Sunday, February 05, 2012

Rent Figures in PM3

Our FREE Landlord Software, Property Manager 3.0, or PM3 for short, creates Rent figures as they become due. If you have a monthly tenancy starting on the 8th of the month, and login to the system on 7th February, you will not see a rent figure for 8th February. Login the next day, 8th February 2012, and the figure will appear.

This is logical enough, but we know it confuses our users when they are getting used to the system: "really not finding how to enter rent payments" was recent feedback. Our reason for doing it like this was that it reduces the work for you, and means that the expected rental income position is always up to date.

We will keep this under review. We know it makes life difficult for landlords doing short lets, holiday lets, or lets to students for an academic term.
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24 comments:

  1. karendFebruary 24, 2012 at 5:15 PM

    Have just entered a one off rent payment in advance for six monthly payments. Paid in Dec up to June. While the overpayment shows clearly in the graph and on the edit all rents boxes, the following months don't carry over the credit. Therefore it shows as an over payment followed by ORPs. I can either change this as if he paid monthly, or change the rent owing box, neither of which is quite right

    ReplyDelete
  2. LynneFebruary 28, 2012 at 5:21 PM

    We have a tenancy that started on 28th Jan but we agreed to take rent on the 1st of the month and make it an AST of 6 months and 4 days, with the first month's rent being increased to cover 28th Jan - 29th Feb. IS there any way to adjust the automatic rent demand so that it doesn't keep telling me the rent is due on the 28th, or do I just have to alter the tenancy start date to the 1st and put in a higher rent for the first month?

    ReplyDelete
  3. AnonymousFebruary 28, 2012 at 5:45 PM

    Hi Lynne, If you click on the tenancy, then click on edit tenancy in the right hand column. Edit the "Due day(day of the month)" box to set the payment date to whatever you wish without changing the actual tenancy details. Hope this answers your question.

    ReplyDelete
  4. LynneFebruary 28, 2012 at 6:39 PM

    I've just been to do that and found that I've already got it set to "1" so I must have found that when I first set the tenancy up. Unfortunately, though, it it doesn't seem to be working; when I logged in earlier today it was saying that the rent was due today (28th). Even after I've manually changed the due date to 1st March, it's still showing up as having an overdue payment.

    ReplyDelete
  5. AnonymousApril 6, 2012 at 11:20 AM

    Hi, not sure how it happened but my list of rents for a property for 2011/12 is missing 2 complete months, July and August 2011. I am looking for a way to enter them manually, however there doesn't seem to be anything in PH2 or PH3 that allows for this. Can anyone help?

    Thanks in advance

    Clive

    ReplyDelete
  6. AnonymousApril 11, 2012 at 5:18 PM

    Hi Clive

    Did you end the tenancy or delete the rent requests? If you feel the rents have just disappeared i would contact the PH team direct and they will resolve it through the database.

    ReplyDelete
  7. AnonymousApril 14, 2012 at 12:57 AM

    eginI cant seem to get the PM3 software to recognize a partial month's payment. For example, if a tenant moves in on March 21, 2011 with the lease expiring on April 30, 2013, with rent due on the first, (except for the first partial month of 10 days). I can't get the software to reconcile the partial month..
    ANY SUGGESTIONS?? BROOKS

    ReplyDelete
  8. SaleemMay 2, 2012 at 12:34 PM

    Hi all, I have just started using this programme and am impressed with it. I wish to store all my tenancy records including previous tenancies in this system and have entered these details. Now here's the problem - I cannot find how to show receipts for rents already collected as the system does not seem to allow me to do that.

    Any help will be appreciated

    Thanks

    ReplyDelete
  9. Margo LeadbetterMay 2, 2012 at 12:44 PM

    Hi Saleem

    Create the historic tenancy details. By first creating the tenancy and then go to the End tenancy link. The rents can be quickly added for a tenancy by using the Quick tick rent page.

    Hope this helps

    ReplyDelete
  10. AndyMay 21, 2012 at 1:21 PM

    Why can't I create rent figures? I have just added a historic tenant with PCM rental figure and historically it hasn't added the rental payments so my rental income to date is zero. What am I missing?

    ReplyDelete
  11. The EditorMay 21, 2012 at 5:38 PM

    Thanks for adding your comments. In future please post your questions and comments to our new Forum. All questions about the Property Manager will be answered here.
    http://www.propertyhawk.co.uk/landlordforum/index.php?forums/pm-3-0-tips-ideas.6/

    ReplyDelete
  12. RickSeptember 15, 2012 at 2:21 PM

    Please please please allow us to edit future rents too....! I find it more confusing when they are not displayed.
    Great system thought! Thanks!

    ReplyDelete
  13. AnonymousJanuary 2, 2013 at 1:53 PM

    Hi,

    I've a new tenancy set up and I think I've entered all details correctly. The system is not showing any rent requests and won't allow me to use the 'Rent Edit' button. I must be doing something wrong, please help!!
    Linda

    ReplyDelete
  14. HawkeyeJanuary 3, 2013 at 3:06 PM

    Hi Anonymous,

    Check the start date of the tenancy. It may be that no rent is due as of yet.

    PH

    ReplyDelete
  15. Kathrin WilliamsApril 3, 2013 at 6:15 PM

    Hi there,
    I have just started using the software and I really like - it will be a great help. Just wondered if it would be possible to add a feature to enter repeat expenses/standing orders for things like ground rent or management fees for flats so that they can be entered for a whole year similar to the mortgage payments and taken into account for the cashflow forecast; it would also be much quicker than having to enter the individual payments every month?

    Also, where should I enter interest earned on the bank account - I have put this under reverse premiums as I could not see anywhere else to enter this as an income to be considered for tax return?

    Would also be possible to print off a summary report for each year - I did this in the end by emailing myself the tax return but wondered if there would be a better way?

    Many thanks. Great software - and for free!!

    ReplyDelete
  16. The EditorApril 4, 2013 at 5:48 PM

    Hi Kathrin,

    Thanks for your comments. We will have a look at the points you raised as part of future upgrades.

    PH

    ReplyDelete
  17. MartynJune 4, 2013 at 1:32 PM

    Hi. I have just started trying to use PM3 with some seriousness and a couple of little problems with your very excellent software have bugged me. 1) If I enter an overpayment - say for Housing Benefit double payments in a month, or for a deposit by the tenant for gas charges raised on our client / owner and sent to us for payment by the Block Manager - not us... how do I reflect it?
    2) I have backdated a tenancy but it doesn't automatically (yet) create rent expectations.. 3) That same tenant has deserted mid-tenancy and I want to end the tenancy but with a debt to be recovered showing up...? 4) If I change the rent due dates - because of an earlier mistake - the system doesn't seemingly automatically reset the rent dates historically to that date (as far as I know today - the day I changed some)

    ReplyDelete
  18. The EditorJune 4, 2013 at 7:38 PM

    Hi Martyn,

    Thanks for you feedback. Probably the best thing if you have a specific question on PM 3.O is to send us an email: chris@propertyhawk.co.uk

    ReplyDelete
  19. inxpsMarch 7, 2014 at 9:09 PM

    Hi, when I registered a tenant, I mistakenly entered the rental starting date later than the actual date, for e.g. 01-Jan-2014. When I changed to actual date, i.e. 01-Nov-2013 (2 months earlier), the rent detail doesnt show that 2 months in the list (Nov and Dec). How can this be shown?

    ReplyDelete
  20. HawkeyeMarch 10, 2014 at 10:33 AM

    Hi inxps, If you are still experiencing the issue with the rent, I would advise you to delete and create a new tenancy. It is a very quick process and should resolve the issue.

    ReplyDelete
  21. AnonymousMay 22, 2014 at 11:22 PM

    Hi

    How do I print of a yearly Rent Summary i.e Jan to Dec rather than all years as I normally do it at the end of the year.

    ReplyDelete
  22. RicOctober 8, 2015 at 11:51 AM

    It would be so helpful if there was a facility to make rent payments PRIOR to the tenancy commencement date. I have a tenancy starting in two months but is paying her first months rent in instalments.

    Many thanks

    ReplyDelete
  23. AnonymousApril 20, 2016 at 11:42 AM

    SUGGESTION: Allow recording of payments in advance. When a tenant makes an overpayment (eg next 3 months' rent paid in advance) the software continues to show ORPs for each subsequent month even though it's already been paid for. Haven't found a good workaround for this yet. The programme is excellent though.

    ReplyDelete
  24. malciaJanuary 7, 2021 at 4:24 PM

    PM3 is good however I cannot seem to increase the rent on an existing tenancy - which means I tediously have to edit the due rent each time I record the actual rent - is there some other way to do this?

    ReplyDelete