Rent Discount, Tenant Credit or Concession, Write Off

For various reasons, you might find that you want to discount a tenant's monthly rent charge, or post a credit to their account. There are two different methods for reflecting a discount or credit to a tenant in the program...

OPTION 1:

The quickest way to adjust your tenant's ledger balance, would be to adjust the individual rent charge for the month by editing the existing transaction in the tenant ledger. For example, if your tenant's rent is $1,000 and you are reducing their rent by $100 for lawn care...


To adjust this charge, click on the edit icon next to the $1,000 balance and adjust the charge amount to be the amount AFTER the $100 discount and add a description of the discount in the "Display As" field. This note will appear in their ledger.


This is what the ledger will look like after the adjustment...



OPTION 2:

If you prefer seeing the charge and the discount reflected in the ledger separately, you will want to skip editing the rent charge transaction as described above, and instead create a new charge transaction for your tenant for a negative amount. In this case, -$100. Be sure to leave the Category set as 110 Charge.


This is what the tenant ledger will look like after posting a negative expense transaction...


 Note: if your tenant is setup for EasyPay to automatically pay their rent online each month, you will also want to adjust their EasyPay settings to ensure they are charged the correct amount.




 Keywords: Tenant Credit, Rent Credit, Write-Off


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