Passing Expenses through to your Tenant in UnitConnect
Hi there. Today I’m going to show you how to pass expenses through to your tenants. Some of the common items that we typically pass through to the tenant are things like water expenses, electric or any other utility expenses. The first thing that we will have to do, obviously once we have a vendor set up, is we would have to link that vendor account or accounts with specific tenants so, head over to vendors, click on the property then click on the vendor that you want to setup for pass-throughs. Then you would click on vendor accounts, all right on the vendor accounts page, all right, so this is an example of a water account in this example we have three water meters or three different water accounts. So each one you can link to specific tenants and you could setup the percentage share that you want to default as a pass through. So let’s look at one of these. Right. So again the first one is in our example is tied to two tenants and each one is responsible for 50 percent share. Now to set this up you would either add an account all right and add a water meter account and select the specific tenants that you want to link them to and set a percentage that you want to pass through to them or you can select an existing account and click the modify account button to set up to link the specific vendors and set up their percentage share, right.
Now once you have the setup you would also make sure that you need to have a default charged description, right. Again in our case it’s water and a default charge description would be water and the categories obviously utilities water. Right. So now you have this, once you have this setup you can pass expenses through for these particular accounts to your tenants. Let me show you how that’s done. It would go on the property expense page. Right. Again we’re going to our example property will go on property expenses. Select the water account. Right. So again we’re going to go select either one of these three, right and the system would basically know that this account is linked with these tenants. So when you enter in an expense let’s say five hundred dollars. The system would split this up accordingly. I mean in our case this was zero percent. Let’s look at the other example. This is 50/50 and five hundred dollars and it would split this up accordingly. So when we add the expense, the tenants September billing cycle will include these additional water charges.