FAQ > Managing Tenant and Lease Agreement Information

How do I handle rent increases for a tenant without losing transactions that were recorded under an old lease?

Let’s walk through an example to demonstrate how you can update or increase the rent amount for a tenant in SimplifyEm:

Imagine you originally set the tenant’s rent at $100/month. After 6 months, you decide to increase the rent to $150/month. To make this adjustment, follow these steps:

1. Navigate to “Tenant” module on the left side and go to “Tenant Center”.

 


2. Choose the property where the tenant resides.
3. Click on the “Take Actions” button in the tenant’s row.
4. A drop-down menu will appearClick on the “Edit Lease Info” option.

 


5. A pop-up window will appear. Choose the option labeled “I want to change the rent amount or the due date for this tenant.”

 


6. You’ll now see the “Lease Information” screen, which displays the current lease terms and other relevant details.
7. Enter the updated Rent Amount.

 


8. Click on “Save”

If you want to change the lease period or due date as well, simply enter the new Due date and lease start and end date in the Lease Information screen before saving.

Important Note: If you’ve already recorded rent payments under the original lease terms, a confirmation popup will ask whether you want to leave the previous transactions unchanged and apply the updated terms moving forward. Be aware that this will reallocate rent transactions to only cover rent due. Any special allocations for transactions occurring after the new lease start date will be lost along with late fees created. You will have re allocate the transactions and create the late fees once again as per the new lease