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About rent increases & rent decreases (#RICABT01)

Last updated:   Applies to:   In industries:   Of versions:   Special contents:
20150921 (Andy)   Pro, MultiUser, MultiSite, MultiView   Self Storage EditionMarina EditionVault Edition   7.X (and higher)   n/a
  • Some rent increase methods are better than others. Read Andy's blog to learn more...

What is a rent change (aka Rent Increase or Rent Decrease)?

StorMan has several automated ways to automatically change rents, which are outlined below. For setup information on each type of rent change, please click the relevant link provided...

 

  • Rent change (via Automatic always-running rule)
    This type of rental change runs in the background every time you run Daily Processing, continually applying the rules that you set on any Customers / Agreements that match the criteria you have set. For example, if you wish to change rent by 10% (or, say $30) as soon as a Customer has been storing with you for 6 months, you can do this using this type of rent change. You can run multiple rules at the same time.

    For setup info on this type of rent change, see: #RCAAR01.

 

  • Rent change (via Dynamic Rent Control based on occupancy)
    This type of rental change is set on a per Berth-type / Unit-type / Vault-type basis, and automatically increases or decreases rental rates for a particular type of Berth / Unit / Vault depending on how full (or empty) your site is. This type of rent change ensures that overall rental income remains fairly constant, even if Customers move out and your total occupancy levels drop.

    For setup info on this type of rent change, see: #RCDRC01.

 

  • Rent change (via Once-off wizard)
    This type of rental change is very similar to the automatic always-running change (outlined above), however it does not run automatically in the background. It is a one-off rent change that essentially updates the rental amounts on all Customer Agreements (who apply to the search queries that you set) for a date in advance. This type of rental change is similar to a manual rent change on a per-Agreement basis (outlined below) - except it does this over more than one Agreement at a time (and is faster than manually adjusting one Agreement at a time). This wizard cannot perform complex rental change adjustments, so you may wish to test it on the Demo datafile first, to ensure it does what you need it to do.

    For setup info on this type of rent change, see: #RCOOW01.

 

  • Rent change (via Manually adjusting a Customer's Agreement)
    This type of rental change is a manual process where you would simply open a Customer's Agreement, set a rent change date, and an amount of money to change the rent to at that time.

    For setup info on this type of rent change, see: #RCMACC01.
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