Adjust a Tenant's Rent Amount
If you need to correct an incorrect rent amount or manually adjust a tenant's current monthly rent, you can update the rent charge directly in your Rentec Direct account. For example, you may need to correct the rent amount entered when a tenant moved in.
These instructions are for changing the current rent amount, not scheduling a future rent increase or adjusting rent as part of a lease renewal.
To update future scheduled rent amounts, see these instructions:
How to Update a Tenant's Current Rent Amount
Follow these quick steps to manually increase or decrease a tenant's current monthly rent charge.
In your Rentec Direct account:
- Click Tenants
- Right-click the tenant's name and select Edit Tenant from the drop-down menu
-
Under Accounting Defaults, click the paper/pencil icon to edit
-
Enter the corrected rent amount in the Update Rent Charge screen
System note: If an Automatic Rent Escalation has already been enabled for the tenant, the system will display a notification. review the existing escalation, to see if it needs to be canceled. For more information, see Automatic Rent Escalations.
- Click Update Rent to save changes
The updated rent amount will apply to all future automatic rent charges.
Important: Updating Rent Does Not Change Previously Posted Charges
Changing a tenant's monthly rent amount automatically updates their ongoing recurring rent charges. However, it does not change rent transactions that have already been posted to the tenant's ledger.
If you need to correct a rent charge that has already been posted, you'll need to update that transaction separately.
You can correct previously posted rent charges using either of these options:
- Manually edit the transaction: Follow the instructions in Edit, Correct or Delete Transactions.