A lease can contain one Service and multiple Features, all of which are billed according to the selected billing period. Service usually includes the rent, while Features can include Parking, Locker, utilities such as Hydro, Water or Gas, Cable, pet payments etc.
A lease can only have 1 service. A service cannot be changed after lease activation (although the amounts can be adjusted if required).
A lease can have multiple features. Features can be freely added before and after lease activation. To add, remove or modify a feature of an Active Lease press Actions- Lease Terms- Current, then Versioning -> Edit Draft and scroll down to see the Features section. If you're adding a feature make sure to set correct Agreed Price, Effective Date and Expiration Date. They can also be removed this way.
Applying the changes
After making the changes press Save. Make sure that everything is entered correctly and then press Versioning -> Finalize.
These Adjustments are applied every billing cycle. They can be added to both Services and Features. Adjustments represent a way to modify the price of a Services or Features for an active Lease. Adjustments have their own Effective Date and Expiration Date, make sure to set this correctly. Enter a positive Adjustment Value to increase the price of a Service or Feature and a negative Adjustment Value to decrease it. You can enter an adjustment by clicking on Views-->Lease Terms--> Current. Click on Versioning then edit draft. Then click on adjustment underneath the service item (Rent). Once you do the increase as explained above, click save. Then click on versioning and finalize. You should see the increase now. More about adjustments you can read here:
These adjustments are only applied once. Navigate to the Adjustment tab on the Lease and press the New Lease Adjustment button. Make sure you select a Code with correct Type - Account Charge if the tenant needs to pay extra or Account Credit if the tenant needs to pay less. In both cases the entered Amount needs to be a positive value. There is also Targeted Credit which will pull the AR codes that are linked to the lease and pull balances if there are any. Execution Type can be set to Immediate if the charge/credit has to be applied immediately, or Pending if it needs to be applied for a future date. Save the Adjustment, make sure everything is entered correctly and then press Actions -> Submit.
One-Time Lease Adjustments selected as Credits can be assigned Target AR Code to cover, or None to cover multiple outstanding charges according to AR Setting (Finance Policies).
The financial effect of the changes will not be visible immediately. It will be displayed only in the next bill. If Effective Date of a new Feature or new Adjustment is in the past or empty then the charges will be applied retroactively.
Lets say today is May 1st and we add a new Parking with Effective Date = April 16th, Expiration Date = empty, Agreed Price = $10. Lets say our lease is billed on 1st of every month and a bill is generated 2 weeks in advance (default settings). As a result, the tenants will see the charges in their June bill, which is generated on May 17th. The charges will show extra $25 for Parking - that is, $5 for April 16th to 30th, $10 for May and $10 for June. The tenant will be required to pay the bill by June 1st. The July bill will only have $10 in Parking charges, as will other bills after that.