Lesson 2, Topic 3
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Creating Tenancy Agreements

Emma 6 April 2021
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Once you have your Property and Owner created, you can assign a tenancy to your property. 

The Tenancy Agreement in Cloud holds the fundamental information of the lease and is where recurring invoices can be set.

To add a tenancy agreement, open the Property, then choose Add New Tenancy. Alternatively, you can select Add New from the tenants view

Select from the list an existing contact, or select Add New if required. 

Once you’ve created your primary tenant, additional tenants can be added by searching or adding new

Select Save and Next once done

Enter the lease details

*Note: Fees will display based on the owners agreement, ie if the first rent receipt for the agreement is charged then a letting fee must be attached to the Owners agreement

When entering rent, select to include or exclude GST and enter the rent amount

Select if you’d like to create recurring rental invoices, select the checkbox then choose the date to send the next invoice on and the Invoice due date

Note: Console Cloud will display a warning if there are any issues with any of these dates

Select the period to show on the next invoice. This can be the current period or next if you invoice further in advance

Enter the amount due excluding GST

Select if you would like to add GST or not. This will be greyed out if you have not enabled GST on rent in the rent section of the Tenant agreement.

Note: If there is a gap between the paid to date and the due date, a warning will appear under the amount due section. This may be because you started a rent period halfway through the month. In this situation, you would manually invoice the tenant via Accounts then select Invoices, for this period.

A summary of what will happen will display in blue, please check this and all information before saving

You can then add a recurring outgoing invoice, once again select the dates and the period to show on the next invoice, you can also choose to Use Tenancy Rent Periods by selecting the check box

Select the dissection, enter the description and enter the amount

When entering bond, you have the option to select held in trust, or held externally

If you choose held externally, you’ll have 4 options to select from for where that bond is held

Make the appropriate selection and enter the fields as required to reflect the holdings of bond

Once done, select Save and Next

In the final screen, you can then schedule a Routine Inspection

If your office is with Console Pay, you can then setup your tenants payment schedule from this screen

Finally, enter any rent reviews for the lease by selecting Add Another Line

Choose the type of rent review and enter the amount accordingly

Once done select Save, or skip the step if you’re not yet ready to enter this information

You’ll then be presented with the Tenants Agreement view where you can see all information relevant to the tenancy

Scroll down to add any tenancy insurance and or compliance

Within the tenancy, you can also add and update rent reviews, rent deductions, add invoices and check balances