Rent Reviews for Commercial Tenancies

Overview

Rent Reviews for Commercial Tenancies

This article is a guide to add rent reviews for commercial tenancies within Reapit PM.

The process in this article include:

• Adding a Rent Review

Adding a Rent Review

1. Click on People.
2. Click on Tenant.
3. Search and Select a Tenant.
4. Navigate to the tenant agreement and scroll down to Rent Reviews.
5. You can select to Show Past reviews to see a list of rent review history
6. Select Add New to add a new rent review
7. The drawer will then appear to the right, you can select when the new rent is due to start on.
8. 5. Choose the type of increase, fixed amount, increase, percentage or CPI, then enter the amount and if GST is inclusive.
9. Click on Save.

The new rent review will then appear in the list as upcoming

It will also display in the Rent Review filter of the Commercial home page when it is within 90 days due for renewal

Once the review date has come around, recurring invoices and the rent amount will be updated to reflect the new rent amount. This will include automated adjustments for shortfalls/windfalls being added(as an extra line item) on the tenants next recurring invoice.

Note: In order for the tenants invoice to automatically be adjusted, the following must happen:

1. MATCH rent must be selected
2. Rent review(any type) must be added prior to the invoice send date for that given invoice period