As a landlord or property manager, you may offer concessions to attract renters or prorated rent to accommodate for special cases.
Prorated Rent is a one-time discounted rent payment. This can only be applied if the lease start date is on a day after the day that the regularly rent is due. You will be asked to enter the rent amount that is due and the due date for that prorated fee. If no values are entered, the tenant will be charged the full rental fee.
Concession is discount given to the tenant for a specified period of time, starting from the lease start date. The Concession Amount is the dollar value that will be subtracted from the tenant’s expected rent payment. The number of occurrences is the number of times the concession will apply, which is based on the rental payment frequency (e.g. weekly, monthly, etc).
The ManageCasa lease app allows you to include these special terms in a simple format, as outlined below.
Add special terms to the lease
- Navigate to Manage on the left side menu. Select the Lease Agreements tile.
- Click the blue Add Lease button on the new screen to create new lease.
- Please refer here for the basic walkthrough for creating a lease.
- Scroll down to the Prorated and Concession section.
- Click on the desired link to expand the appropriate section. Please refer to the above for definitions of each special term.
- Specify the amount, frequency, and date for the special term.
- You can click Save and continue later to save your work and return to it later. You can see a summary view of the agreement and make edits.
- Once all the terms are finalized, click Publish to notify your tenant(s) that the lease is ready to be viewed and signed. The tenant will be able to view the lease in the Leases tab on their profile.
Publishing the lease also generates automated transactions as you specified.
Please sign in to leave a comment.