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Ending or Vacating a Lease/Tenancy

  • Updated

If you are located in North America, you will have slightly different buttons and terminology:

  • Tenants are referred to as Leases
  • Terms & Breaks within a Tenant is called Terms & Options
  • The button to Vacate Current Term is called End Current Term.

 

For the purpose of this article, we will refer to it as Tenants, Terms & Breaks and Vacate Current Term. For more information on regional terminology, refer to this article or contact support.

 

You can schedule the end date for a tenancy by Vacating the current term. 

To enter Vacate details for a tenancy:

  • select the tenancy
  • click Terms & Breaks on the left menu
  • click Vacate Current Term 

 

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Fill in the dates, the Term Expiry Date (Rent Charged Up to and Including This Day) sets the final day for which the tenant is charged. It's usually the same as the day they are moving out but under various circumstances might be different.
 
It is optional to enter a Vacating Forwarding Address and Vacating Notes. Click save to continue

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Click the toggle switch if you wish to create an exit inspection. Click Continue 

Vacate Statement 

 

 

If the vacate process is completed AFTER a rent invoice has already been raised for beyond the final rent due date, a credit will be calculated.  An option to raise the credit note is offered on screen, raise the credit note before confirming the vacate details. The credit note can be raised by clicking on Create Credit Note

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You'll now be taken through to the Create Income Credit Note screen, which will enable you to allocate the credit note towards future invoices which will be allocated immediately to the existing invoices that have been raised for periods past the tenancies vacate date. Once ready, click Save & Approve. The credit note will also appear on the Vacate Statement.

 

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The Vacate Statement is divided into four sections:

  • Unpaid Rent Invoices, which have already been issued;
  • Future Rent, for invoices not yet issued, up to the final rent date;
  • Outgoings to Vacate
  • Outstanding Invoices, for any other amounts the tenant has been invoiced.

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Select Confirm and update tenancy with Vacate Details at the bottom of the Vacate Statement page.

The Vacate Statement can be printed as a PDF to give to the tenant.  

 

Whenever the final date of the tenancy does not line up with the end of a period, a pro-rated invoice will be generated based on a calculated daily rate. The same calculation is applied to each line of the rent template.

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