What happens on the rent increase's effective date?
ForLandlordsProperty managers
Who can do this
Automatic.
Where to find it
The lease page.
Steps
- Nothing to do. On the effective date Monthly rent shows the new amount.
What happens next
For a lease with online payments, the next rent invoice uses the new rent (Kera repriced the schedule when you served). For a record-only lease, a daily job switches the rent early in the morning (Toronto time). The books update with the rent.
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