How do I set up automatic management fees on a lease?
Automatic management fees are set up during the move-in process. On the second page of the move-in documents, entitled "Extra Fees & Utilities", enable the management fee functionality by selecting one or both management fee options: "First Rent Payment Commission" and/or "Ongoing Rent Commission". Check the desired toggle button to enable the fee. Both fees may be simultaneously enabled.
Complete all steps of the lease and finish the move-in. The unpaid management fee will be calculated once the rent invoice is posted. You can mark it as paid or transfer money from the owner's account. To view the list of all management fee invoices, go to the Management Fee page located in the Accounting sub-menu.
How do I view and edit management fee invoices in bulk?
Automatic management fee posting is available in Property Manager Mode only. You can check your account mode by going to the Profile Information settings. The Property Manager mode is available starting with the Pro Plan.
To be able to use this feature properly, you must assign each owner to the property first. To do this, go to "Properties" in the left side menu of your dashboard and press the "view" button for the property. Then, switch to the “Owners“ tab and click “+ Assign“. Select the desired owner from the drop-down list and press "Update" to save the changes.
These links might be helpful:
Can I connect owners to properties if I am a property manager?
How do I set up management fees?
Dec. 4, 2023