STEMMONS Tenant Ledger Change

Tenant Ledger Change

Lease tenant have a set monthly rent payment that they are responsible for every month. Along with rent there are additional charges that are usually involved in a lease such as security deposits or late fees. There are times when these amount are charged by error or the amount may be wrong. When this happens the tenant ledger must be corrected. Central allows for all of these changes to be tracked and documented along with any proof and approvals that may be associated to the changes. This reduces any confusion that may be caused if account are to be revised or audited.

User Experience:

  • Tenant disputes charge on their monthly rent or employee notices an error charge on a tenants rent
  • Case is created and assigned to accounting to research charge and modify ledger
  • Accounting employee consults instructions on how to proceed with researching the charge and updating ledger
  • Charge is researched and it is all documented within the case. 
  • Once error is found, case is assigned to manager to review research and approve change
  • Case is assigned to leasing manager to communicate resolution to tenant
  • Tenant ledger information is updated accordingly.

Functional Setup:

  • Tenant Ledger Change case type must be created
  • Instructions on how to proceed with researching and updating ledger should be created and documented within Standards
  • Leasing and property managers should be associated to their respective tenants
  • 3rd party account management system must be integrated with Central

Best Practices:

  • Leasing employees should constantly monitor tenants' monthly rent in order to identify any errors before a tenant does, thus reducing the number of disputes reported by tenants
  • When communicating resolution of request to tenant, manage should have all information necessary to explain charges if no change is to be made
  • If a charge can be credited or reduced in order to avoid a larger problem with a tenant, managers should analyze the pros and cons of doing this

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