Property Matrix allows you to easily manage and adjust lease transaction schedules for your tenants.
Editing an Entire Schedule
You can edit the entire schedule details by:
Navigating to Tenants > Select Tenant > Future > Select Fee Schedule.
Click the Pencil Edit Icon.
Then, you should see the following "Edit Transaction Schedule" pop-up:
From here, you are able to edit:
Schedule Name
Start Date and End Date
Note that End Date will only be set if the "Month to month" option is disabled
Schedule Frequency
Lease charge generation date (i.e., when the invoice will be generated)
Due date
Scheduling a rent increase
Alternatively, edit from the All Leases page:
Accessed either from Properties > Lease tab > Tenant Dropdown > All Leases, or Tenants > Action Menu > All Leases.
Scroll down to the Transactions Schedules section and click the Pencil Edit Button.
When editing the transaction schedule, you have the same options available as when initially creating a lease. Note: saving edits at the schedule level will erase any individual changes previously made (e.g., individually edited transactions, Push to Today actions). Additionally, saving these edits will automatically update tenant information to reflect the new schedule details, ensuring accuracy.
Lease Terms and Vacancy Calculations
Property Matrix calculates the lease start date based on the earliest start date across all schedules for that lease. The unit will show that it is occupied once the lease starts.
To set a lease starting in the future, simply enter a future start date. Note: the unit will still be displayed as unoccupied until the lease officially starts.
For indefinite lease terms, check Month-to-Month in the Edit Transaction Schedule page and leave the end date blank. This option is located beneath the start and end date fields and must be manually selected.
A property will display as vacant if there is no active tenant at the moment, even when a future tenant and rent schedule are assigned. This ensures properties reflect their real-time occupancy status accurately.
Future tenants, whose lease start date is after the current date, are classified separately and are visible only under the 'future tenants' filter. This classification helps clarify why some tenants may not appear immediately in the 'current tenants' list.
Editing Individual Scheduled Transactions
To edit a scheduled transaction:
Navigate to Tenants page.
Click the tenant's name whose lease you wish to edit.
If the tenant has multiple leases, select the specific lease tab.
Go to the Future tab.
Click on the transaction schedule containing the transaction you want to edit (if multiple schedules exist).
Locate the transaction in the list and click Pencil Icon next to the field you want to edit.
Save your changes.
You can edit scheduled transactions similarly to any other invoice or credit note. Upon saving, you will have options:
This transaction only: Only the selected transaction is edited and marked with an asterisk (*).
This transaction and future transactions: The schedule splits into two from the edited transaction forward.
All transactions: All transactions in the schedule update uniformly without any marking.
Additionally, you can immediately post a transaction by clicking the 3-dot menu (⋮) next to a transaction and selecting Push to Today. This removes the transaction from the schedule and posts it instantly.
Deleting a Schedule
To delete a schedule entirely:
Go to Tenants > Future tab.
Click the Red X button in the schedule section and confirm your choice.
Following these steps will ensure smooth management of your lease transaction schedules within Property Matrix. Understanding how lease states and classifications affect property and tenant visibility ensures you can efficiently navigate the system.