All types of rental costs, such as rent, service charges, and other costs, as well as invoices, stipulations, and index and graduated rent agreements, are managed on the Rental Costs page. Each rental agreement has its own Rental Costs page, which you can access by clicking the Rental Costs () icon on the rental agreement details page.

Navigation to Rental Costs Page

The rental costs page shows a snapshot of the main rental agreement details, all of which you can edit by clicking the Edit () icon on the rental costs page.  When you are viewing the rental costs page, you can navigate back to the rental agreement's main details page by clicking the Rental Agreement () icon.

Navigation to Rental Agreement Details Page

On the rental costs page, you can mange payment and invoice data associated with the rental agreement in the sections below.

Rent

The Rent section lists recurring payments the renter makes for their use of the rental space.  These payments are typically made monthly.

Rent Section

Refer to Manage Rental Payments for more information.

Service Charges

The Extra Costs section lists payments the renter makes in addition to the basic rent. These can include payment items like waste removal, cleaning, and maintenance.

Bank accounts selected for this type of payment must have the Additional cost type selection.

Refer to Manage Rental Payments for more information.

Other Costs

The Other Costs section lists additional payments the lessor makes in addition to the basic rent and the extra costs. Any payment items that do not belong in the Basic Rent and Extra Costs section should be added in this section. A cost like a fee for a parking stall may be added in this section.

Bank accounts selected for this type of payment must have the Other Costs cost type selection.

Refer to Manage Rental Payments for more information.

Index Agreements

In the Index Agreements section, you can include an agreement about payment prices' being subject to changes to a price index or consumer index in the rental agreement. Creating an index agreement involves selecting an index stored in the VertiGIS FM database and specifying rules about how and when changes to an index should result in an adjustment to the amount the rental agreement's payer pays. This feature is helpful if the amount the rental agreement's payer pays needs to be adjusted over time for factors like inflation.

Index Agreement Section

An index agreement also includes data like when an Index Type (whether adjustments should be available monthly or annually), thresholds that specify what conditions should be met before payment adjustments are met (for example, after the index's points increase by an amount greater than 1% from its original index), and what percentage of an index increase should be applied to the payer's payment amounts.

An index agreement is applied to a payment amount by setting the Modification field to Yes and selecting the Indicated check box on payment items you want to adjust. You can then select a date and amount to adjust the payments to in the Possible Alignment section. Refer to Manage Price Indexes and Apply Indexes to Payments for more information.

A contract or rental agreement can include both an index agreement and a graduated rent agreement, but they cannot both be applied to same payment items. You should only select one of the Indicated (index agreement) or Staggered (graduated rent agreement) check boxes in the payment item.

Contract of Graduated Rent

In the Contract of Graduated Rent section, you can include an agreement about how much the payer's payment will be adjusted over time in the rental agreement. For example, the rental agreement may include an agreement that the payer's payment amount will increase by 2.5% every six months, but not for the first year of the rental agreement.

Graduated Rent Agreement to Increase Payment Amounts by 2.5% Annually

After you apply a graduated rent agreement to a rental agreement, you can adjust the payment amounts in the Possible Adjustments section.

A contract or rental agreement can include both an index agreement and a graduated rent agreement, but they cannot both be applied to same payment items. You should only select one of the Indicated (index agreement) or Staggered (graduated rent agreement) check boxes in the payment item.

Possible Alignment

The Possible Alignment section lists the payment items that can be adjusted using an index agreement or contract of graduated rent. In this section, you can adjust contract payments per an index agreement and adjust contract payments per a graduated rent agreement. The procedure is identical for both types of adjustments.

Possible Alignment Section

To adjust the payment amount for a line item and programmatically create a new rental cost, click the adjustment you want to make, and click the Perform Index Alignment () icon.

Possible Alignment Section

This action removes the other adjustments from this table. Refer to Adjust Contract Payments Per Index and Adjust Contract Payments Per Graduated Rent for detailed instructions.

This section is only available if the contract or rental agreement's Type of Advance Payments property is set to Standing Invoice in the contract or rental agreement details.

Rental Invoice

The Rental Invoice section lists the invoices associated with the rental agreement.

Rental Invoice Section

For more information, including instructions on how to generate, print, and process invoices, refer to Manage Invoices.

Stipulations

The Stipulations section lists the invoices associated with the rental agreement.

Stipulations Section

For more information, including instructions on how to generate, print, and process invoices, refer to Manage Stipulations.