Understanding management fees

Management fees that are related to rent are applied to a tenancy as a recurring charge. Some customers may apply fees to the unit or property and are not related to a tenancy.

Management fees are applied as

  • Recurring charges (in most cases)
  • One off transactions (Generally to retrospective rents where the adition of the recurring is retrospective)

Management fees will not be applied to any rent where direct rent is used as the rent collection type.

 

Adding a tenancy and applying a management fee

The fee type options include

  1. Fixed fee – For this start collection date is important
  2. % Rent received – For this start collection date is irrelavant as the fee is dependant of money received not charged
  3. % Rent charged – For this start collection date is important

 

Adding retrospectively

Go to tenancy>recurring>add

*Please note that any rents already created will not have management fees added retrospectively. To handle past transaction add a sinlge transaction payable by the owner for these created rents

 

For any fees that are paid at  property or unit level add a recurring to these levels and not tenancy level.

 

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