What is an Auto Charge?
What is an Auto Charge?
An Auto Charge is an automatically recurring charge set on a lease in Propertyware. Auto Charges can be used to automate rent charges or future increases to rent charges on any given lease. Once you set an Auto Charge a lease, any recurring charges will post as an entry on the Lease's tenant ledger based on the frequency of that recurrence -- for example, if you set up a recurring Auto Charge of monthly rent to appear on the first of every month, the that rent charge will appear within the tenant Ledger every month on that day. Once it posts, you can edit an Auto Charge from the lease's tenant ledger.
Auto Charges vs. One-Time Charges
Propertyware allows you to create both recurring Auto Charges and One-Time Charges on a Lease. Unlike an Auto Charge, a One-Time Charge is a nonrecurring charge, meaning that it does not have a recurrence frequency and will display only as a one-time entry on the tenant ledger. One-time charges are useful for making nonrecurring adjustments to what a tenant owes in any given month. Examples include Application Fees and Lost Key Fees.
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Auto charges will continue to post until one of the following things happens:
When you pass the lease end date, it does not affect the Auto Charge, because the lease end date does not "automatically" reset the lease status. |
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