The default configuration for applying a management fee relating to collecting rental income is to charge percentage (10%) of the rent collected. However, if this setup does not match your agency's way of working then it can be modified via Account Settings > Modules > Lettings > Rent & Config > Fees, and then select Set Management from the Options menu.
The Fee Type can be set to one of the following options:
- % rent collected (default)
- % rent due
- flat fee monthly
- flat fee per rental period
The fee value is calculated according to the fee type selection and will then be applied on the Due Date, which may be set to one of the following options:
- First day of rental period
- Immediately (default)
- Last calendar day
- Last day or rental period
- Specified calendar day
The Default Fee Value depends on the fee type, i.e. either a percentage or monetary value.
A letting fee may also be charged when a tenancy is created, and its default value of £250.00 may be modified in this fee configuration page.