How Do I Enter Existing Lease Balances?

We often get asked by new 123Landlord users who are setting up their leases "how can I enter an existing lease amount owing or balance into the system?"  Here's the best way to do this:

  • Create your properties and tenants in the system first.
  • Then create leases for the property/tenants, with the Lease start date being any date (even the real date in the past from your lease paperwork (eg Sept 30, 2002) but the 'first payment due on date' to be February 1st, 2013 (which is when you started entering data into the system.)  The first payment due date is used by the system to determine when to start expecting rental payments due.  This means that if you want to enter in past history, select a date further back as the first payment due date - but be aware you'll have to back-collect payments for these due dates to bring your tenant in line so the system will no longer consider these periods "late".
  • For existing balances owing, manually adjust the first due date shown the 'Payment Schedule' section of the lease edit screen to include any additional amounts owing.
    For example, if on Feb 1st the tenant would normally owe $1000, but there is a balance outstanding of $350, click the first due date (you might have save the lease first and/or click Refresh to see your due dates) in the 'Payment Schedule' section and in the 'Amount Due' field enter $1350.  Make sure you click Save Lease at the top when you're done.

This will cause the due date you've adjusted to include your existing balance - you can collect this amount over any due dates going forward, but they should be applied (when collected in the system) to that first (eg Feb 1) due date to have the system account for it properly.