Tenant pays rent annually

When I enter a Tenant, is there any way to indicate that the rent is paid annually, rather than monthly?

Answers

  • Quicken Diana
    Quicken Diana Moderator, Employee mod

    michele654

    Hello, thank you for bringing your question to The Community! There is a way to set up a tenant for an annual payment in Quicken! Under the Rental Property tab, go to the Properties & Tenants drop down menu at the top right. Chose Add Tenant. The window that appears will open on the Rent Details tab. Fill out the tenant name and property. From here you can navigate to the Terms and Agreement tab where you can select the Lease Terms drop down and chose One Year.

    Is this what you were looking for? If it doesn’t quit solve for what you need, please let me know so that I can assist you further.

    -              Quicken Diana


  • michele654
    michele654 Member
    Hi Diana,

    This takes care of the annual contract, but rent is also received annually. When we put in the rent, the only option is a specific day, implying the rent is paid monthly.
  • Quicken Diana
    Quicken Diana Moderator, Employee mod

    michele654

    Hello, with further investigation I see, as you stated that entering annual rent payments is not an option. Quicken is designed to be a month to month system, hence, the lack of an option to enter the rent on an annual basis. An idea that might work is to enter the tenet as you normally would without the monthly rent set and then create an income reminder set to remind annually when the payment is due, which would have to be entered  manually and be tagged for the correct property.

    -              Quicken Diana


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