New Tenancy

🏘️ Management Type

What is the Management Type for this Tenancy?

Choose from the following options:

• Fully Managed – Full service including inspections, maintenance, and compliance

• Rent Collection – Rent collection only

• Let Only – Marketing and tenant placement only

• Custom Management Type – Tailored service levels (e.g., Bronze, Silver)

💰 Commission Details

What is the commission for this tenancy?

• This field is pre-populated with the default value from Property Details #3, but can be edited if needed

• Specify whether the fee is charged as a Fixed Fee or Percentage, and enter the amount

• This commission is charged to the Landlord

You can enter different values for the first payment and subsequent payments, allowing for initial payment loading

🏷️ Rent Amount

How much is the rent?

The rent amount will be automatically populated based on the Price set within the Property record. You can adjust this if needed.

📆 Rent Frequency & Payment Date

How often will the rent be paid?

Specify the payment frequency (e.g. Monthly, Weekly, Fortnightly, 4 Weekly).

When will the rent be paid?

Choose the day of the month the tenant will make payments. A system configuration allows you to:

• Set the payment date to align with the anniversary of the move-in date, or

• Choose a specific day of the month

📊 Pro-Rata First Rent Payment

Would you like to pro-rata the first rent payment?

Enable this option if the first month’s rent should be adjusted based on the gap between the tenancy start date and the first payment date.

📌 Example: If a tenancy starts on the 31st and rent is due on the 1st, Acquaint will generate a one-day invoice for the gap.

💳 Payment Method

How will the rent be paid?

Select the Payment Method the tenant will use (e.g. Direct Debit, Bank Transfer, Cash).

🧾 Tax Rate on Rent

What tax rate is applied to the rent?

• Residential Properties: Defaults to 0% / Tax Exempt

• Commercial Properties: Defaults to 20% / New Standard VAT

Once saved, Rent Due transactions will reflect the selected tax rate. This tax rate will also be used for:

• Auto Renewals

• Tenancy Extensions

💰 Upfront Rent Payment

How much upfront rent has the tenant paid today?

Enter the total amount the tenant is paying at this stage.

• Use the + / – buttons to adjust the amount in increments based on the rent value

• If no rent has been received today and the tenant will pay prior to check-in, enter £0.00

🧾 Available Credit

Available Credit on Tenant’s Account Displays the current credit balance available on the tenant’s account.

Would you like to use the available credit to pay rent?

If credit is available, this option will be enabled.

• Selecting it will apply the available credit toward the rent payment

🏛️ Rent Benefit Details

Use this section to configure rent benefit payments for tenants receiving housing support.

✅ Does the Tenant Receive Rent Benefit?

• Select Yes if the tenant receives rent benefit

• Additional rent benefit fields will appear

• Rent benefit will be recorded as a separate transaction in the accounts screen

💷 Rent Benefit Amount

How much rent benefit does the tenant receive?

• Enter the amount of rent covered by rent benefit

• This allows for rent top-up to follow a different payment schedule

  • Example: Tenant pays weekly in advance, while the council pays 4-weekly in arrears

📆 Rent Benefit Frequency & Payment Date

How often will the rent benefit be paid?

• Specify the payment frequency (e.g. Weekly, 4 Weekly, Monthly)

When will the rent benefit be paid?

• Choose the day of the month the payment is expected

• Typically set to End of Period for council payments made weekly or four-weekly

🏦 Payment Destination

How will the rent benefit be paid?

• Select the account into which the payment will be deposited

  • Options may include: Client Account, Current Account, or Deposit Account

🔐 Guarantor Details

Do any of the tenants have a guarantor?

• Select Yes if you wish to add a guarantor to the tenancy

How to add a guarantor:

• Right-click on the tenancy and select Set Guarantor

• Enter the guarantor’s details, which can also be used in the generation of letters and documentation

Removing a guarantor:

• If a guarantor has been added in error, right-click and select Remove Guarantor

🏠 Permitted Occupier

Are there any additional permitted occupiers?

• Select Yes to add individuals who will reside at the property but are not listed as tenants

Note: The process for adding a permitted occupier is similar to adding a guarantor and ensures accurate record-keeping for tenancy agreements and legal compliance.

🔍 Will Inspections Be Performed on This Property?

Select Yes if you plan to carry out inspections during the tenancy. This enables inspection scheduling and related reminders.

📅 First Inspection Due

Specify the date of the first inspection. A reminder will appear on the Home Page as the inspection date approaches.

🔁 Inspection Frequency

Indicate how often inspections should be performed for this tenancy (e.g. every 3 months, 6 months, annually). This helps automate future scheduling and reminders.

📆 Second Inspection Date

The system will automatically calculate the second inspection date based on:

• The first inspection date

• The inspection frequency you’ve selected

💬 Are You Charging Any Additional Fees to the Tenant?

If you intend to charge optional fees—such as for credit checks, reference processing, or administration—select Yes. This will reveal additional fields allowing you to itemize and record these charges.

➕ What Fees Are Being Charged?

To add a fee:

1. Click Add

2. Select the relevant Product from the dropdown list

3. Enter the amount to be charged

You can add multiple fees as needed.

💳 Has the Tenant Paid These Fees?

Indicate whether the tenant has already paid the listed fees. This ensures accurate financial tracking and updates the tenant’s account accordingly.

💼 Additional Landlord Fees

💬 Are You Charging Additional Fees to the Landlord?

If you intend to apply optional fees—such as for administration, compliance checks, or marketing—select Yes. This will reveal additional fields allowing you to record and manage these charges.

➕ Adding Landlord Fees

To add a fee:

1. Click Add

2. Select the appropriate Product from the dropdown list

3. Enter the fee amount

You can add multiple fees as needed, ensuring accurate billing and financial tracking.

➕ Would You Like to Add Additional Clauses?

You can include optional tenancy clauses such as:

• Break clauses

• Pet clauses

• Custom paragraphs specific to the agreement

These clauses can be configured as merge fields for use in Tenancy Agreement templates

🛠️ How to Add a Clause

To add a clause:

1. Click Yes

2. Go to Menu → New

3. Select Clauses

💰 Total Being Paid

• Enter the total amount being paid by the tenant at this stage.

👤 Received By

Which user received the payment?

• This field is automatically populated with the user who is adding the tenancy

• You can manually update it if the payment was received by a different user

📅 Payment Date

When was the money received?

• Specify the date the payment was received from the tenant

💳 Payment Method

How did the tenant pay?

• Select the payment method used (e.g. bank transfer, cash, card)

📆 Payment Schedule

The Payment Schedule tab provides a preview of how payments will be structured for the tenancy. Before clicking Save, it’s recommended to review this tab to confirm:

• The tenancy summary

• Expected payment amounts

• Associated commission details

✏️ Editing a Tenancy

After a tenancy has been created, it can be modified at any time using the Edit Tenancy option.

🛡️ Deposit Replacement Service

For information on alternative deposit options, you can read more about the Deposit Replacement Scheme*.

• Rent Benefit

• Additional Tenant Fees

• Additional Landlord Fees

• Additional Clauses

• Inspection Details