You can set up automatic annual rent adjustments and avoid the trouble of remembering calculating and informing the tenant of upcoming rent adjustments.
Step-by-step guide
1. Go to the lease and navigate to Rent adjustment in the lease menu
2. Click + Add rent adjustment
3. Select the type of adjustment
4. Select the recurring bill items and balance accounts you'd like to adjust annually
4. Set the adjustment schedule by selecting when the amount change should take effect
5. Configure the details of the calculation for the adjustment and save
See the adjusted rent
Bill items set up for rent adjustment will be marked by an arrow on the Rent page. When the adjustment is added to the adjustment journey, you can see the rent change under Rent.
30 days before the adjustment, or when all the details are in place, the adjustment results will appear in the Adjustment journey of your bill item.
Your tenant will be notified of the adjustment in the first email sent with the adjusted bill item.
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