How to Add a Tenancy
At this point you should have already added at least 1 property and a corresponding rental unit. Once this has been completed you are all set to add your first tenancy to the property. The steps are very similar to adding your first property.
Step 1: From anywhere in the platform select the “Add Tenancy” button at the top of the page, highlighted in the picture below.
This will bring up the tenancy form where you can fill out all the necessary information regarding your tenant.
Step 2: Filling out the tenancy form:
Rental Details:
- Select the type of tenancy.
- Choose the property and unit the tenancy is associated with.
Tenancy Details:
- Select the type of contract used for the tenancy.
- Start and end date, it should be noted that the rent income will be automatically added as an income entry in the financial hub every month (or frequency you select).
- Select the status of the tenancy to “current”. To learn more about adding historical tenant information please follow this guide
- Adding rent review date and notification reminder – adding this information will give you a notification reminder on the dashboard so you never miss a rent review again.
Rent Details:
- Select the rental frequency of the tenancy.
- Select the amount of rent paid for each frequency.
- Octo works on a monthly system and will auto calculate the monthly amount for you.
Tenant Details:
- You can add as many tenants to the property as you wish. In order to add another tenant press the “Add Tenant” button highlighted below.
Step 3: Confirm the tenancy by pressing the “Submit” button at the bottom of the page.
Octo offers a free on-boarding service where we can populate your account with your portfolio free of cost, just contact one of the team at support@octoproperty.com.