New leases can be added on a unit or can be automatically generated when an application is approved in a Campaign.
To create a lease on a unit:
Locate the unit you are wanting to add a new or upcoming lease to.
If the unit is currently empty, click Create Lease; if there is an existing lease, click Add Upcoming Lease.
Select the Lease Term type as 1 year, month-to-month, or a custom term which can be defined in monthly or yearly increments.
In the terms table, double click or use the pencil next to the dates to edit the Lease start and end dates.
Clicking the toggle next to Auto Renew will move the lease to be month-to-month once the lease end date has arrived.
To change the months for Custom select the term dates and use the up down arrows to change the number of months.
You can add Move-In dates at the bottom of the page to record the date they moved in. Recording this will allow you to review your history of move-ins.
Click Next: Additional Provisions.
Define whether pets, parking, storage, and smoking are allowed along with any utilities and services and furnishings and appliances included as part of the lease.
Click Next: Payment Details
Enter the base rent in Starting Rent. Enter the Security Deposit
If accounting is activated, when the lease is created a journal entry for the security deposit amount will automatically be created in the Receivables table.
Depending on your province you will be able to add Other Refundable Deposits.
If there is a rent schedule or rent incentive, selecting to activate either of those will present additional options and prompts for more details.
If there are additional monthly fees, you can use the dropdown list to select the appropriate fees and then fill in the amounts once your options are selected. These monthly fees need to be added from your account settings under the lease and unit tab.
Click Next: Select Residents.
Existing tenants can be added by searching for their name or email address. If you need to create a new tenant, select Add New Tenant and follow the prompts. If you are adding additional tenants select add new tenant again.
Click Next: Review Residents
Select which of your tenants are lease holders and who will be responsible for paying the rent. If more than one tenant is selected as a payee, you can adjust the amount that each is obligated to pay. Propra will create a rent invoice for anyone selected as a payee. If you only want one invoice generated each month only toggle on one payee.
To send the welcome email from Propra that includes instructions for accessing the tenant portal and requesting maintenance, turn the toggle on for Send all residents a welcome email?
Click Next: Payee Details.
Here you can define the preferred payment method for the tenant. By doing so, you'll be able to automate the posting process for deposits when it comes to fee collection.
Enter your placement fee amount (this is typically 50% of first months rent and in addition to your management fee. This will create a bill for the property to pay you the fee).
Select Create a placement fee revenue if you are doing corporate accounting in Propra. This will create an invoice for your company in the receivables table.
Click Create Residency.
The lease will now be created and attached to the unit.