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How do I record a Payment Plan?

FrontLobby aims to facilitate proactive and positive conversations between Landlords, Property Managers and Tenants. When applicable, we encourage all parties to work towards a mutually agreeable payment plan.

To record a payment plan for rental debt in FrontLobby: 

  • Work proactively to create payment plans between that works for your Tenant
  • Put the payment plan in writing and have the Tenant and the Housing Provider sign it 
  • For current Tenants, if a Tenant pays according to a plan, you can record these as being paid on time, so no debt is reported
  • If a Tenant stops paying according to plan, the full outstanding debt should be recorded under the outstanding balance
  • For former Tenants on a payment plan simply keep updating the balance monthly to ensure the data reported to the Credit Bureaus is accurate

Note: As a Housing Provider you can report the total outstanding debt even if the Tenant is on a payment plan as a current Tenant. If this is what you choose, please make sure you update the balance each month.