Letting property
Getting paid
How rent reaches you, invoices, arrears, deposits, NSFAS and fees.
On this page
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Finance in your organisation’s menu shows rent invoiced and collected, what is owed, and how rent reaches you. Every figure on it is read from JourneyStead’s invoicing service, so there is one set of numbers.
If you see These figures could not be refreshed just now, what is shown is what was last read. Try again in a few minutes.
The pages of Finance
| Tab | What it shows |
|---|---|
| Rent roll | Each lease’s rent for the month: invoiced, collected and owed |
| Invoices | Every invoice, and whether it is paid |
| Arrears | Who owes what. It says Nobody owes anything when that is true |
| NSFAS | Each NSFAS-funded lease for the month, with the numbers NSFAS asks for |
| JourneyStead fees | What JourneyStead charges, month by month |
| Getting paid | How rent reaches you |
Getting paid
Until you set this up, Finance says Payments are not set up yet. Open Getting paid and connect how rent reaches you:
- Paystack, so tenants can pay by card.
- Netcash, so tenants can pay by DebiCheck debit order.
You can use either or both. A tenant whose landlord has neither sees “Your landlord takes rent by EFT or cash for now” and pays you the way you agreed, which you then record.
Your keys go straight to the invoicing service, which keeps them encrypted. JourneyStead never stores or shows them.
Billing for one lease
Open a lease from Finance to see how it bills.
- Rent comes from the lease: the amount a month, and the day it is due. It shows when the first invoice is, and what it rises by if the lease is renewed.
- Deposit is invoiced when the lease is signed, or carried over from the previous lease.
- Late fee: none, a fixed amount, or a percentage of what is late, after the number of days you set. It is written into the lease before it is signed. A lease signed without one can never charge one, so set it before you send the lease.
- Billed every month and once-off charges are extras you add, with a description and an amount.
- Who pays splits the rent between the tenant and any sponsors. Shares must add up to exactly 100%, and a sponsor never pays more than they agreed to.
Students funded by NSFAS
Tick This tenant is funded by NSFAS on the lease and add the student number and the claim reference. NSFAS pays you directly, so record its payments as NSFAS. No late fee is ever charged on an NSFAS-funded lease.
Deposits
JourneyStead shows the deposit and records it. It does not hold it. The law says:
- keep it in an interest-bearing account; the interest is the tenant’s;
- pay it back 7 days after the lease ends if nothing is owed, 14 days after the place is restored if you make deductions, or 21 days if the tenant did not come to the outgoing inspection.
JourneyStead’s fees
Each month’s fee is worked out from what happened in it. While the rates are R0, nothing is charged.