Overpaid Rent Reimbursement

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While a tenant has no vacate date entered any payment of rent or debt beyond that required by the Rent Invoice and Debt records respectively will pass into the landlord account and will be paid out by the system, (unless a hold amount is set on the landlord).

Any overpaid amounts can be returned to the tenant by using a Tenant Payment and entering the amount of rent and / or debt to be returned.

This will be removed from the landlord account and returned to the tenant. 

Normally this is not a problem unless the landlord account has insufficient funds which will not be covered by rent from the next tenant or the values are large.

See Tenant Payments for further discussion on making payments to tenants.

Once a vacate date is entered the rules change and the system will not permit any overpayment of rent or debt and will transfer any excess to the Tenant Held account.

If the entry of the vacate date results in the system recognising rent or debt has already been overpaid any excess will be deducted from the landlord account and transferred back to the Tenant Held account regardless of whether the landlord account has sufficient funds or not.  In the latter case where the reversing transaction overdraws the landlord account a warning message is issued.

In both the above cases there will be two receipts in the tenant account, one with negative value(s) of rent and / or debt and a second with a positve held value.

So the overpaid rent or debt is now returned to the tenant with a tenant payment from Tenant Held and you may need to chaage the Remittance Advice text.

See the Tenant Held topic for more details.