Frequently Asked Question

How to Delay rent charges for Externally Managed Units?
Last Updated 3 months ago

The Arrears system shows all rents that are overdue.

Where an external managing agent is collecting rent, it is inevitable that said rent will be received late and tenants will be erroneously shown as being in arrears.

To set up such tenants so that this does not occur, proceed as follows:

  1. In Unit Maintenance select the appropriate Managing Agent. If the desired agent does not appear in the list then make sure he (as a Supplier) is linked to Trade code MANAGT (Managing Agent).
  2. Use Supplier Maintenance to edit the agents details. In the Trade section, click in the Reg-ID/Codes box of the Managing Agent Trade entry and the Managing Agent's Terms input box will pop up:
  3. Fill in the three fields as appropriate. In the above example, accounts are paid every quarter (Q), the next quarter end is 25/03/19 and funds from the agent should be received 14 days after the period end - 25/03/19 + 15 days.

    When recorded in compact form it will appear as


  4. The result of the above setting will be that: For every Unit that is linked to this External Managing Agent, any rent due by 25/03/19 will be delayed till 14 days later and only charged to the Rent Ledger on 8/04/19. By that time the funds should have been received and banked.

    The net result will be that we will not see any false reporting of arrears.

  5. Once the payment for the most recent period has been received, the PropPack user must move this agent onward to the next period by use of the Move to Next Accounting Period button shown above.

Please Wait!

Please wait... it will take a second!