Automatic Rent Escalation

Instead of manually updating a lease amount in the system, you can save time by using the  Automatic Rent Escalation feature to do that task for you. You can add in an Automatic Rent Escalation when you: 

  • Place a Tenant into a property. 
  • Update Lease terms in the software. 

Important note: Online rent payment schedules do not update automatically. If you or your tenants set up an online rent payment schedule the dollar amount scheduled will need to manually increased.

More information on online payment scheduling can be found here: Scheduling Online Payments for Tenants

Automatic Rent Escalation When Placing a Tenant in a Property (Move-In)

The Automatic Rent Escalation feature can be turned on at the time you Place a Tenant into a property.

More information on moving a tenant into a property can be found here: Place Tenant Into a Property | Move-In
In your Rentec Direct account: 
  1. Click Properties
  2. Click the Place New Tenant link and enter the Tenant Information details 
  3. Find and click the checkbox labeled Enable Automatic Rent Escalation
  4. Answer the questions and click the Place Tenant button to setup automatic rent escalations.

    Automatic Rent Escalation When Placing a Tenant (move in)

A rent increase will now be issued automatically on the date and interval you specified.  

Automatic Rent Escalation When Updating a lease

At anytime after you've placed a tenant into a property, you can set up Automatic Rent Escalations based on your lease agreement. 
In your Rentec Direct account:
  1. Click Tenants
  2. Right-click and choose Update Lease from the menu
  3. Click the Setup Automatic Rent Escalation button on the bottom left.
  4. Answer the questions and click the Save Rent Escalation Settings button.  

    Enabled Automatic Rent Escalation

Correcting Errors or Disable Option    

If something about the Automatic Rent Escalation settings is incorrect or you need to disable the option follow these simple instructions. 
In your Rentec Direct account: 
  1. Click Tenants
  2. Right-click and choose Update Lease from the menu
  3. Either click the Edit Rent Escalation Settings or Disable button depending on your needs. 

Edit or Disable Automatic Rent Escalation

Note: The interface for changing settings is the same as when entering the settings and can be changed at will. 

Did this answer your question? Thanks for the feedback There was a problem submitting your feedback. Please try again later.

Related Articles