How to Adjust Rental Share for Tenants in Propoly
You can alter the share of rent each tenant is responsible for within the Propoly platform for the purposes of referencing.
This is useful when, for example, only one partner in a relationship has an income, or where a group of sharers rent a property where they will have varying access to certain facilities, such as a balcony or an en suite bathroom.
Step 1: Find the Deal in Propoly
To adjust the rental share for tenants, you first need to find the deal in Propoly. Simply search for the property in question, and click on the "View Deal" button.
Step 2: Select "Edit Tenant" from the Sidebar
Once you have opened the deal, you will see a sidebar on the left-hand side of the screen. In this sidebar, you will find a section labelled "Tenants" where all of the prospective tenants will be listed. Click on the button that looks like three dots arranged vertically next to any of the tenants.
This will open a drop-down menu. From the menu, click on the "Edit Tenant" option.
Step 3: Adjust the Rental Share for each Tenant
After selecting "Edit Tenant" you will be taken to the "Update Tenant" page where you can make changes to the tenant's information. Near the bottom of this page, you will find a section called "Share of Rent".
Here, you can enter the amount of rent that this tenant is responsible for. You have full control over how much each tenant will contribute towards the rent. Once you have entered the correct amount for one of the tenants, the system will automatically split the remaining rent between the remaining tenants to ensure the full amount is accounted for.
Step 4: Save
Once you have adjusted the rental share for the tenant, click the "Update Tenant" button at the bottom of the page.
When you make changes to the Tenant's rental shares on the Propoly platform, they will automatically be sent to our referencing team so they will be aware of any changes you make. As long as the referencing process has not been completed yet, the final reports will reflect the new rent share you have set.
Please be aware that the rental share is primarily for referencing purposes and does not affect the tenant's legal liability to pay rent. All tenants and guarantors remain jointly and severally liable for the entire rent, irrespective of how the rental shares are set.
We hope this will make it easier for you to manage your tenants' rent shares. If you have any further questions or need assistance, please don't hesitate to contact our support team.