How to set the default rent collection type

Modified on Tue, 26 Mar 2024 at 12:07 PM

Defining who owns the rent in Arthur's finance module is a fundamental step to ensure that your set-up reflects your business. This is particularly important if you intend to integrate with cloud accounting software later on. To identify your rent collection type, you must define your "Default tenancy rent transaction type". There are two different rent transaction types:

  1. Direct rent - used by those that self-manage, i.e collecting the rent for themselves, (also guaranteed rent businesses). The rent collected is defined as an asset to the business. e.g. self-managing landlord, Rent2Rent
  2. Rent charge is used by those who manage on behalf of 3rd parties. e.g letting agent, management companies


Some Arthur clients are a mixture of both so we suggest setting your default position to the most common rent collection type.

  

Set up the default rent collection

Go to Preferences >Financials Choose Direct Rent if your self-managing or Rent Charge if you manage on behalf of a landlord.       

       

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