To add a lease in Track Rents, follow these steps
- Tap on “Select Rental Property”, this should bring up a sheet of all Rental Properties you have created earlier. Tap on the Property of your choice and its name will now be visible on the page.
If you have not created any Rental Property earlier, the sheet will provide you with a button to do so. Tap on it to head to the “Add Rental Property” page. - The “Select Rental Unit” button should be active now. Tap on it, to bring up a sheet of all the Rental Units associated with the Property you chose. Please tap on the Unit of your choice and its name should be visible on the page, under the corresponding Property.
If no vacant rental units are available on that property, you will be asked to create one. Tap on the Rental Page button to head to the Rental Page and add a new Rental Unit. - The “Rent Amount” Text Input should now show the default rent amount for the selected Rental Unit. If you wish to edit the value, click on the Text Input and type the new value.
- If you wish to add any additional fees apart from the periodic rent of the Unit, you may do so by entering a value in the text input next to “Recurring Fees”
- You might want to set a late fee if the tenant does not fulfil payment by a certain date. To do so, click on the checkbox saying “Set Due Date for late fee”
Here, you can set the fee amount by clicking the Text Input next to “Set Late Fee”.
To set the number of days beyond which the late fee should be imposed, enter a suitable number in the Text Input next to “Late Fee Days” - You can also choose the Periodicity of rent collection. To do so, click on the dropdown button below “Rent Period”. A sheet will now pop up. Select the appropriate rent period and it should now be visible on the page.
- To set the Date on which the Rent should be due for each period, enter a value in the Text Input below “Day Rent Due (1-20).”
- To add a Security Deposit, enter a suitable value in the text input next to “Security Deposit”
- To select the Move-in Date for the tenant(s), please click on the Text Input with a calendar icon next to “Move In Date”. A small calendar should pop up with the current date highlighted. Adjust the move-in date by browsing through the calendar and tapping on a date. Once you Tap on “OK”, the dialog should close and the Move-In Date should be visible on the Page.
- To select the Expiry Date of the Lease, please click on the Text Input with a calendar icon next to “Lease Expire Date”. A sheet with a set of pre-built options should pop up. You may click on the appropriate duration from any of the options.
In case you want the lease to expire on a customised date, tap on the “Custom Date” button. A calendar should appear below with the current date highlighted. Adjust the date by browsing through the calendar and tapping on a date of your choice. Once done, Tap on “Submit”, the sheet should close and the Lease Expire Date should be visible on the Page. - When you are satisfied with the inputs, tap on “Continue”. This should take you to the next section, “Tenant Info”
- You must add a tenant to every Lease you create in Track Rents. To do so, enter the details of the tenant in the text input fields on the page. Follow the hints mentioned in each input field to continue.
- If you wish to add a Subleaser to the Lease, click on the checkbox saying “Add Subleaser”. Three additional text inputs should appear prompting you to enter the Subleaser’s details. Follow the hints mentioned in each input field to add a subleaser.
- When you are satisfied with the inputs, tap on “Continue”. This should take you to the next section, “Invoices.”
- In this section, you will see a summary of all the Invoices that would be generated upon the successful generation of the lease. Please read the details carefully, and if you agree with the results, tap on “Continue”. This should take you to the final section, “Info”.
- In the “Info” Section, you can add additional details to the Lease, such as a note. To add a note to the lease, enter the message in the big text input field with the hint “Add Lease Notes”. Please ensure that the note is not more than 300 characters long.
- To confirm the addition of the Lease with all the data you mentioned, tap on
“Continue”. You should be back on the “Leases” Page and your newly created lease should be visible.
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