Rent Review
What is the Rent Review panel?
Staying on top of rents can be tough when you're managing many tenants (or focused on things other than your portfolio). COHO's Rent Review panel will help you track this. Reviews can be carried out not only against tenancies, but also properties and rooms themselves, allowing you to keep on top of what the market rent is for a place, even if the current contract doesn't allow increasing it.
Tenancies to review
This is going to be increasingly important with the Renters Right Act. This looks at the tenancy currently in place, and tracks the rent reviews year by year (or sooner, if your agreement allows).
Here you can click 'view' next to each tenancy to show further information.
Click 'Review Tenancy Rent' to set a rent review
From here you can set a new target rent or schedule a rent change directly within the tenant's rent schedule.
Rent reviews are set to yearly unless your organisation has altered that within the settings. You can change the next review date on a tenant by tenant basis if needed.
Rent reviews are set to yearly unless your organisation has altered that within the settings. You can change the next review date on a tenant by tenant basis if needed.
Click 'Save' or 'Cancel'.
Section 13 Form PDF Download: Here you can download a Section 13 Form in PDF format.
Units to review
Even with a tenancy in place, the value of a property/room might go up higher than what you can increase it by. This will let you track the achievable rent, if a new tenancy was in place.
Here you can click 'view' to show further information.
Click 'Review Rent' to review the rent amount on the room/property.
New Target Rent: Enter the target rent amount on the room/property.
Update the rent listing amount of the room: Checkbox to update the room listing rental amount.
Current Minimum Viable Rent: Enter the minimum viable rent for the room/property.
Next Review: Enter a date for the next review or use the calendar menu.
Important: This will update the target rent, allowing you to track what you could be getting. If as a result you decide to change the rent for an existing tenancy, you must do that separately. See also Tenancy Summary & Information. Minimum viable rent is currently for information only within this Rent Review section.
Click 'Save' or 'Cancel'.
Rent Review Configuration Settings
To configure the Rent Review panel, you will need to click into a property, navigate to the 'Services' section and click 'Configure' on the Rent Review section:
Here, you will be able to configure How regularly you want to carry out rent reviews and How many weeks before it's due should COHO remind you: