You can apply one-off charges to a tenant, or you can opt to apply a recurring charge related to the current tenancy.
Fee or expense?
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 charges.
- Holding Deposit (related to a specific tenancy)
- Holding Rent related to a specific tenancy)
- Late Rental Payment
- Tenant Reference
Add a single one-off charge
To add a one-time charge to a tenant, from the tenant view you can either:
- From the overview screen choose Options > Add Charge.
- Go to Financial > List Charges > Add Charge.
Specify the type of charge (fee or expense), charge date and value, along with an optional note. Fees will automatically have VAT added if the agency is VAT registered on the date that the charge is applied.
Add a recurring charge for the duration of a tenancy
It is also possible to apply a recurring tenant charge to only during a tenancy period, ideal for recharging expenses such as utilities or broadband.