Rental Credits are credits applied to the rental account in relation to the selected property. It may be the case that the tenant associated with the property has performed remedial works on the property rather than requesting this to be co-ordinated by the letting agency. To reflect this the letting agency my reduce the amount of rent due from the tenant. This is achieved by applying a rental credit. The date will default to today's date.
To apply a Rental Credit:
- Go to Bank > Tenant Transactions
- Select the relevant property or tenant
- On the Tenant Transaction page, select the tab 'Credit'
- When applying a rental credit the following fields must be supplied:
- Click the Submit Credit button.
Note that if management fees applied by your letting agency are calculated as a percentage of rents collected then rental credits will be considered as rents collected and management fees will be applied accordingly.
The value of the rental credit- a numerical value.
This is the date on which the rental credit will be applied.
Any meaningful text can be entered in this box, e.g. a description of why the rental credit was applied.