Charges and bills often recur every week or month. Harmony makes it easy to set up recurring financial transactions.
When creating a management agreement, you may have management bills to the owner that recur on a schedule. A base management fee or administrative fee may be billed every month. An annual management fee or performance bonus may be added every year. When you add these to a management agreement, they’ll automatically be set up to recur on the dates based on the agreement (which you can adjust). They’ll automatically stop at the end of the agreement.
When creating a lease agreement, the functionality for tenant charges is similar. Recurring rent is normal, but other recurring charges like parking fees are easy to add, too. Set it and forget it, and the charge will be added on the recur schedule you set.
You’re not limited to setting recurring charges and bills in agreements. Any time you add a charge or a bill, you can set it to recur and choose its recur schedule and expiration.
When a recurring charge or bill is posted, you’ll get a notice in your Updates & Alerts, so nothing happens without you knowing. When it expires, you’ll get a notice of that, too.
Harmony automates so many of your recurring tasks, making it easy to focus on what you do best. If you have other items that we can simplify for you, just drop us a line!