How do I update my Lease Records each month?
Monthly updates are necessary, but FrontLobby automates much of the process for efficient Landlord management.
FrontLobby makes it quick and easy to maintain your Lease Records in minutes per month.
Steps to Update Lease Records:
- For current leases, system defaults to $0 if no debt was owed last month
- If a current Tenant is late or unpaid, login and record the balance or mark as “paid late"
- Balances can be updated anytime throughout the month
- If a Tenant moves out, click on the Lease Record, add move-out date, and mark as “former lease"
- For outstanding debts, turn on Debt Reporting to report the debt to the Credit Bureaus and maximize your chances of recovering the debt
- For former leases, the balance remains unchanged each month, so you’ll only have to update it as the Tenant pays off the debt