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Add Tenancy

Updated

Introduction

This article explains how to create a tenancy in LoftyWorks, including adding tenants, guarantors, permitted occupiers, financial details, charges, and documents. It also covers creating a tenancy from a Lettings Application and important validation rules.

 

Summary

 

Add Tenancy Overview

You can create a tenancy from

  1. Lettings > Tenancies > Add Tenancy (at top-right corner)

  2. Lettings >  Properties > Property Detail Page > Tenancy Tab > + Add Tenancy button (at top-right corner)

  3. or  Lettings > Lettings Application > Lettings Application Detail Page > ... (more actions) , where some details are pre-filled and documents can be synced

The Add Tenancy flow guides you through four steps:

  1. Basic Information

  2. Financial Summary

  3. Charges

  4. Documents

 

Step 1: Basic Information

Tenancy Details

  • Property (Required): Select the property for the tenancy.

  • Tenancy Reference (Required): Automatically generated and editable.

  • Type (Required): Select the Tenancy Type based on the tenancy category.

  • Status (Required): Select the appropriate status for the tenancy type.

  • Start Date / End Date: Define the tenancy term.

  • Rent Guarantee Required: Select Yes or No (for record purposes only).

Landlord

  • Add landlord details for this tenancy.

  • Landlord information is pre-filled from the property but can be edited.

  • Changes here do not update the property record.

  • Final payments are always based on the tenancy-level information.

Tenants (At least one required)

Click + Add Tenant at far right side of Tenants to add one.

  • You can add multiple tenants, one at a time.

  • Each tenancy must have one Primary Tenant.

  • If no primary tenant is selected, the system will assign one by default.

Guarantors (Optional)

Click + Add Guarantor at far right side of Guarantors to add one.

Permitted Occupiers (Optional)

Click + Add Occupier at far right side of Permitted Occupiers to add one.

  • Add one or more permitted occupiers.

  • Select from contacts with the Permitted Occupier role.

  • You can also create a new contact with this role using + Add Contact.

 

Step 2: Financial Summary

Rent & Payments

  • Rent Amount

  • Payment Schedule: Weekly, Fortnightly, Every 4 Weeks, PCM, Quarterly, UK Quarterly, or Bi-Annually.

  • Set-up Recurring Invoice: choose Yes or No

Deposit

  • Deposit Amount

  • Scheme Provider

  • Registration Number

Management Fee

Select one of the following:

  • No Fee

  • Fixed Amount

  • Percentage of Rent (excl. VAT)

  • Percentage of Rent (incl. VAT)

 

Step 3: Charges (Optional)

Use this step to add additional one-off costs such as move-in fees, maintenance, late payments, or admin charges.

You may skip this step.
If you add a charge, all required fields must be completed.

You may fill in fields for tenant charges and landlord charges as following:

+ Add Charge is accessible at top-right corner the the page.

 

Step 4: Documents

Use this step to upload and manage tenancy-related documents.

Supported Document Types

  • Tenancy Agreement

  • Compliance & Legal

  • Financial

  • Property Condition

  • Notices & Correspondence

  • Other

Active Tenancy Validation

If you attempt to create a new Active tenancy for a property that already has active tenancies, a confirmation modal will appear:

add tenancy.png

 

Add Tenancy from a Lettings Application

In Lettings Application detail page, you can add a tenancy from ...(More actions) next to property address.

Pre-filled Fields

When creating a tenancy from a Lettings Application:

Basic Information

  • Property: pre-filled and locked

  • Tenancy Reference: pre-filled, editable

  • Start Date / End Date: pre-filled if available, editable

  • Landlords: pre-filled, editable

  • Tenants: pre-filled, editable

Financial Summary

  • Rent Amount: pre-filled from agreed rent, editable

  • Payment Schedule: defaults to PCM, editable

Document Sync

  • The Add Document button is replaced with Sync Document.

  • You can select one or more documents from the Lettings Application.

  • If a document already has a type, it is carried over automatically. If not, you must assign a type during sync.

  • Any changes to document types are synced back to the Lettings Application.

After Creation

  • Once the tenancy is created, it is linked one-to-one with the Lettings Application. The Add Tenancy button changes to Related Tenancy

  •  Clicking it opens the tenancy details page.

 

Questions?

If you have any questions about this topic or anything else, please get in touch with our Support Team. You can email us at <Support@LoftyWorks.com> or call us on +44 330 321 3500.

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