When you move in your tenant(s), the type of lease you choose depends on how you want your tenant(s) to pay: individually or jointly.
The invoicing type selected during lease creation is permanent and cannot be altered afterward. To switch between the invoicing types, the current lease must be terminated, and a new lease created.
Tenants pay individually (Separated Invoicing)
The first lease type is "tenants to pay individually". With this invoicing type, you can move in tenants that will be individually responsible for rent and other invoices that are added to the lease. The rent, deposit, and other lease transaction amounts will be split between tenants with an exact portion for each tenant. This means the system will post separate invoices for each of your tenants.
If you move in more than one tenant paying individually to the same unit, each tenant will see their own lease information and their exact rent amount to pay and cannot pay other roommates' invoices.
Note!
1. Late fees will be applied to the exact portion of the tenant's separate rent.
2. Your tenants can pay their portion of rent or other transactions and make partial payments if you have that setting enabled.
3. Management fees will be applied to the total rent amount.
On the second step, "Lease transactions," you can set up the rent amount that each tenant will pay. For example, if the total amount of the invoice is $2,800, you can set it to have tenant A pay $1,400 and tenant B pay the rest $1,400. Meaning whatever amount you set for each tenant, it cannot be lower or higher than the total rent amount.
The same rule applies to Deposits and Other lease recurring transactions.
Tenants pay jointly (Combined Invoicing)
With this invoicing type, all the tenants are collectively responsible for the whole rent invoice and other lease-related invoices. The tenants will each see one invoice with a full rental amount and will be collectively responsible for paying it. The tenants can pay partially, or one tenant can pay the whole invoice amount. This type of lease would be used if a husband and wife rent the unit or if college roommates are all named on the same lease.
If you would like to remove or add some tenants, you will need to edit the lease. How do I edit a lease? To add a co-tenant and split rent:
Add the new tenant as a contact in TenantCloud.
Open the Lease section and go to the Tenants subsection.
Click "+ Add Co-Tenant" and assign the new person to the lease.
Specify the rent split (equal portions or custom percentages).
Click Update to finalize the changes.
Note! The removed tenants will receive feed notifications that you have removed them from the lease.