To add a new rent charge element to an asset

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The procedure to add a new rent charge element to an asset is as follows:

  1. Using the global search facility, type in the first few characters of the asset address 1.
  2. Double-click on the row containing the exact record match. Where the expected record is not listed, a more advanced search can be conducted using the spy-glass icon ().
  3. Click on Asset Details. The Asset Details window is displayed for the current asset.
  4. Click on Rent Details. The Asset Rent Details window is displayed.
  5. Click on Charges. The Charges tab is activated, revealing a list of all asset charges in the Charges summary table.
  6. Double-click on the specific asset charge onto which an element will be added. The Asset Charges window is displayed.
  7. Click on Elements. The Elements tab is activated.
  8. Click on New Element. The Charge Element window is displayed.
  9. Using the Element Type drop-down field, select an appropriate parameter value for the asset charge component e.g. Basic Rent, Service Charge, Heating, Insurance, etc. 2. The Source field is automatically populated with the origin of the element e.g. Manual Update, Data Import, Rent Increase, etc.
  10. Enter the element Base Value into the field provided  i.e. the non-adjusted charge amount 3. The Actual Value (i.e. the amount to be charged at the selected frequency) will be calculated automatically using the associated rent cap.
  11. Enter the Last Review Date for this element charge using the calendar icon (), or type in the value directly (format DD/MM/YY or DD/MM/YYYY) i.e. the date on which a review of the charge value was last conducted.
  12. Enter the Next Review Date using the calendar icon (), or type in the value directly (format DD/MM/YY or DD/MM/YYYY) i.e. the date on which the next review is scheduled for this element charge.
  13. Click on Confirm 4. The new record is displayed in the Elements summary table.
  14. Click on Save 5. The Total Base Value and Total Actual Value fields reflect the additional charge component.


Note

1 The search facility will return all possible matches for any corresponding address field once the Number of characters before an automatic search commences system preference is reached.

2 Adjustment charge elements are excluded from the selection list.

3 The Base Value is the latest calculated rent charge element prior to a cap being applied, and will be inactive for charge elements configured as points based.

4 The Updated By and Updated Date fields are automatically populated with the name of the end user adding the element charge and current system date respectively.

5 To amend the details of an existing asset charge element, double-click on the desired row in the Elements summary table and repeat steps 10 through 14; only a limited number of fields can be updated once a record has been created.


See related topics...

Rents setting management overview

To create a new rent charge for an asset

To clone a rent charge for an asset

To set a new standard rent value for an asset

Using the search facility