You can add a regular recurring charge to a property (and hence the landlord).
- From the property overview screen, choose New > Charge.
- Alternatively, you can do this via the List Charges page. Go to Financial > List Charges > Add Charge.
- Select the type of charge (fee or expense).
- Specify the ex-VAT value. The system will automatically work out the appropriate VAT value, if relevant.
- By default, charges are created as single one-off charges, so the Recurring checkbox is set to No. Change this setting to Yes and you can specify how often the charge will be applied.
To apply a charge every year, set the frequency to 12 months.
- Provide a Description on the nature of the charge.
- Click Save.
Recurring charges with a start date in the past will create all charges from that date, provided it is after the system start date. If the system start date is later, it will create charges which occur on or after that date.
Add a recurring charge for the duration of a tenancy
It is also possible to apply a recurring property charge to only during a tenancy period, ideal for applying fixed-amount management fees.