How to Create a Single Consolidated Invoice for Tenant Billing

Easily simplify tenant billing by scheduling one consolidated invoice. The product represents the primary charge, such as rent or HOA dues, while services are any additional charges, such as utilities, taxes, or pet rent. In just two steps, you can bill everything together on one invoice, making payments easier for tenants and reconciliation easier for you.

What This Article Covers

Use the links below to jump to a specific section:

1. Add Surcharge Options  (utilities, taxes, or fees imposed by the state or city, pet rent)
2. Link surcharges to rent
3. Create multiple billing variations for different tenants for clients that may have tenants with variations of billing options (pet rent, sales tax, additional structure or space)
4. Frequently Asked Questions (FAQs)

Pro Tip: Before creating new surcharges, it's a good idea to check with your accountant about any preferred reference numbers or categories so everything stays accurate and consistent.

Step 1: Add Surcharge Options to Your Software

To create a consolidated tenant invoice, you'll first need to set up individual surcharge items for the fees you commonly charge, such as utilities, pet rent, or taxes.

Add a New Surcharge

In your Rentec Direct account: 

1. Click Settings
2. Under Financial, select Products & Services
3. Click the +Add Product button
4. Enter a clear Description (for example: Utilities, Pet Rent, Sales Tax)
5. Select the appropriate Class
   1. If the correct class isn't listed, choose Other
6. Uncheck Auto Number if you're entering it manually, or leave it blank to let the software auto-generate it for you.
7. Save New Product

Repeat these steps for each surcharge you may apply to tenants during their rent cycle.

Step 2: Link Surcharges to Rent or HOA Product

Once surcharges are created, you can attach them directly to the tenant's primary charge so they appear on the same invoice as rent or HOA dues. This could mean creating a new product for the various combinations

Follow these steps if all tenants incur the same recurring surcharges.

In your Rentec Direct account: 

1. Click Settings
2. Under Financial, click on Products & Services
3. Click the paper/pencil edit icon for 120 Rent Product
4. Click on +Add Surcharge
5. Under Surcharge
   1. Select the Product
   2. Enter the Amount
   3. Indicate if it is a Fixed rate or a Percent
6. Save Changes

Follow these steps if tenants can incur varying recurring surcharges.

If there are several potential combinations of charges, you will need to create new Rent Charge products to link the surcharges to, such as:

• Rent plus one monthly pet rent
• Rent plus sales tax, plus two monthly pet rent

In your Rentec Direct account:

1. Click Settings
2. Under Financial, click on Products & Services
3. Click +Add Product
4. Add a Description for your product or service (example: Rent plus sales tax, plus one pet rent)
5. Use the dropdown to select a Class for the monthly primary charge (Rent or HOA)
6. Enter your preferred Reference Number or allow the system to AutoNumber
7. Click +Add Surcharge, then select the surcharge (repeat as needed)
8. Save New Product

Going forward, when moving in a tenant or posting charges, select the Product & Service that applies to the tenant for one-time or recurring charges.

Frequently Asked Questions (FAQ's)

Q) What is the benefit of invoice billing?

• Allows all monthly charges to post at the same time on one invoice  
• Simplifies compliance with itemized charge requirements
• Consolidates and notifies the tenant of all charges, such as storage, parking, pet fees, and any additional services you'd like to post to a tenant invoice/ledger, on or before the due date, based on your system settings. 
• Automatically numbers invoices

Q) Does this work for commercial billing?

• Yes, tenants of commercial properties, or those with Common Area Maintenance (CAM) or Ratio Utility Billing System (RUBS) charges, these charges will be set up as surcharges and then applied as CAM to individual tenants for invoicing. Learn more: Common Area Maintenance | CAM Charges