How to Add a Service During the Term of a Lease by Modifying the Lease
You can watch the video procedure or follow the instructions below.
1. Go to the “Data” tab and the “Leases” subtab.
2. In the selector at the top left, click on the unit you want to modify.
3. Click on the lease you want to modify.
4. Click on “Edit” at the top right.
5. In the third page of the dialog box, in the “Price by period” section, modify the current period by adjusting the duration.
6. Make sure that the end date at the bottom right of the “Price by period” section is the day before the start date of the period with the additional service (if the additional service is invoiced as of September 1st, the end date of the current period should be August 31st).
7. Click on “Add a period.”
8. Select the account that best describes the additional service, and enter the amount of the service.
9. Adjust the duration of the new period by entering the number of months left in the lease, and verify that the end date of this period (at the bottom right) is the same as the end date of the lease.
10. Click on “Finish.”
11. In the “Accounting” tab and the “Collections” subtab, select the first month with the additional service (or any of the following months), and make sure that the rent is adjusted.
You have now added a service during the term of a lease by modifying the lease.
Transcription of the Subtitles
Here is how you add a service during the term of a lease by modifying the lease.
If you decide to add a service to a lease, such as Internet, a parking space, etc., before the lease is over, you need to charge the tenant for this service. You can modify the lease or create a recurring invoice. This is how you modify the lease.
Go to the “Data” tab and the “Leases” subtab.
Click on the lease you want to modify, and click on “Edit.”
Click on the third page of the dialog box.
In the “Prices by Period” section, change the duration of the current period, so it ends the day before you start charging the tenant for the additional service. For example, if the service is charged starting on April 1st, the current period will end on March 31st. Change the number of months, so the dates here are correct. In this case, the period is from July 1st 2021 to March 31st 2022, so the number of months is 9.
Click on “Add a period.” Adjust the number of months, so the end date of the period is the end date of the lease. For example, if this lease ends on June 30th, the second period will be from April 1st to June 30th, and the number of months will be 3.
Now, select the account that best describes the service. I will select “Parking.”
Enter the price of the service, and click on “Finish.”
Go to the “Accounting” tab and the “Collections” subtab.
Check that the rent for the months with the service is higher than the rent for the previous months. In this case, the rent will go from *** in March to *** in April.