This short video (03:24) illustrates the new process of applying rent using schedules.
- Simplified rent menus
- Rent schedules independent of tenancy dates
- Add separate schedules for benefit contributions and tenant shortfall
- Delete or modify rent values
- Easily apply future rent periods
Simplified rent menus
The Rent & Charges menus have been the single most confusing aspect of ShowHouse to date for some users. We have now condensed this menu to three items - (1) Rent, (2) Charges, and (3) Security Deposits.
We haven't removed any functionality; the new rent schedules (next item below) greatly simplify the process of applying and modifying rent charges, giving you a completely new level of control over all thing rent-related.
Rent schedules independent of tenancy dates
Rent is now applied using customisable schedules, instead of being tightly tied to the tenancy dates. Change the start or end dates, rental period, type of tenancy, or make it periodic, without any of the unexpected side effects which have presented problems to date.
When setting up a new tenancy, rent is no longer applied from the start date automatically, although you can choose to "apply rent up to date" if you wish to do that. You can set up one or more rent schedules on a tenancy once the main dates have been configured, and then later modify these schedules if necessary.
Each rent schedule basically sets up a rule saying, for example, "apply rent at £1000 per month starting from 1st June until the end of the tenancy, payable by the tenant", or "apply rent at £464.31 every 28 days starting from 17th June until the end of the tenancy, payable by the local benefit authority".
Add separate schedules for benefit contributions and tenant shortfall
Rather than defining a set rent value per rental period, and then managing the fluctuating split between benefit and tenant contributions, you can set these two rent values up as separate schedules. You can even set these up to occur at different intervals.
For example, you can apply the benefit element of the rent to apply every 28 days in line with the local authority payment dates, and the tenant shortfall component to apply every month on the date the tenant wishes to make their regular payment.
Delete or modify rents
If pro-rating is required, e.g. at the start of a tenancy to align with the first of the calendar month, or at the end of a tenancy ending prematurely, or mid-month, ShowHouse will automatically calculate the value, but you can override this if you want to use a different figure.
You can now easily remove, re-add or modify rent charges. Where housing benefit contributions are involved, the tenant will typically pay all of the first month, only to have benefits paid retrospectively. You can transfer tenant payments between rent periods without affecting the landlord's rental income or management fees which have already been charged.
This short video (02:41) illustrates the new ability to modify and delete rent.
Easily apply future rent periods
If a tenant makes an overpayment of rent, or you need to apply the next period's rent in advance for any reason, you can easily advance the rent schedule to the next period by clicking the associated Apply Now button.
Rent is no longer automatically applied by the system when a tenant overpayment is received, but you can apply the rent yourself if appropriate and then allocate the overpayment to that rent for passing onto the landlord.