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Rent Change (increase or decrease) via Once-off wizard (#RCOOW01)

Last updated:   Applies to:   In industries:   Of versions:   Special contents:
20150921 (Andy)   Pro, MultiUser, MultiSite, MultiView   Self Storage EditionMarina EditionVault Edition   8.X (and higher)   Sample letter templates / Video
  • Did you know that Rent Increase Rules (learn more: #RCAAR01) may be a better way to run a rent increase? Read Andy's blog to learn more...

How do I perform a rent change (rent increase or rent decrease) via Once-off wizard?

  1. Perform a backup (read more) first.
  2. Select the Customers menu, then Auto Rental Change. The step-by-step Rental Change wizard will now open.
  3. The wizard will complete 5 steps as it goes through the rent change process - these 5 steps are shown on the screen for your reference, and StorMan will automatically tick these off (under the checklist section on the right hand side) as they are done. The first part of the wizard will you to enter the new rental rates for each Berth / Unit / Vault type. This step is optional, so please selection the option that relates to how you plan to change your rates...

    • If you are applying a percentage-based change (i.e.: increase or decrease) to your rental rates instead, manually click the Done tick box next to Step 1 of the wizard, and continue on to Step 3 of these instructions below.
    • If you will be entering new rates for each of your Unit types as part of this rental change, click OK to start the wizard. StorMan has automatically opened the Berth / Unit / Vault Types & Rates section (more on adding Types: #UNTADTP01) for you to make adjustments to the rental amount for each Berth / Unit / Vault type. This step is optional (see note below) - so make any adjustments to the price of your Berth / Unit / Vault types if required, and then click Done to return to the rent change wizard. Note: If you are using this option and your Berth / Unit / Vault rates are already setup with your new pricing, simply click Done on the Types & Rates screen to continue the wizard. The next screen that appears is the Modify Analysis Codes screen (more on Analysis Codes: #ANLWAC01), which allows you to adjust the prices of your various Analysis Codes, if you wish to do so. Adjust these if required and click Done. Alternatively, do not adjust anything here and click Done to skip this screen.
  4. The first part of the wizard is now complete and the corresponding Done checkbox should automatically be ticked to indicate this. The second part of the wizard will ask you to enter the date that the rental change will be effective from, so click OK on the wizard window again and enter the change date when the dialog appears on screen.

  5. Click OK to save the date you've entered. The third part of the wizard will calculate Customers new rent amounts and print a report of pending rent changes. Click OK on the wizard to begin the third part of the wizard.

  6. A new dialog will now appear. Again, you have different options depending on how you are going to change your rental prices & Analysis Codes...

    • If your rental change is going off rates that you've previously entered under StorMan's Berth Types & Rates / Unit Types & Rates / Vault Types & Rates section, select the option to Use the Types & Rates data. In the Other Recurring Charges section, set whether you wish to change (i.e.: increase or decrease) your Analysis Code pricing too. Once you have set your preferences, proceed to Step 6 of these instructions below.
    • If your rental change is based on a percentage change (e.g. a 10% increase), select the option entitled Apply percentage change of and enter a percentage into Change Amount. In the Other Recurring Charges section, set whether you wish to change (i.e.: increase or decrease) your Analysis Code pricing too. Once you have set your preferences, proceed to Step 6 of these instructions below.
  7. On the same dialog, you will see an Apply Rent Change to section. This section is used to tell StorMan who your change should be applied to...

    • To apply the change to all active Agreements, click Select All. You will notice that the field towards the bottom of the form (in the Summary section) will update to show the total number of Agreements that will be affected by this change, should you proceed with it.
    • To apply the change to Agreements that have not had a rent change since a certain date, enter a date into the corresponding section on the dialog, and click Find Agreements to automatically find any Agreements that apply. You will notice that the field towards the bottom of the form (in the Summary section) will update to show the total number of Agreements that will be affected by this change (based on date you entered), should you proceed with it.
    • If you wish to exclude Agreements that already have a rent change (i.e.: increase or decrease) pending, click Exclude Pending.
    • If you wish to exclude Agreements that have the Disable Auto Rent Changes option (more on this setting: #AGTTAB401) set, click Exclude Disabled.
    • To apply the change to Agreements that match a certain set of custom criteria (e.g. only Customers with 2 or more Berths / Units / Vaults, or only Customers that live in a certain postcode, etc), click Custom search and build your search query using the tools provided.
    • When you are finished, you will notice that the field towards the bottom of the form (in the Summary section) will update to show the total number of Agreements that will be affected by this change (based on the custom search query you created), should you proceed with it.
  8. Once you have set your options, click OK. you will then be prompted as to whether or not you wish to print the report, outlining those Customers who will be scheduled to receive a rent change, should you go ahead with it. Click the option you need, and you will then be returned to the wizard. Part three of the wizard is now complete.

  9. Part four of the wizard will print letters advising of the rental change. Click OK to continue to this part of the wizard.

  10. The integrated word processor will now open. Use the tools provided to create your own rent change letter, select a pre-made letter template using the dropdown at the top-right, or download our sample letter (below) and open it using the File, then Open menu option from within the StorMan word processor. When you are happy with the letter, use the buttons provided at the bottom to either Print one test letter or Print all letters for the Customers that are having their rent changed. Once you have printed your letters, click OK to return to the wizard.

  11. Part five of the wizard allows you to print updated autopay authority forms for any of your autopay Customers. Click OK on the wizard to proceed to this step. Note: With most autopay authorisation documents, you (the company) is only authorised to deduct a certain amount of money from a Customer's credit card or bank account. The reason StorMan prompts you to reprint autopay forms at this stage, is because you will need to get authorisation from these Customers again, as the rental amount that you will be deducting from their credit card or bank account has now been changed.
  12. Once the AP forms have been printed, the wizard will close. You have now change the rent rate for your selected Customers.

 

Letters templates:

Not sure where to start with your Rent Increase or Rent Decrease letter? Try our template...

 

Video:

On Thursday January 15th, 2009 we held a free StorMan PowerSession webcast on the topic of Rent Increases. You can download / view the webcast recording below...

  • Rent Increases
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