresponding late fee calculations, etc) are linked to a particular receivable period (due date) that is generated based on the lease start and end date.  Rather than require you to painstakingly migrate prior payments to new payment due date periods, it is less complex to lock down the lease start/end date after payments have been recorded for it.  If you need to start over and change the lease dates after payments have been recorded, you can either create a new lease for the same tenants and property, or just delete the existing payments on it from the payment history and go back into the lease edit screen afterwards.

Similarly in this case (existing payments), you won’t be able to make changes to rent & other charges:

You can, however, add new charges/fees to the lease, even if there are existing payments for other charge types.

Rent & Other Charges

This tab is where you add any items the the tenant(s) are required by the lease to pay.  These items include Rent, and many other kinds of one-time or recurring charges & fees.  Add as many as are appropriate, and each will appear as line item on the Rent Roll and Collect Payment screens, and will show on invoices and receipts and other reports as they become due and/or paid.

Assuming there are no existing payments on a particular rent charge or other fee, you can make changes to existing charges, but in all cases you can always add new charges here:

Click the Edit button to modify an existing charge/fee, or delete to remove it.

Click the “Add Charge” button to add a new charge – the “Add Lease Fee” screen appears:

  1. Select the fee type – choose from a number of rent types, charges, fees, deposits, section 8 / public housing payments, and utility bill payments from this dropdown.
  2. Enter the amount of the charge/fee/rent item. You can only enter numeric values in this field (currency symbols and commas, etc are omitted) – for example, you can enter dollars and cents: 1450.50.
  3. Choose how often the payment is due – either monthly, one-time, bi-monthly (twice a month on the days you define – the 5th and the 25th, for example), every two weeks (14 days), daily, quarterly, every 6 months, or yearly.
  4. You can enter a descriptive comment for the charge in the ‘Description’ field.
  5. Select the start and end date for the charge – i.e. the validity period for when/how long to calculate this payment as due. You can leave either field blank to defer to that of the parent lease date – i.e. if you leave the start date blank here, the lease’s start date will be assumed; if you leave the end date blank the lease’s end date will be used (or on-going, in the case of a blank/month-to-month lease).
  6. Specify whether the fee/charge is to be paid by tenants, or a different person or entity. Normally, you will choose “Tenants” for this option – exceptions might be Section 8 payments where the tenants don’t actually pay this portion, but a government housing authority does – in cases like this, select “Other, Non-Tenant Payer” and type the name of the payer into the “Specify Payer Name” textbox.
  7. Late Fees:

    Each and every charge/fee (whether it is rent, or otherwise), can have late fees enabled for it. To do so, switch the “Enable Late Fees for this item?” dropdown to “Yes”.  The Late Fee Settings options are shown:

Select the type of late fee structure you want to use – either Flat Fee, an Amount Per Day, or Percent of fee per day.  Changing this option will determine what additional settings you’ll need to set up.

Flat fee – a one-time late fee is assessed when this charge is considered late.  Enter the amount to be assessed.

Amount per day – a fixed dollar amount to assess for each day the item is considered late.  You can enter a base amount plus the amount per day.  For example $50 + $2 per day will result in a $56 late fee for an item that is considered 3 days late.  Just use a $0 base amount if you just want a per day charge only.

Percent of fee amount per day – this option will apply a percentage to the actual amount of the item due and calculate a late fee from that.  For example, entering 1.2 into the “% per day” field on a $1000 rent charge will result in a $12 late fee ($1000 x 0.012) per day assessment.

Grace period – in all late fee cases, you can add a number of days before the item is to be considered late.  For example if the item is set up to be due on January 1 (and subsequently monthly on the first of the month), but the grace period is set to 2 days, the item will not be ‘considered late’ until January 3rd.

When you are done configuring the Charge, click Save to add it to the lease:

Payment Schedule tab

The payment schedule tab is an informational tab showing a complete table of payments due for the lease.  Based on the lease start & date settings, and the settings of any charges & fees you have added, this table will show every payment, how much is due, and when it is due.  This is a general overview of what a tenant can expect to pay once you have finished configuring the lease, and is a good place for you to review everything prior to starting to invoice the tenant and collecting payments.

Lease Files tab

Like many other areas (Properties, People) in SimpleRent, you can upload files here – this tab lets you add files specific to this lease – for example, actual copies of lease paperwork (the signed lease documents, addendums or appendices to the lease, or whatever else makes sense for your situation).

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