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How to Operate Fortnightly Lease Agreements
How to Operate Fortnightly Lease Agreements
RYN avatar
Written by RYN
Updated over 6 months ago

RentYourNest gives you the possibility to operate fortnightly lease agreements. Let's see how you can do it!

Start Date vs Entry Date

In RentYourNest you have two elements for each lease agreement:

  1. the Start Date is the date on which the lease agreement starts. This is the date you have on the lease agreement itself;

  2. the Entry Date is the date on which the tenant enters the room. This is also called check-in date.


So how can I operate fortnightly lease agreements by acting on the lease Start Date vs Entry Date? It is very simple:

  • enter the 1st of the month or the mid-day of the month (i.e. 15th for a 30th days month) as the lease Start Date

    • RentYourNest usually calculates the rent amount on a pro-rata daily basis, so, in the case the lease starts after mid-month, be sure to add the day in the middle of the month. For your convenience:

      • for months with 28 days, select the 15th as a day

      • for months with 30 days, select the 16th as a day

      • for months with 31 days, select the 15th as a day

  • enter the actual check-in date as the lease Entry Date

    • to show the Entry Date, after you added the Start and End Date of the lease agreement, click on the checkbox 'the entry or exit date is different from the start date or the end date of the lease'

In this way, RentYourNest will calculate the amount as fortnightly but the availability of the room won't be impacted.

Example

John just booked a room in one of your apartments. He is entering on the 11th of the month and you apply fortnightly lease agreements.

This is what you should do:

  • enter 1st of the month as the lease Start Date. The lease Start Date is the first one you find when adding a lease

  • enter the 11th of the month as the lease Entry Date, after having clicked on the checkbox 'The entry or exit date is different from the start date or the end date of the lease'

Bonus

The same reasoning applies also for the End Date and Exit Date, which respectively is the counterpart of Start Date and Entry Date.

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