Arthur allows a custom rent collection frequency to be set up outside of normal frequencies used in the industry.
For example, if a student tenant moved into your property in October and you agreed they could pay three months of rent in January, three months in April, and three months in July in line with a student loan.
To set up a bespoke frequency go to Financials > Custom Frequencies:
Select Add Custom Frequency:
“For Legal Quarter Collection Frequency, Select “Calendar Months” and “Put in Day and Multiplier which will be 1”
The traditional English quarter days are: March 25, June 24, September 29 and December 25. In Scotland the traditional quarter days or term days are: 28 February, 28 May, 28 August, 28 November. The modern quarter days: 1 January, 1 April, 1 July, 1 October.
This works on multiples of monthly rent
Now, when you go to create a tenancy, you can select your bespoke frequency rate from the “Rent Frequency” drop down menu.
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