Before you begin, if you intend to give more than one user access to the platform to manage rentals, create a team. Once the team is created, always work within the team to ensure that all information is included in a shared workspace.
If you have questions about what a team is, how it works or how it is configured, please review the following help center section before proceeding.
Once you have done this, add the rental-related information in the following order. Remeber also this article explains how to rent by rooms managing third parties' properties and charging fees to the proprietary. If your management model is subleasing, follow the steps of this article.
1. Your billing information
In the Accounting tab of the left menu, in the Billing section, open the accordion that indicates Bill issuers. Fill in or correct the default issuer created with your data. If you invoice in the name of more than one company or person, you can create the issuers from here.
2. Setup the general configurations of the rent income model
In this section, you will indicate the default settings to automate the tenants' rents: if an invoice for the rent must be generated, from which day of the month they will start to pay, if it will include any extra expenses... in case there are different models (for example, cases in which an invoice is issued and cases in which it is not) you will be able to add several different configurations.
To do this, go to the Payments and Receipts page in the menu on the left and click on the gear icon General Configurations.
In the tab that will open, there will be two options:
First contract rent income of the contract: the configuration of the tenant's first payment, in case it includes different or additional concepts from the rest of the months. For example the deposit, management fees... it is not necessary to configure it if the first month's payment includes the same concepts as the next months.
Scheduled income of the contract rent: what the tenants will pay regularly until the end of their contract.
For both configurations, a form will appear asking the following questions:
Name: way to identify, when choosing configuration, this model. For example common rent, rent with billing, rent per room...
How often do you want it to be generated? Choose the frecuency with which the tenant must pay. For example, choose monthly to collect the rent every month.
Date of income: the day when the tenants will start to pay rent. Usually it is the first day of the month.
Generation date: this can be the same as the date of income, or a few days before to review and possibly correct the payment information.
Due date: this is optional. It will only be need to if the tenant has a deadline to pay the rent. For example, the tenant has 5 days to pay from the date of income.
Which contract concepts do you want to include? the rent should be activated for the tenant to be charged the rent. Suply fees are the utilities the tenant might pays along with the rent as a fixed fee and additional services if there are other recurring fees fixed in the contract: cleaning, catering.... other than the utility-type expenses of the property.
Other concepts: select pending expenses if the tenant will pay for the supplies in addition to the rent or if there is a possibility of adding any additional expenses to the rent (for example, a reparation). Suplies balance should only be selected if the tenant pays a fixed amount for utilities and this amount is checked every month, charging or discounting the tentant the difference between the fixed suply fee and the real expense.
Settle income: it doesn't apply to this model, it should be left unmarked.
Generate bill: check only if a bill for any of the concepts should be created. If it's activated, indicate which day of the month the bill should be created and, in case it is a few days after the generation date indicated above, if you want to generate a proforma bill, a preview of the unnumbered invoice. In this way, messes in the numbering are avoided. The disadvantage of this is it won't be possible to send the invoice before the “invoice date”.
Hide income from payers: if the tenants are given access to the platform, this will prevent them from seeing the information until it has been checked and approved by the managers.
3. Setup the general configurations of the proprietary's liquidation
Also from the Payments and Receipts and General configurations tab where you are now, click on the Fee collections section to add these settings. Click on the option Scheduled fee collection to include the standard configuration of the proprietary's liquidation.
A tab will then open where you can indicate:
Name: to distinguish and identify the model of fees/payment to the owner. If you manage properties with several models, it is convenient to indicate a name to distinguish it. For example, integral management fees.
Description: optional, brief description of the management model.
Management model: choose one of the 4 available options, which correspond to the third-party apartment management models covered by the platform. The option for this case will be the first one, Percentage or fixed based on rental income. If there is a possibility that the owner receives a minimum guaranteed rent (for example, if the tenant pays less than the full rent in half a month and the owner should still receive this full rent, the option Percentage based on rental income and minimum guaranteed rent should be chosen.
Once the management model that fits in this case is chosen, save the changes and a new configuration page will open:
How to collect the fee? Choose the liquidation option to reflect the case that the manager collects the rent and then transfers it to the owner discounting fees.
Frequency: usually monthly, but you can specify other frequencies to collect and invoice the fee. It is not possible to set a different frequency for payment collection and billing.
Liquidation date: the accounting date from which the rents are paid and the fee is collected. Usually it will be the 1st of the month, but any other day can be specified.
Generation date: how many days before the liquidation date you want to have the invoice and the amount to be collected available for possible revisions and corrections, generation of SEPA files, etc.
Due date: this is an OPTIONAL field that will only be filled in if the invoice has a due date to be paid.
Concepts: other items can be marked in addition to the fee to be charged/billed to the owner, such as property expenses. In the case of a liquidation, in adition to the fee, you can select:
Rent: if the landlord receives the full rent from the tenant without ever charging other items that the tenant may pay, such as building expenses.
Additional services: if the landlord charges additional services of the contract associated to the tenant: cleaning, garbage....
Pending liquidatable expenses and unpaid charges: by clicking on edit concepts you can choose whether to include expenses or income, or both. Expenses pending settlement will be expenses to be deducted from the landlord's rent (for example, an incidence advanced by the manager). Income to be paid will be another way to add the tenant's rent, in case the owner receives the contract rent plus any other expenses that the tenant may have paid: utilities, repairs... for this functionality to work, you should have indicated in the income configuration of the previous step that the income is “chargeable” to the owner. IT IS EXTREMELY IMPORTANT NOT TO CLICK BOTH RENT AND INCOME TO BE PAID AT THE SAME TIME IN ORDER TO AVOID DUPLICATION OF THE RENT IN THE LIQUIDATION.
Generate bill: activate this option to invoice the fee to the owner. Indicate the date of the bill, if you want to generate a proforma bill to review the invoice without assigning a number at the time and the items to include in the settlement (usually only the fee).
Hide liquidation from recipients: if you do not want to automatically notify the proprietary, if registered, of the generation of the settlement.
4. Upload the properties
To add or view the property portfolio in the platform, go to the Properties tab on the left-side menu. There you will have a list of the properties that have been uploaded. Click on add property to create a new one or on the property card to check the information. If you enter an existing property, in the right-side half of the screen you have the Edit button.
5. Upload the tenants' data
Once the property is added or edited, click on the property card to re-enter. You will see a drop-down of tenants and, further below, of proprietaries. Click on add tenant/proprietary and fill in the form with their information. You can add several tenants and proprietaries to the same property. Remember to include their billing information on the right side of the screen if you generate a bill or charge them via direct debit.
Once the tenant has been added, assign the corresponding room in the “Rooms” dropdown. You will then be able to see the partial occupancy of the property.
6. Add the contracts' information and automate the rent
Once the tenants have been added, the next step is adding the contract, opening the Contracts drop down under the tenants' one. Fill in the monthly payment field and, if the rent includes any type of tax, add it just below the rent.
Regarding the dates, the start date will be when the contract begins, the Next due date will indicate the next yearly renewal of the contract, and the Extendable until date will indicate when the contract will end definitively.
Optionally indicate additional fees, deposit, schedule the rent update, schedule the tenant check-in, notifications... If the tenant also pays a fixed couta to cover the supplies of the property, click on the supply fee aditional fee, which will be charged to the tenant with the rent amount every month.
At the bottom of the Add contract form, click on Create first rental income and Schedule recurring rental income to customize, according to the settings included on the second step of the article, which day the amounts to be paid by the tenants will be created, which concepts will be charged to them...
To set it for this contract:
Display the schedule income button and, if different amounts are collected in the first month, the one for the first income.
Specify which income model, if several were created, will be used.
For the first income, indicates the date on which it will be created.
If there are several tenants in the contract, choose which one of them will pay the rent. If more than one of them are chosen, the program will divide the amounts equally among all of them.
Choose the contact who will collect the income and, if applicable, issue the bills.
Choose, if necessary, the billing series for the rent invoices.
Once completed, click on Next if this is a new contract to generate the contract document and/or request the digital signature, or click on Save contract to finish if it is an existing contract.
To attach the contract document if it is an already signed contract, once the contract form has been created, click on See details in the contract form.
Once in the contract edit form, click on the Documents section to attach the signed contract document.
7. Add the management contract and automate the proprietary's liquidation and billing
Once the tenant's rental contract has been added and the rent schedule has been set, the next step is to add the proprietary's management contract and the schedule for the liquidation and fee's bill in the property. To do this, the first thing to do is to click on the Management Contracts dropdown section and on Add Contract.
In the Management Contract form fill in the proprietary, the name by which to identify it and the start and end dates of the contract. Once this is done, click on assign management model to indicate which model this contract corresponds to, it must match the model indicated in the general configurations before, the most likely case here will be Percentage or fixed based on rental income.
Once the management model is chosen, it will ask for the fixed amount or percentage of fees, as well as the tax/withholding to be applied to this amount.
Once this is filled in, you will be able to activate the Configure automatic fee option.
Once the option Configure automatic fee collection is activated, choose the configuration you created in the previous step from the drop-down menu. Note that the management model chosen in the contract must match the one chosen in the general configuration. Then choose:
Liquidation issuer: who will be the issuer of the fee invoice/recipient of the fee payment.
Billing series: if an invoice is issued for the fee, which billing series will be used.
