You can apply two types of charges to a tenant, and you may set these up as single, one-off charges, or you can add them to apply repeatedly on a regular schedule, possibly associated with a tenancy:
Fee or expense - what's the difference?
A fee generates income revenue for the agency, and will be subject to VAT if applicable.
An expense is incurred by the agency and that cost is passed on to a third-party for payment; it does not generate additional revenue for the agency.
There are a number of preset charge types which you can apply, or you can define your own tenant charge types.
- Holding Deposit (related to a specific tenancy)
- Holding Rent related to a specific tenancy)
- Late Rental Payment
- Tenant Reference
Passing expense payments to the landlord
Although most expenses and fees will be due to the agency, it is possible to change the recipient of the charge payment to the landlord if required. This allows the agency to recharge the tenant for expenses which the landlord paying already but needs compensated for.
An example may be a regular recharged expense of broadband or other utility. While this charge will be applied to the tenant and collected via the agency, it will be reflected as income for the property and will be available to pay out to the landlord.
Define the recipient of the charge income when setting up tenant charge types in Settings.