Tenancy - Pre Tenancy

The Pre-Tenancy function is used when an Applicant expresses an interest in renting a Property. During this stage references can requested and verified, when you are happy to proceed you can change the Pre-Tenancy to a Tenancy. This is done by right-clicking on a Pre-Tenancy and choosing Change to Current Tenancy.

A Pre-Tenancy requires both a Property and Tenant. The Property being rented must already exist in Acquaint before a Pre-Tenancy can be added against it, however the Tenant can be added during the Pre-Tenancy set-up.

When a Pre-Tenancy is setup an Accepted Offer is automatically created against the Property and the Property Status is changed to Under Offer.

Access the Pre-Tenancy function quickly from the New Items icon on the Main tab.

Alternatively, the Pre-Tenancy function can also be accessed as follows:

From the Property screen by clicking on the Tenancies icon and selecting the Pre-Tenancy option from the Menu button.
From the Tenancy List screen by clicking on the Pre-Tenancy option under the Menu button.

Pre-Tenancy screen

Adding a Pre-Tenancy

https://www.youtube.com/watch?v=vyIZvcGko98

Under the General Details tab enter the details as follows:

Property
Tenant
Start Date
Duration/Interval
Rent
Payment Frequency
Deposit

A warning message 'The deposit amount is above the legal maximum deposit' will appear if the deposit amount is above the legal limit.

Deposit Held By - select from Deposit Account, Paid To Landlord or Custodial Scheme
Set up Fees to Collect Tenant Fee #1,#2 and #3 - this is used for the payments you are taking up front (where permitted)
Holding Deposit - this uses a Holding Product and will appear on the receipt. The Max holding deposit will be displayed.

A warning message 'The deposit amount is above the legal maximum deposit' will appear if the deposit amount is above the legal limit.

Upfront Rent Received - for any Rent that is being paid upfront which will appear as an unallocated credit.
Payment Method
Bank Account - this is the account (Client, Current, Deposit)you want to post the setup fees and deposit to
Total Due
Received Date - enter the date, this may be back dated if required.
Received By - the user that took the deposit

Under the More Details tab can have the options to enter the following details:

Payment Frequency
Payment Day
Offer Notes - this will be saved in the Notes field for the Property Offer in the Details Sent/Offers screen
Guarantor

When Pre-Tenancy details are complete click Save and a prompt will ask whether you wish to 'produce a receipt for the Tenant?'.
After choosing to print a receipt Acquaint will advise you that the offer has been added against the Property and the fees have been added to the Tenants account. You will now need to perform the Credit checks and obtain References before you can change to a Current Tenancy. Click the OK button and the Tenancy will be created with a status of Pre-Tenancy.

Once the Pre-Tenancy has been set-up the property status changes to 'Under Offer'. As you now have most of the necessary details you can set-up the Tenancy or choose to do this at a later date.

The Payment Frequency field will default to the price frequency of the property. For properties with a frequency of per night the payment frequency field will default to Weekly.
A default amount can be specified by entering the amount against the Holding Product in File → Configuration → Financial → Products
Due to the legal deposit cap which limits the amount a Tenant can be charged in addition to rent, a warning will appear if the Deposit or Holding Deposit entered is above the legal maximum although you will still be able to continue.
The maximum holding deposit will be rounded to the nearest pound (by default) but can be changed to pence in File → Configuration → Site/Branch → Lettings → Deposit Rounding → Penny Round Down.
A System Configuration setting optionally set the default of 'Pre Tenancy Set as Receiving Payment' to No.

Edit Pre-Tenancy

From the Contact's record click Tenancies and right click on the Pre-Tenancy and choose Edit. Alternatively use or using Menu → Edit Tenancy from the Tenancy List.

Details can be changed under the General Details and Tenants & Guarantors tabs.

Note: This screen does not allow you to change the contact or property the tenancy is linked to and doesn't create any transactions (either fees, upfront rent or holding deposit)

Pre-Tenancy Next Steps - Cancel or Change to Current Tenancy

From the Contact's record click Tenancies and right click on the Pre-Tenancy. The next step after a Pre-Tenancy is to either:

Cancel - If the references fail or the Tenant no longer wants to proceed with the Tenancy you can right click on the Pre-Tenancy and choose Cancel-Tenancy
Change to Current Tenancy - if the references have been accepted and you are happy to proceed with the Tenancy right click on the Pre-Tenancy and choose Change to Current Tenancy