Periodic Tenancy

A ‘Periodic Tenancy’ is a month by month rolling contract. This means that a tenancy schedule is not created, the transaction will create on the date of the month it is due. For example, if a tenancy started on the 1^st of the month and the rent is due on the 1^st of each month, on a periodic the transaction will be raised on the 1^st of each month.

 

Once this transaction has been posted, the next will not appear until 1^st February and so on, also each month after the transaction has been raised the end date in the detail screen will skip forward to the next month –

 A periodic tenancy will run until you tell it otherwise

 To set up a Periodic tenancy – go to the information bar within a tenancy and select ‘Renew/Update Tenancy Agreement’.

 

 

 

Then tick the ‘Periodic’ box. When you are happy with the dates that you have entered click the ‘Update Agreement’ button.

When setting a Tenancy on ‘Periodic’ the system will prompt you to do this

 

(If changing an existing agreement to periodic you will be prompted with this window.)

 

(If you have any transactions in the schedule and you do not want to delete, click ‘No’, otherwise, click ‘Yes’)

 When you click ‘Yes’ it will put the ‘Periodic’ icon within the ‘Agreement details’ and work the next charge date

 

 Be advised that when you set up a ‘Periodic’ you cannot backdate it, it will only read forward dates

 

 

 

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