Leases
Create a lease, choose how it bills, and manage it through renewal or cancellation.
A lease (shown as a contract in the app) connects one asset to one customer for a period, with a rate, a deposit and a billing method.
Create a lease
Pick an available asset and a customer, set the start and end dates, and confirm the rate. The rate and its frequency are copied from the asset, so choosing a monthly apartment already defaults the lease to monthly billing. An asset can only have one active lease at a time.
Rates and frequency
A lease is billed daily, weekly or monthly. Daily suits remittance models such as a driver paying a fixed amount each day. What should have been paid so far is calculated from the start date through today, so you always see who is behind. Monthly rent follows real calendar months, so a 12-month lease is exactly 12 months of rent.
For leases billed by the day, Daily Collections shows who has paid each day.
Simple or itemized billing
- Simple: one rate per period.
- Itemized: several recurring charges (for example rent, service charge and parking), invoiced for each period.
Deposits
Record a rental deposit and a security deposit on the lease. When the lease ends you settle the deposit. See Late fees and deposits.
Changing a rate later
Schedule a rate escalation for a future date instead of editing history. Money terms such as the rate lock once a payment has been recorded, so past payments always mean what they meant when they were made.
Account statement
Every lease has a running statement: each charge and payment in date order, with the balance after each. Open it from the lease page and download it as a PDF. See Reports.
Renewing and cancelling
Renew a lease to start the next term from the same details. Cancel a lease with a reason, a notice date and an effective date, and optionally email the customer a notice. Rent stops on the effective date. Any early termination fee you enter is added to what the customer owes. A cancelled lease keeps its full history.
Agreement
Every lease can have a written agreement, signed on a phone or on paper, including rent-to-own. See Agreements and signing.