Add a new tenancy

A tenancy is associated with a property. You must therefore identify and select the required property:

From the resulting view of property details select the Tenancies tab. This will result in a list of all tenancies associated with this property (if any) being displayed.

To add a new tenancy:

1. Click on the New Tenancy button
2. Populate the form with the tenancy details
3. At this point you can select from the list of tenants or add a new tenant.

Note that the following fields must be supplied:

Tenant Details Form

Either

• Tenant (select a value from the drop down list)

Or

• Title (select a value from the drop down list)
• First Name
• Surname

Tenancy Details Form

• Rental Period (select a value from the drop down list)
• Tenancy Start Date
• Tenancy Duration (select a value from the list of options)
• Tenancy End Date (only required if a value of 'Specify duration' has been selected for the Tenancy Duration)
• Rent

If all rent is payable by the tenant, i.e. no housing benefit element exists, then the following fields must also be supplied:

• Opening Rent Balance

Field explanation

Rental Period

Select whether the rent for this property is due on a weekly or monthly basis.

Tenancy Start Date

The date on which the tenancy will start.

Tenancy Duration

How long the tenancy is to last.

Tenancy End Date

The last scheduled day of the tenancy. This value will be automatically calculated unless the Tenancy Duration has been set to 'Specify duration'. Note that a tenancy must comprise of a whole number of rental periods - either weeks or months.

Rent

The rental value of this property. This is a monetary value and must be equal to the sum of the Tenant Component and the Benefit Component.

Opening Rent Balance

In most cases this figure will be zero but it can be used to indicate a tenant rent balance at the start of the tenancy. A negative figure should be used to indicate that the tenant is arrears with his/her rent.

 

Advanced View

Benefit Component

Check this box if all or part of the rent will be paid by, and received directly from, a housing benefit authority.

If part of all of the rent will be paid by a housing benefit authority then check the 'Benefit Component?' checkbox and supply the following:

• Tenant Component
• Opening Tenant Balance
• Benefit Component
• Opening Benefit Balance

Tenant Component

The component of the rent which is received directly from the tenant.

Note that this field is only applicable when the rent has an associated Benefit Component (see above).

Opening Tenant Balance

In most cases this figure will be zero but it can be used to indicate a tenant component balance at the start of the tenancy. A negative figure should be used to indicate that the tenant is arrears with that element of the rent that is to be paid by him/her.

Auto Tenant Collection?

If the tenant component of the rent is to be paid by electronic transfer, e.g. standing order, then check this box. This will allow you to post rent receipts in bulk via the Bulk Transactions facility within the Bank area.

Note that this field is only applicable when the rent has an associated Benefit Component (see above).

Benefit Component

The component of the rent which is received in the form of housing benefit from a government agency.

Note that this field is only applicable when the rent has an associated Benefit Component (see above).

Opening Benefit Balance

In most cases this figure will be zero but it can be used to indicate a benefit component balance at the start of the tenancy. A negative figure should be used to indicate that monies are outstanding from the housing authority.

Auto Benefit Collection?

If the benefit component of the rent is to be paid by electronic transfer, e.g. BAC, then check this box. This will allow you to post rent receipts in bulk via the Bulk Transactions facility within the Bank area.

When using this feature you must also specify the First Payment Date, the Payment Frequency and the Payment Value associated with the benefit payments.

Note that this field is only applicable when the rent has an associated Benefit Component (see above).

Benefit Authority

Select a value from the drop down list. This is the authority awarding the housing benefit.

Housing benefit authorities can be defined within Solo/Origin's Control Panel.

Note that this field is only applicable when the rent has an associated Benefit Component (see above).

First Payment Date

The date on which the first payment was received, in relation to this tenancy, from the awarding housing benefit authority.

Note that this field is only applicable when the rent has an associated Benefit Component (see above).

Tenant Threshold

The Tenant Balance figure below which the tenancy will appear in the Rent Alerts report.

Benefit Threshold

The Benefit Balance figure below which this tenancy will appear in the Rent Alerts report.

Grace Period

This is used for Rent Alerts only. If set to a non-zero value then rents applied within the grace period will not be included in the rent balance. For example, if the Grace Period is set to 5 then no rents applied within the last 5 days will be included in the balance reported in the Rent Alerts report.

Payment Frequency

The frequency, measured in days, of payments received from the awarding housing benefit authority.

Note that this field is only applicable when the rent has an associated Benefit Component (see above).

Payment Value

The value of each payment received from the awarding housing benefit authority.

Note that this field is only applicable when the rent has an associated Benefit Component (see above).

Let Only?

Use this field to specify if the letting agency will only be responsible for placing a tenant in the property and not the ongoing management. With this field set the property will not appear in the Rent Alert report.

Bring previous balance forward? (Only available when a previous tenancy has been defined)

Use this field to specify whether the rental balance at the end of the previous tenancy should be brought forward to this tenancy. In normal circumstances the value of this field should be set to "Yes" if the tenant associated with the new tenancy is the same as the previous tenancy.

Bring previous deposit forward? (Only available when a previous tenancy has been defined)

Use this field to specify whether the security deposit from the previous tenancy should be carried forward to the new tenancy.

Letting Fee Applicable?

Use this field to specify whether a fee should be applied to the landlord / property account to cover the costs of the letting agency finding a tenant for the associated property.

Letting Fee

This fee is obviously only of relevance if the "Letting Fee Applicable?" has been given a value of "Yes". In such cases the monetary value of the letting fee should be specified using this field.

Deposit

In this field enter the monetary value of security deposit that the tenant is required to lodge at the commencement of the tenancy period.

Contract Signed

Use this field to indicate if the tenant has signed the tenancy agreement / contract.

Click the Add Tenancy button.