Updating a Periodic Tenancy

Updating a Periodic Tenancy

Go to the ‘Tenancy/Lease’ Module

Double click on the Tenancy where the rent is being increased.

Click on ‘Information Bar’

 

Select ‘Renew/Update Tenancy Agreement’ from the menu. You will note that ‘Periodic’ is pre-selected.

Change the ‘Next Tenant’ date to when the new rent will apply.

Tick ‘Invoice’ if you require a paper invoice (printed through Sage)

Click ‘Update Agreement’

 

A box will appear asking ‘Are you sure you want to Renew/Update this agreement ‘click ‘Yes’ and in the next window, click ‘Yes’ or ‘No’




 

Dependent on if you wish to clear the current schedule if any




 

The result is that a rent transaction will be created every month for £625.00 starting on 01/08/2015 until the agreement has ended.


 Since this is a periodic tenancy, there is no schedule, therefore you should not have unposted rents but double check before updating because if the ‘Erase any unposted schedule items’ box is ticked, everything that is in the Schedule will be deleted.

 Click ‘Save & Exit’


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