Bond Top Up Workflow
Ability to enter an increase to bonds like we do when entering a rent increase to the rent schedule, and this would need a due date.
The due date could trigger an auto comms to send that the bond top up of X is due to be paid, and auto comms could be set to send X days ahead.
This way, the original bond details remain (what was required at the time of commencement) and would track all bond top ups as rents are increased during the tenancy.
Hi Supporters, we're pleased to advise that this idea has been picked up by the Product Team and is currently being outlined for our developers. We'd really love your input into how this could work if you'd like to give us any feedback on the following flow...
1. When entering your rent increase, include a checkbox for "Bond Top Up Required". When selected, you can enter the amount the bond needs to be topped up by and choose the Bond Type that it relates to (ie, Residential Bond).
2. Once saved, the Bond Top Up amount would appear in the Scheduled Rent Change list for transparency of what has been entered (the increased rent amount and bond top up amount on the same line).
3. The Bond Top Up Amount would be added to the Bond Required for the chosen Bond Type. This then creates an outstanding bond amount.
4. Include a new mail merge field for Bond Outstanding that will be added to the Scheduled Rent Change Automated Communication, as well as the Letter, Email and SMS Mail Merge Templates.
Let us know what you think in the comments or by replying to the email you receive as part of this update.
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Indya Golding commented
Yes I agree to have this implemented
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Deb Bailey commented
I also agree with Kristie's point number 4, this should be a priority. This is quite a painful process when doing the monthly reconciliation.
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Deb Bailey commented
Would it be possible to include the ability to run a report at month end that has a total bond held, bond paid & bond held by authority, without having to remember export it to excel and add all these totals. This is something that Rest had that our auditors loved. It also made the month end reconciliation much easier and quicker. thanks
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Kristie Smith commented
Excited for this update.
1. Include an option to select whether the bond increase is for pet bond or due to a rent increase.
2. Include an option to select a due date, as others have mentioned.
3. Allow for the information to be raised in a report.
4. There is also no current allowance to cater for partial bond refunds - can this be resolved at the same time? The only way we have been able to get around this is by adding a second bond to the tenant profile, which throws the bond reconciliation out of whack. -
Tegan Phillips commented
Ability to enter a due date for the bond top up is required in WA. Also we would need a report showing due/overdue bond top ups, either as a separate report or as part of the arrears page. An automated workflow for overdue bond top up reminders (as with invoice arrears) would also be appreciated!
Should be a priority item - with no clear cut reports or workflows, bond top ups are a nightmare to manage at present!
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Kendal Anderson commented
The due date of when the bond top up is required to be paid. In WA we are required to provide 60 days notice.
A separate report that can be generated for each portfolio for the amount owing OR visible on the arrears report - Bond Owing.
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Natalie Shrimpton commented
Should be a priority - bond top ups are a time consuming, manually exhausting process that MRI should have addressed a long time ago - don't forget bond top ups need to have a due date in order to comply with legislation requirements in WA & we need a merge field.
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Debbie Rose commented
This should not be "we would love this" this should be a priority. In the current market with rent increasing with almost every renewal this is essential.
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Alfioni Sofida commented
I really need the bond invoice and the top-up workflow.
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Kiara Baines commented
Please include bonds including top up bonds owing on tenants invoices so we no longer have to create a separate manual invoice. The tenants will only pay what the invoice asks for - we hold commercial bonds in trust. The bond is not lodged direct like in residential.
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Tash Williams commented
If there could be an account you can link it too the bond so you can send an invoice and leave it in there until paid would be great.
Currently I need to create invoice, delete so it doesnt receipt to the invoice and get paid out to owner, make a calendar note as the alerts only go to the property manager and then follow them up when they havent paid. If the bond account when selected for the invoice receipts it straight to the bond that way we can just process the bond payment and there is no chance these payments accidentially get paid out to the owner or missed -
Lisa Barry commented
this is a great idea. almost impossible to stay on top of bond top-ups and reminding tenants when it is due without having to create an alert for every single increase and bond top up, and physically contacting the tenants to remind them, very time consuming and messy. I have been making a note on tenancy profile, entering an alert to myself for the due date to follow up, and selecting "pin to tenancy receipt" however this does not actually pin the note to the tenants receipt, only shows the banner on our end when receipting funds.
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Amanda Griffin commented
When entering a rent increase there should be an option to trigger a bond top up amount invoice / email with due date that is issued to tenants at the same time, you should be able to edit the due dates and letter content.
It would also be handy to have a work flow for when they are due to be paid so it is easy to follow up with auto communication triggers etc.
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Tracy Tan commented
Great idea. Need this. On the same issue, would be great if there was a way to communicate with tenants to invoice and pay the bond
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AdminAngela Sutton (Admin, MRI Software) commented
When a rent increase is entered, with an increase to the tenants bond required, there is no way to communicate this to the tenant unless manually entering in each increase amount (which means sending individual communications to each tenant). This needs to be more streamlined