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cfwnole
Level 1

Increasing Rent on tenant

You'd think this would be in the Help function for rental property, but when we raise rent on a Tenant, how do I do that? Let's say "Sally"...her rent was $800 and we raise to $850.

HOW?? 

I must say that there aren't enough of these scenarios online to help.

Thank you.

[email address removed]

1 Comment 1
JoesemM
Moderator

Increasing Rent on tenant

Hello there, @cfwnole.

 

You can manually enter the increasing amount of the rent to your tenant when creating an invoice or another item for the charge. I'll show you:

 

  1. From the Home screen or the Customers menu, select Create Invoices.
  2. From the Customer: Job drop-down, select a customer or customer job.
  3. In the Amount column, enter 850 then fill in the necessary details.
  4. Click Save and New or Save and Close.

 

To create another item for your rent.

  1. Go to the Lists menu.
  2. Choose Item List.
  3. Click Item drop-down, then select New.
  4. Choose Service.
  5. Enter the desired name of the item and the specific amount.
  6. Choose the Account where you want to post your property maintenance income and expenses.
  7. Click OK.

Also, we can create memorized transactions so you'll get a reminder every time you need to create an invoice/sales receipt.

 

  1. Enter the transaction the way you want it to show up each month. 
  2. Select Memorize [Transaction Name], from the Edit menu.
  3. Enter a Name.
  4. Enter any other info, then select OK.
  5. Select Save & Close or Save & Next.

 

For additional insights, you may check out these articles:

 

I've added our Income and expenses page, it provides topics that might help you with future tasks in QuickBooks.

 

Keep in touch if you have additional questions about recording rent, or if there's anything else I can do for you. I always have your back. Have a good day.

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