The Application Charges Policy allows you to set various rules as they relate to application charges.
This step-by-step guide will help you configure your Application Charges Policy.
- Go to Administration → Policies → Finance→ Application Charges.
- Click on the organization policy to open it.
- Go to the Rent tab to set what is charged when application is submitted → click Save after changes have been made. Options include
- Include Rent Charges - Includes the payment of rent charges with the application.
- Include Prorate Only - Includes only the prorated amount to be included with the application.
- Include None - Excludes any rental-related payments for the application.
- Go to the Deposits tab to set if you want to collect deposits with the application. By checking the box Include Deposits, the system will include ALL Deposits to be taken with the application, i.e. main security deposit plus key deposit.
- Go to the Fee tab to set application charges and fees → Click + Add to add a new fee → Fill out the fee information.
- Amount: The amount to be charged.
- Payment: The amount above to be charged per Lease or per Applicant.
- Refundable: By checking this box, the fee may be refunded later.
- AR Code: Different types of fees can be mapped to different GLs in accounting as required.
- Go to the Misc tab to set miscellaneous settings:
- Process Payments on Approval: By checking this box, the system will automatically process the payment on file as per the rules. By not checking the box, the charges will have to be manually submitted.
- Click Save once changes have been made.